An analysis of WTI's insurance policies shows that $2,807 of coverage has expired. An inventory count shows
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Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Unadjusted Trial Balance December 31 Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned revenue T. Wells, Capital T. Wells, Withdrawals Tuition revenue Training revenue Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals Debit Credit $ 27,849 10,710 16,068 2,143 32,133 $ 9,641 103,000 17,139 23,000 15,000 108,496 42,845 109,254 40,702 0 51,415 0 23,573 0 7,498 5,998 $ 323,232 $ 323,232 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Unadjusted Trial Balance December 31 Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned revenue T. Wells, Capital T. Wells, Withdrawals Tuition revenue Training revenue Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals Debit Credit $ 27,849 10,710 16,068 2,143 32,133 $ 9,641 103,000 17,139 23,000 15,000 108,496 42,845 109,254 40,702 0 51,415 0 23,573 0 7,498 5,998 $ 323,232 $ 323,232
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Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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