Could you make a statement of retained earnings with the following information?
Items a through h that require adjusting entrles on December 31 . Additional Information Items a. An analysis of WTI's Insurance policles shows that $3,203 of coverage has expired. b. An Inventory count shows that teaching supplies costing $2,776 are avallable at year-end. c. Annual depreclation on the equipment is $12,814. d. Annual depreclation on the professional Ilbrary Is $6,407. e. On September 1, WTI agreed to do five courses for a client for $2,600 each. Two courses will start Immedlately and finish before the end of the year. Three courses will not begin untll next year. The cllent pald $13,000 cash in advance for all five courses on September 1 , and WTI credited Unearned Revenue. f. On October 15, WTI agreed to teach a four-month class (beginning Immediately) for an executlve with payment due at the end of the class. At December 31,$9,250 of the tultion revenue has been earned by WTI. g. WTI's two employees are paid weekly. As of the end of the year, two days' salarles have accrued at the rate of $100 per day for each employee. h. The balance In the Prepald Rent account represents rent for December. Complete this question by entering your answers in the tabs below. Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $83,000 on December 31 of the prior year. Items a through h that require adjusting entrles on December 31 . Additional Information Items a. An analysis of WTI's Insurance policles shows that $3,203 of coverage has expired. b. An Inventory count shows that teaching supplies costing $2,776 are avallable at year-end. c. Annual depreclation on the equipment is $12,814. d. Annual depreclation on the professional Ilbrary Is $6,407. e. On September 1, WTI agreed to do five courses for a client for $2,600 each. Two courses will start Immedlately and finish before the end of the year. Three courses will not begin untll next year. The cllent pald $13,000 cash in advance for all five courses on September 1 , and WTI credited Unearned Revenue. f. On October 15, WTI agreed to teach a four-month class (beginning Immediately) for an executlve with payment due at the end of the class. At December 31,$9,250 of the tultion revenue has been earned by WTI. g. WTI's two employees are paid weekly. As of the end of the year, two days' salarles have accrued at the rate of $100 per day for each employee. h. The balance In the Prepald Rent account represents rent for December. Complete this question by entering your answers in the tabs below. Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was $83,000 on December 31 of the prior year
