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Nguyen Technical Institute ( NTI ) , a school owned by Than Nguyen, provides training to individuals who pay tuition directly to the school. NTI
Nguyen Technical Institute NTI a school owned by Than Nguyen, provides training to individuals who pay tuition directly to the school. NTI also offers training to groups in offsite locations. Its unadjusted trial balance as of December is found on the trial balance tab. NTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December
An analysis of NTIs insurance policies shows that $ of coverage has expired.
An inventory count shows that teaching supplies costing $ are available at yearend.
Annual depreciation on the equipment is $
Annual depreciation on the professional library is $
On September NTI agreed to do five courses for a client for $ 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 $ cash in advance for all five courses on September and NTI credited Unearned Training Fees.
On October NTI agreed to teach a fourmonth class beginning immediately for an executive with payment due at the end of the class. At December $ of the tuition has been earned by NTI.
NTIs two employees are paid weekly. As of the end of the year, two days salaries have accrued at the rate of $ per day for each employee.
The balance in the Prepaid Rent account represents rent for December.
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