Do not give solution in image format thanku CashAccounts receivableTeaching suppliesPrepaid insurancePrepaid rentProfessional library.Accumulated depreciation-Professional libraryEquipmentAccumulated depreciation-EquipmentAccounts payableSalaries payableUnearned revenueCommon stockRetained earningsDividendsTuition revenueTraining revenueWELLS TECHNICAL INSTITUTEUnadjusted Trial BalanceDecember 31Depreciation expense-Professional libraryDepreciation expense-EquipmentSalaries expenseInsurance expenseRent expenseTeachine sunnlies exnenseDebit$ 26,642010,24515,3712,05030,739103,00040,9880049,186022,550ACredit$ 9,22316,39626,000014,00022,61082,000104,51638,937 Teaching supplies expenseAdvertising expenseUtilities expenseTotals7,1735,738$ 313,682$ 313,6823-a. Prepare Wells Technical Institute's income statement for the year.3-b. Prepare Wells Technical Institute's statement of retained earnings for the year. The Retained Earnings account balance was$82,000 on December 31 of the prior year.3-c. Prepare Wells Technical Institute's balance sheet as of December 31.-cemb

Income Statement. Revenue Tuition 104516 Training 38937 Total Revenue 143453…

Cash Accounts receivable. Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned revenue Common stock WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Retained earnings Dividends Tuition revenue Training revenue Depreciation expense-Professional library. Depreciation expense-Equipment Salaries expense Insurance expense Rent axOOBER Debit $ 26,642 0 10,245 15,371 2,050 30,739 103,000 40,988 0 0 49,186 0 Credit $9,223 16,396 26,000 14,000 22,610 82,000 104,516 38,937

Cash Accounts receivable. Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned revenue Common stock WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Retained earnings Dividends Tuition revenue Training revenue Depreciation expense-Professional library. Depreciation expense-Equipment Salaries expense Insurance expense Rent axOOBER Debit $ 26,642 0 10,245 15,371 2,050 30,739 103,000 40,988 0 0 49,186 0 Credit $9,223 16,396 26,000 14,000 22,610 82,000 104,516 38,937

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.1MBA

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Question 7.17 please explained in detail.
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