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Please Help!!! Wolls Technical Institute (WTT) provides training to individuals who pay tuition directly to the school. WTi also offers training to groups in off-site
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Wolls Technical Institute (WTT) provides training to individuals who pay tuition directly to the school. WTi also offers training to groups in off-site locations. WTI Initially records prepald expenses and uneamed 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 $3,335 of coverage has expired. b. An inventory count shows that teoching supplies costing $2,891 are available at year-end. c. Annual depreciation on the equipment is $13,342. d. Annual depreclation on the professional library is $6,671. e. On September 1, WTi agreed to do flve training courses for a client for $2,400 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The cllent paid $12,000 cash in advance for all five training courses on September 1, and WII credited Uneamed Revenue. 1. 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,$10,403 of the tuition revenue has been earned by WTI. 9. 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 doy for each employee. h. The balance in the Prepaid Rent account represents rent for December. Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entrie Journal entry worksheet An analysis of WTI's insurance policies shows that $3,335 of coverage has expired. Note: Enter debits before credits. Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries Journal entry worksheet An inventory count shows that teaching supplies costing $2,891 are available at year-end. Note: Enter debits before credits. lequired: Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting ent Journal entry worksheet Annual depreciation on the equipment is $13,342. Note: Enter debits before credits. Required: Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting Journal entry worksheet \begin{tabular}{lll|l|l|l|l|l|} \hline & 1 & 2 & 6 & 7 & 8 \end{tabular} Annual depreciation on the professional library is $6,671. Note: Enter debits before credits. ?equired: . Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entric Journal entry worksheet On September 1,WTI agreed to do five training courses for a client for $2,400 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 $12,000 cash in advance for all five training courses on September 1 , and WTI credited Note: Enter debits before credits. Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entri Journal entry worksheet 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,$10,403 of the tuition revenue has been earned by WTI. Note: Enter debits before credits. Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting Journal entry worksheet 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. Note: Enter debits before credits. Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting en Journal entry worksheet The balance in the Prepaid Rent account represents rent for December. Note: Enter debits before credits. Post the balance from the unadjusted trial balance and the adjusting entries into the T-accounts. 1) Required information Prepare an adjusted trial balance Step by Step Solution
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