a. An analysis of WTI's insurance policies shows that $2.400 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,520 are available at year-end, c. Annual depreciation on the equipment is $5,200. d. Annual depreciation on the professional library is $9,800 e. On September 1, WTI agreed to do five courses for a client for $3.000 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $15,000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. 1. On October 15, WTI agreed to teach a four-month class (beginning immediately for an executive with payment due at the end of the class. At December 31, $9,500 of the tuition has been earned by WTI. g. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $160 per day for each employee h. The balance in the Prepaid Rent account represents rent for December General Requirement General Ledger Journal Trial Balance Income Statement St Owner Equity Impact on income Balance sheet d a ha inama statement The united or adicted Requirement General Journal General Ledger Trial Balance Income Statement St Owner Equity Use the drop-downs to select the accounts properly included on the income statement. The balances will appear for each account, based on your selection. Adjusted Wright Technical Institute Income Statement For Year Ended December 31 ooo ololo Requirement General Journal General Ledger Trial Balance Income Statement St Owner Equity Balance Sheet Impact on income Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Include all balance sheet accounts, even those with zero balances. Adjusted Wright Technical Institute Balance Sheet December 31 Assets Current assets Plant assets Requirement General Journal General Ledger Trial Balance Income Statement St Owner Equity Balance Sheet Impact on income For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.) Show less Adjusted Account affecting the: Income statement Balance Sheet Impact on net income Adjusting entry related to: a Insurance b. Teaching supplies c Depreciation - equipment d. Depreciation - library e Training fees f Tuition 9 Salaries h Rent Total impact on income due to adjustments Net income before adjustments a. An analysis of WTI's insurance policies shows that $2.400 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,520 are available at year-end, c. Annual depreciation on the equipment is $5,200. d. Annual depreciation on the professional library is $9,800 e. On September 1, WTI agreed to do five courses for a client for $3.000 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $15,000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. 1. On October 15, WTI agreed to teach a four-month class (beginning immediately for an executive with payment due at the end of the class. At December 31, $9,500 of the tuition has been earned by WTI. g. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $160 per day for each employee h. The balance in the Prepaid Rent account represents rent for December General Requirement General Ledger Journal Trial Balance Income Statement St Owner Equity Impact on income Balance sheet d a ha inama statement The united or adicted Requirement General Journal General Ledger Trial Balance Income Statement St Owner Equity Use the drop-downs to select the accounts properly included on the income statement. The balances will appear for each account, based on your selection. Adjusted Wright Technical Institute Income Statement For Year Ended December 31 ooo ololo Requirement General Journal General Ledger Trial Balance Income Statement St Owner Equity Balance Sheet Impact on income Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Include all balance sheet accounts, even those with zero balances. Adjusted Wright Technical Institute Balance Sheet December 31 Assets Current assets Plant assets Requirement General Journal General Ledger Trial Balance Income Statement St Owner Equity Balance Sheet Impact on income For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.) Show less Adjusted Account affecting the: Income statement Balance Sheet Impact on net income Adjusting entry related to: a Insurance b. Teaching supplies c Depreciation - equipment d. Depreciation - library e Training fees f Tuition 9 Salaries h Rent Total impact on income due to adjustments Net income before adjustments