I posted this question before but half of the answers were wrong and ive worked out most of it but i cant figure this out
Credit $ 17,481 WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31 Debit $ 26,642 Cash Accounts receivable 14.050 3,578 Teaching supplies Prepaid insurance 11,242 Prepaid rent Professional library 30.739 Accumulated depreciation-Professional library Equipment 97,000 Accumulated depreciation Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends 40.988 Tuition fees earned Training fees earned Depreciation expense-Professional library 8,258 Depreciation expense-Equipment 16,515 Salaries expense 49,586 Insurance expense 4,129 Rent expense 20,500 Teaching supplies expense 3,578 Advertising expense 7.173 32.911 23,000 400 7.500 20.110 83.000 109,516 43,937 IOSIOS Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows along with descriptions of items a through h that require adjusting entries on December 31. Additional Information Items a. An analysis of WTI's insurance policies shows that $4.129 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,578 are available at year.end. c. Annual depreciation on the equipment is $16,515. d. Annual depreciation on the professional library is $8,258. e. On September 1, WTI agreed to do five courses for a client for $2.500 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 $12,500 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees f. On October 15, WTI agreed to teach a four-month class (beginning immediately for an executive with payment due at the end of the class. At December 31, $14.050 of the tuition has been earned by WTI g. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee h. The balance in the Prepaid Rent account represents rent for December WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Debit 26,642 Credit $ 10, 245 15,371 2,ese 30,739 $9,223 97,000 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation Equipment Accounts payable Salaries payable Unearned training fees Common stock Retoined earnings Dividends Tuition fees earned Training fees earned Depreciation expense-Professional library 16,396 23,000 12,500 20, 110 83,000 40,988 104,516 38,937 0 Unadjusted Trial Balance December 31 Credit Debit $ 26,642 10,245 15,371 2,050 30,739 $ 9,223 97,000 16,396 23,000 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends Tuition fees earned Training fees earned Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 12,500 20,110 83,000 40,988 104,516 38,937 @ 49,186 @ 22,550 7,173 5,738 $ 307,682 $307,682 2050 adj. Bal Unadj Bal. 12,500 5,000 X h C 2,050 e Bal 0 Adj Bal 7.500 Common stock Professional Library 30.739 nadi Bal Unadj. Ball 20.110 Adi Bal 30,739 Adj Bal 20.110 Accumulated Depreciation -- Professional Library Unad Bal Retained earnings 9.223 8.258 Unadj Bal 83.000 d Ad Bal 17,481 Adi Bal 83 000 Tuition Fees Eamed Unadi Bal 104,516 5,000 Unadi Bal Dividends 40.988 > Ad Bal 109,516 Adj Bal 40,988 Training Fees Earned Unadi. Bal 38 937 5,000 Unadj. Bal Rent Expense 22.550 2,050 Ad Bal 43 937 Adi Bal 20.500
