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Can you make a T account for this information and an Adjusted trial balance? Requlred information [The following information apoles ro the questoins disolayed beiow]
Can you make a T account for this information and an Adjusted trial balance?
Requlred information [The following information apoles ro the questoins disolayed beiow] Wells Technical insutute (WT), a school owned by Tristana Wells, provides training to individuals who pay tuition directly the school. WT also offers training to groups in off-site locatlons. WTi initiolly records prepaid expenses and unearned revenues in balance sheet accounts. Ins unadjusted trial balance as of December 31 follows, along with descriptions of items a through h that require adjusting entries on December 31 Additional Informetlon Items 0. An analysis of WTi's insurance policles shows that $3,203 of coverage has explred. b. An Inventory count shows that teaching supplies costing $2776 are avallable at year-end. c. Annual depreciation on the equipment is $12,814. d. Annual depreciation on the professional ibrary is $6,407. e. On September 1. WTi agreed to do five courses for a chent for $2.600 each. Two courses will start immediately an fintsh before the end of the yeor. Three courses will not begin until next year, The client paid 513,000cosh advance for all five courses on September 1, and WTI credied Unearned Revenue t. On October 15. WT agreed to teach a four-month class (beginning immedlately1 for an executwe with payment du at the end of the ciass. At December 31,$9,250 of the tultion revenue has been earned by WTi. 9. WTi's two empioyees are paid weekly. As of the end of the year, two days' salartes have accrued ot the rate of 510 per day for each employee. h. The baiance in the Prepaid Rent account represents rent for December- Requlred information [The following information apoles ro the questoins disolayed beiow] Wells Technical insutute (WT), a school owned by Tristana Wells, provides training to individuals who pay tuition directly the school. WT also offers training to groups in off-site locatlons. WTi initiolly records prepaid expenses and unearned revenues in balance sheet accounts. Ins unadjusted trial balance as of December 31 follows, along with descriptions of items a through h that require adjusting entries on December 31 Additional Informetlon Items 0. An analysis of WTi's insurance policles shows that $3,203 of coverage has explred. b. An Inventory count shows that teaching supplies costing $2776 are avallable at year-end. c. Annual depreciation on the equipment is $12,814. d. Annual depreciation on the professional ibrary is $6,407. e. On September 1. WTi agreed to do five courses for a chent for $2.600 each. Two courses will start immediately an fintsh before the end of the yeor. Three courses will not begin until next year, The client paid 513,000cosh advance for all five courses on September 1, and WTI credied Unearned Revenue t. On October 15. WT agreed to teach a four-month class (beginning immedlately1 for an executwe with payment du at the end of the ciass. At December 31,$9,250 of the tultion revenue has been earned by WTi. 9. WTi's two empioyees are paid weekly. As of the end of the year, two days' salartes have accrued ot the rate of 510 per day for each employee. h. The baiance in the Prepaid Rent account represents rent for December Step by Step Solution
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