2-a. Post the balance from the unadjusted trial balance and the adjusting entries into the T-accounts. 2-b. Prepare an adjusted trial balance.
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2-a. Post the balance from the unadjusted
- Required information [The following information applies to the questions displayed below.] Wells Technical Institute (WTI) 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 $2,674 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,318 are available at year-end. c. Annual depreciation on the equipment is $10,698. d. Annual depreciation on the professional library is $5,349. e. On September 1, WTI agreed to do five training courses for a client for $2,500 each. Two courses will start immediately and finish before the end of the year. Three courses will not…[The following information applies to the questions displayed below.]Wells Technical Institute (WTI) 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 An analysis of WTI's insurance policies shows that $3,732 of coverage has expired. An inventory count shows that teaching supplies costing $3,235 are available at year-end. Annual depreciation on the equipment is $14,929. Annual depreciation on the professional library is $7,464. On September 1, WTI agreed to do five training courses for a client for $2,300 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…[The following information applies to the questions displayed below.]Wells Technical Institute (WTI) 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 An analysis of WTI's insurance policies shows that $3,732 of coverage has expired. An inventory count shows that teaching supplies costing $3,235 are available at year-end. Annual depreciation on the equipment is $14,929. Annual depreciation on the professional library is $7,464. On September 1, WTI agreed to do five training courses for a client for $2,300 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…
- [The following information applies to the questions displayed below.] Wells Technical Institute (WTI) 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 An analysis of WTI's insurance policies shows that $3,996 of coverage has expired. An inventory count shows that teaching supplies costing $3,464 are available at year-end. Annual depreciation on the equipment is $15,986. Annual depreciation on the professional library is $7,993. On September 1, WTI agreed to do five training courses for a client for $2,300 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…[The following information applies to the questions displayed below.]Wells Technical Institute (WTI) 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 An analysis of WTI's insurance policies shows that $3,732 of coverage has expired. An inventory count shows that teaching supplies costing $3,235 are available at year-end. Annual depreciation on the equipment is $14,929. Annual depreciation on the professional library is $7,464. On September 1, WTI agreed to do five training courses for a client for $2,300 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…1. Prepare the required Ledger Accounts as per the case given below. Requirement: The students are required to post the journal entries to the general ledger accounts below covering the period from March 1 to 31, 2021 these journal entries were taken from the accounting books of AL Almas Shope owned and managed by Ms. Nabila. • All Ledger accounts must be dosed. The account total and balance are required to be determined after completing all postings for all Ledger accounts • The students must use the general ledgers accounts mentioned in this assessment paper and use the correct template. • You are not required to fill-up the reference columns in the general ledgers. March. Particulars Ref. Debit Credit Date 2021 1 Cash 200,000 Capital 200,000 To record owner's capital invested in Business 2 Furniture 7,000 Cash 7,000 To record purchase of Fumiture by cash from Danube Furniture Land 15,000 Accounts Payable 15,000 To record purchase of Land on credit from Mr. Said 6. Cash 2,000 Loans…
- 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. Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Accounts payable Salaries payable Unearned revenue T. Wells, Capital T. Wells, Withdrawals Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation Equipment Tuition revenue Training revenue WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance Salaries expense Insurance expense December 31 Depreciation expense-Professional library Depreciation expense-Equipment Rent expense Teaching supplies expense Advertising expense Utilities expense Totals Debit $ 26,793 0 10,304 15,458 2,062 30,913 95,000 41,220 0 0 49,464 0 22,682 0 7,214 5,771 $ 306,881 Credit $ 9,275 16,489 25,000 0 11,500 100,351 105,108 39,158 $ 306,881Wells 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 An analysis of WTI's insurance policies shows that $2,400 of coverage has expired. An inventory count shows that teaching supplies costing $2,800 are available at year-end. Annual depreciation on the equipment is $13,200. Annual depreciation on the professional library is $7,200. On September 1, WTI agreed to do five courses for a client for $2,500 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 $12,500 cash in advance for all five…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 An analysis of WTI's insurance policies shows that $3,071 of coverage has expired. An inventory count shows that teaching supplies costing $2,662 are available at year-end. Annual depreciation on the equipment is $12,285. Annual depreciation on the professional library is $6,142. On September 1, WTI agreed to do five courses for a client for $3,000 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 $15,000 cash in…
- 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 An analysis of WTI's insurance policies shows that $3,864 of coverage has expired. An inventory count shows that teaching supplies costing $3,349 are available at year-end. Annual depreciation on the equipment is $15,458. Annual depreciation on the professional library is $7,729. 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…Please help meplease and thank you