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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
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. Its unadjusted balance as of December 31, 2010, follows. Descriptions of items a through f that require adjusting entries on December 31, 2010, follow. Additional Information a. An analysis of the school's insurance policies shows that $2, 400 of coverage has expired. b. A count shows that teaching supplies costing $2, 800 are available at year-end 2010. c. Annual depreciation on the equipment is $13, 200. d. Annual depreciation on the professional library is $7, 200. e. The school'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. f. The balance in the Prepaid Rent account represents rent for December
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