as Brown Technical Institute (BTI), a school owned by Paul Brown, provides training to individuals who pay tuition directly to the school. BTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, is found on the trial balance tab. BTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 a. An analysis of BTI's Insurance policies shows that $2,450 of coverage has expired. b. An Inventory count shows that teaching supplies costing $2,840 are available at year-end, c. Annual depreciation on the equipment is $8,200, d. Annual depreciation on the professional library is $9.400. e. On September 1, BTI agreed to do five courses for a client for $2,600 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 $13,000 cash in advance for all five courses on September 1, and BTI credited Unearned Training Fees. f. On October 15, BTI agreed to teach a four-month class (beginning immediately for an executive with payment due at the end of the class. At December 31, $8,000 of the tuition has been earned by BTL g. BTI's two employees are paid weekly. As of the end of the year, two days salaries have accrued at the rate of $120 per day for each employee h. The balance in the Prepaid Rent account represents rent for December General General Requirement Income Trial Balance St Owner Ledger Impact on Journal Balance Sheet Statement Equity Income General Journal tab -For transactions a-, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the financial statements for accuracy. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances Trial Balance tab. You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs Income Statement tab - Use the drop-downs to select the accounts property included on the income statement. The unadjusted or adjusted balances will appear for each account based on your selection Statement of Owner's Equity tab - The unadjusted or adjusted balances will appear for each account, based on your Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or Impact on Income tab for each adjustment, indicate the income statement and balance sheet account affected, and the before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the dropdown.) General Journal > Brown Technical Institute (BTI), a school owned by Paul Brown, provides training to individuals who pay taltion directly to the school BTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, is found on the trial balance tab, Bil initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 8. An analysis of BTI's Insurance policies shows that $2,450 of coverage has expired b. An inventory count shows that teaching supplies costing $2840 are available at year-end. c. Annual depreciation on the equipment is $8.200 d. Annual depreciation on the professional library is $9.400 e. On September 1 BT agreed to do five courses for a client for $2600 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 $13.000 cash in advance for all five courses on September 1, and BTI credited Oneamed Training Fees f. On October 15 BTI agreed to teach a four month class (beginning immediately for an executive with payment due at the end of the class At December 31, $8,000 of the tuition has been earned by BTI g. Bti's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $120 per day for each employee h. The balance to the Prepaid Rent account represents rent for December Requirement General Journal General Ledger Thillance Income Statement St Owner Equity Balance Sheet Impact on Income For transactions a review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned on the expense lacurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click record entre View transaction Journal entry worksheet