Lee Technical Institute (LTU), a school owned by Hao Lee, provides training to individuals who pay tuition directly to the school. LTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, is found on the trial balance tab. LTI 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
Need help with the general journal
the unadjusted trial balance for the journal entry are in the first picture A,B,C,ect
I just uploaded the missing information
Return to question Lee Technical Institute (LTI), a school owned by Hao Lee, provides training to individuals who pay tuition directly to the school. LTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2018, is found on the trial balance tab. LTI 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 LTI's insurance policies shows that $2.650 of coverage has expired b. An inventory count shows that teaching supplies costing $3,200 are available at year-end C. Annual depreciation on the equipment is $6,800 d. Annual depreciation on the professional library is $13.000. e. On November 1, LTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $3,400, 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, LTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,600 of the tuition has been earned by LTI. g. LTI's two employees are paid weekly. As of the end of the year, two days salaries have accrued at the rate of $200 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December Answer is not complete. St Retained General Joumal Impact on inco Requirement Cieneral Ledger Income Staement Balance Sheet Trial Balance Earnings General Journal tab -For transactions a-review the unadjusted balance and prepare the adjusting entry necessary to correctly report th or the expense incurred. After adjusting the accounts, review the financial itatements for accuracy General Ledger tab Each journal entry is posted autoimatically to the general ledger. Use the drop-down button to view the unadjusted o balances. Trial Balance tab- You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below Your choice the renotadl On November 1, LTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $3.400, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited On October 15, LTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,600 of the tuition has been earned by LTI LTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $200 per day for each employee. The balance in the Prepaid Rent account represents rent for December. Answer is not complete. St Retained General Ledger Impact on inco Requirement General Journal Trial Balance Income Statement Balance Sheet Earnings General Journal tab For transactions a-fareview the unadjusted balance and prepare the adjusting entry necessary to correctly report th 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 o balances. Trial Balance tab- You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below Your choice the reported values on the financial statement tabs. Income Statenmeat tab - Use the drop-downs to select the accounts properly included on the income statement. The unadjusted or adjuste appear for each account based on your selection. Statement of Relained carnings tab - The unadjusted or adjusted balances will appear for each account. based on your selection Balance Sheet tab-Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balance each account,based on your selection. Impact on Income tab For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net in adjustment caused net income to decrease, enter the amount as a negative value, Net income hefore adjustments can be found on the income (Hint: Select unadjusted on the dropdown.) Klovt t calls for a monthly fee of $3,400, and the client paid the first five months' fees in advance. the cash was received, the Unearned Training Fees account was credited. tober 15, LTI agreed to teach a four-month class (beginning immediately) for an executive with ent due at the end of the class. At December 31, $3,600 of the tuition has been earned by LTI. wo employees are paid weekly. As of the end of the year, two days' salaries have accrued at the of $200 per day for each employee. palance in the Prepaid Rent account represents rent for December. Answer is not complete. St Retained General Journal Balance Sheet Impact Income Statement on income irement General Ledger Trial Balance Earnings ansaetions a-h, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earne. nse incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click "record entry Date Account Title Debit Credit Dec 31 Insurance expense 2,650 Prepaid insurance 2,650 Dec 31 Teaching supplies expense 3,200 Teaching supplies 3,200 Requirement General Ledger > ies on An analysis of LTI's insurance policies shows that $2,650 of coverage has expired An inventory count shows that teaching supplies costing $3.200 are available at year-end. Annual depreciation on the equipment is $6,800. Annual depreciation on the professional library is $13,000. On November 1, LTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $3,400, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited On October 15, LTI agreed to teach a four-month class (beginning immediately) for an executive with bayment due at the end of the class. At December 31, $3,600 of the tuition has been earned by LTI TI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the ate of $200 per day for each employee. The balance in the Prepaid Rent account represents rent for December X Answer is not complete. St Retained Earnings lequirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Impact on income r transactions a-h, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned pense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click "record entry. No Date Account Title Debit Credit Dec 31 Insurance expense 2,650 Prepaid insurance 2,650 Dec 31 Teaching supplies expense Teaching supplies 3,200 3,200 Cash Teaching supplies Prepaid insurane Prepaid rent Professional library Accumulated depreciation- Profes Equipment Accumulated depreciation- Equipr Accounts payable Unearned training fees ces Common stock Retained earnings Dividends Tuition fees earned Training fees earned Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Cancel Done Trial Balance December 31, 2019 Account Title Debit Cash 57,000 Teaching supplies 11,700 Prepaid insurance 5,300 Prepaid rent Professional library 3,600 65,000 Accumulated depreciation- Professional library Equipment Accumulated depreciation- Equipment 68,000 Accounts payable Unearned training fees Common stock Retained earnings Dividends 53,000 Tuition fees earned Training fees earned Salaries expense 50,600 Insurance expense 2,650 Rent expense 39,600 Teaching supplies expense Advertising expense 6,250 Utilities expense 6,900 Total 369,600 S 4 Lee Technical Institute Trial Balance December 31, 2019 Account Title Debit Credit S 57,000 lies 11,700 5,300 nce 3,600 65,000 rary epreciation- Professional library 26,000 68,000 epreciation- Equipment 13,600 ble 30,800 ing fees 17,000 9,000 91,000 ngs 53,000 med 134,000 45,000 arned 50,600 se 2,650 anse 39,600 3,200 ies expense 6,250 ense 6,900 e 369.600 369,600 S General Ledger Income Statement
