Hall Technical Institute (HTI), a school owned by Debbie Hall, provides training to individuals who pay tuition directly to the school. HTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2022, is found on the trial balance tab. HTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 follow. a. An analysis of HTI's insurance policies shows that $2,550 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,360 are available at year-end. c. Annual depreciation on the equipment is $6,000. d. Annual depreciation on the professional library is $11,400. e. On November 1, HTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $3,200, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. f. On October 15, HTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,000 of the tuition has been earned by HTI. g. HTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $180 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December.
i have completed the general journal and need helo filling the rest of the charts
Hall Technical institute (HT), a school owned by Debbie Hall, provides training to individuals who pay tuition directly to the school. HTI also offers training to groups in off-site locations, its unadjusted trial balance as of December 31,2022 , is found on the trial balance tab. HTI initially records prepaid expenses and uncarned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 follow. a. An analysis of HTI's insurance policies shows that $2,550 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,360 are available at year-end c. Annual depreciation on the equipment is $6,000. d. Annual depreciation on the professional library is $11,400. e. On November 1, HTI agreed to do a special six-month course (starting immediately) for a client. The contract calis for a monthly fee of \$3.200, and the client poid the first five months' fees in advance. When the cash was received, the Uneamed Training Fees account was credited. f. On October 15, HTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,000 of the tuition has been earned by HTI. 9. HTi's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $180 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. General Jeurnal tab - For transactions a-h, 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 staternents for accuracy. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to Wiew the unadjusted or adjusted balances. Triat Balance tab - You may view elther the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the finaricial statement tabs. Income Statement tab - Use the drop-downs to select the accounts properfy included on the income statement. The unadjusted or adjested balances will appear for each account, based on your sclection. Statement of Retained earnings tab - The unadjusted or adjusted balances will appear for each account, based on your selection. Bafance Sheet tab- Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Impact on Income tab = For each adjustment, indicate the income statement and balance shcet account affected, and the. ifmpact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustrments can be found on the income statement tab. (Hint: Seiect unadjusted on the dropdown.) Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjusted balances will appear for each account, based on your selection. Hall Technical Institute Balance Sheet December 31, 2022 Assets Current assets Plant assets Liabilities Current liabilities $$00 shewe less Adjusted Hall Technical institute (HT), a school owned by Debbie Hall, provides training to individuals who pay tuition directly to the school. HTI also offers training to groups in off-site locations, its unadjusted trial balance as of December 31,2022 , is found on the trial balance tab. HTI initially records prepaid expenses and uncarned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 follow. a. An analysis of HTI's insurance policies shows that $2,550 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,360 are available at year-end c. Annual depreciation on the equipment is $6,000. d. Annual depreciation on the professional library is $11,400. e. On November 1, HTI agreed to do a special six-month course (starting immediately) for a client. The contract calis for a monthly fee of \$3.200, and the client poid the first five months' fees in advance. When the cash was received, the Uneamed Training Fees account was credited. f. On October 15, HTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,000 of the tuition has been earned by HTI. 9. HTi's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $180 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. General Jeurnal tab - For transactions a-h, 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 staternents for accuracy. General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to Wiew the unadjusted or adjusted balances. Triat Balance tab - You may view elther the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the finaricial statement tabs. Income Statement tab - Use the drop-downs to select the accounts properfy included on the income statement. The unadjusted or adjested balances will appear for each account, based on your sclection. Statement of Retained earnings tab - The unadjusted or adjusted balances will appear for each account, based on your selection. Bafance Sheet tab- Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Impact on Income tab = For each adjustment, indicate the income statement and balance shcet account affected, and the. ifmpact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustrments can be found on the income statement tab. (Hint: Seiect unadjusted on the dropdown.) Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjusted balances will appear for each account, based on your selection. Hall Technical Institute Balance Sheet December 31, 2022 Assets Current assets Plant assets Liabilities Current liabilities $$00 shewe less Adjusted
