theres 3 parts, 3a, 3b, and 3c
kmarks People Tab Window Help ABUS-1AX Connect New Tab tion.com/ext/map/index.html?_con con&external_browser=0&launchUrlhttps%253A%252F%252Flms.mheducatie X X Saved Help Save & Ch 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 h that require adjusting entries on December 31 Additional Information Items a. An analysis of WTI's insurance policies shows that $3,071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are available at year-end. c. Annual depreciation on the equipment is $12,285. d. Annual depreciation on the professional library is $6,142 e. On September 1, WTI agreed to do five courses for a client for $2,800 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 $14,000 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, $8,100 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 Number This is an introductory course coverina the fundamental theory, oricioles and procedures at na 3.011 A 12 com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2 Saved WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Credit Debit $ 26,491 0 10,187 15,284 2,039 30,565 $ 9,171 101,000 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 16,303 26,000 0 14,000 17,380 85,000 40,755 103,924 38,717 0 0 48,907 0 22,429 0 7,132 5,706 $ 310,495 $310,495 Number - Malalla Teaterlinale maten Required information Complete this question by entering your answers in the tabs below. Req Req 3B Req 30 Prepare Wells Technical Institute's income statement for the year. WELLS TECHNICAL INSTITUTE Income Statement For Year Ended December 31 $ Revenues Tuition fees earned Training fees earned 103.924 38,717 $ Total revenues 142,641 0
