A1 X fx 1 2 3 CHECK FIGURE: 2. Adjusted Trial Balance, debits = $588,570 4 Fawcett Institute provides one-on-one training to individuals who pay tuition directly to the business 5 and also offers extension training to groups in off-site locations. Fawcett prepares adjusting entries 6 monthly. Additional information available on December 31, 2

017: 7 8 a. An analysis of the company's policies shows that $31,000 of insurance coverage has expired. 9 b. An inventory shows that teaching supplies costing $13,400 are on hand at the end of the month. 10 c. The estimated monthly depreciation on the equipment is $650. 11 d. The estimated monthly depreciation on the professional library is $320. 12 e. The school offers off-campus services for specific operators. On December 1, the company agreed 13 to do a special four-month course for a client. The contract calls for a $5,400 monthly fee, and the 14 client paid the first two months' revenue in advance. When the cash was received, the Unearned 15 Extension Revenue account was credited. QUESTION #1 Adjusting Entries and Adjusted Trial Balance 16 f. On December 15, the school agreed to teach a four-month class to an individual for $1,600 tuition 17 per month payable at the end of the class. The services have been provided as agreed, and no 18 payment has been received. 19 g. The school's only employee is paid weekly. As of the end of the month, wages of $1,200 have 20 accrued. Ready 21 h. The balance in the Prepaid Rent account represents the rent for December, January, February, and 22 March. 23 24 25 Required 26 1. Prepare the necessary December 31, 2017, month-end adjusting journal entries based on (a) 27 through (h) above. Use the template provided. 28 29 Question #1 Question #2 Accessibility: Investigate Question #3 Question #4 B C Q Question #5 Question #6

Clipboard y Font Alignment Number A1 fx 1 \begin{tabular}{|c|c|} \hline QUESTION \#1 \\ \hline CHECK FIGURE: 2. Adjusted Trial Balance, debits =$588,570 \\ Fawcett Institute provides one-on-one training to individuals who pay tuition directly to the business \end{tabular} monthly. Additional information available on December 31, 2017: a. An analysis of the company's policies shows that $31,000 of insurance coverage has expired. b. An inventory shows that teaching supplies costing $13,400 are on hand at the end of the month. c. The estimated monthly depreciation on the equipment is $650. 11 d. The estimated monthly depreciation on the professional library is $320. 12 e. The school offers off-campus services for specific operators. On December 1 , the company agreed 13 to do a special four-month course for a client. The contract calls for a $5,400 monthly fee, and the 14 client paid the first two months' revenue in advance. When the cash was received, the Unearned 15 Extension Revenue account was credited. 16 f. On December 15 , the school agreed to teach a four-month class to an individual for $1,600 tuition 17 per month payable at the end of the class. The services have been provided as agreed, and no 18 payment has been received. 19g. The school's only employee is paid weekly. As of the end of the month, wages of $1,200 have 20 accrued. 21h. The balance in the Prepaid Rent account represents the rent for December, January, February, and 22 March