need a-f

need a journal entry

Select a transaction that effects the accounting equation as follows: Note: There are 5 possible answer options. Once you click the dropdown, scroll down to view all possible answer options Transaction a. Effects The company pays cash toward an account payable. b. The company purchases equipment on credit. c. The owner invests cash in the business d. The owner withdraws cash from the business. The company purchases supplies for cash. f. The company provides services for cash. e. Required Information The following information applies to the questions displayed below) 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 that require adjusting entries on December 31 Additional Information Items a. An analysis of WTI's insurance policies shows that $2,807 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,433 are available at year-end. c. Annual depreciation on the equipment is $11,227. d. Annual depreciation on the professional library is $5,614. e. On September 1, WTI agreed to do five courses for a client for $2,700 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 $13,500 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, $7,048 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 6 WELLS TECHNICAL INSTITUTE Unadjusted Trial balance December 31 Credit Debit $ 26,340 0 10,129 15,197 2,027 30,391 9,119 2:55 70,903 16,210 34,112 0 13,500 64,431 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 T. Wells, Capital T. Wells, Withdrawals 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 40,523 103,332 38,496 0 0 48,628 0 2,297 0 7,092 5,673 $ 279,200 $ 279,200 Halo Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at yest- end. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 An analysis of WTI's insurance policies shows that $2,807 of coverage has expired. Note: Enter debits before credits Debit Credit Transaction General Journal a. 26 of 26