Pr3-2A - Problem 3-2A Part 2 Adjustment(a Dec 31 Insurance...

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Problem 3-2A Part 2 Adjustment (a) Dec. 31Insurance Expense 2,400 Prepaid Insurance 2,400 Adjustment (b) 31 Teaching Supplies Expense 5,200 Teaching Supplies 5,200 Adjustment (c) 31 13,200 13,200 Adjustment (d) 31 7,200 7,200 Adjustment (e) 31 Unearned Training Fees 5,000 Training Fees Earned 5,000 Adjustment (f) 31 Accounts Receivable 7,500 Tuition Fees Earned 7,500 To record tuition earned ($3,000 x 2 1/2 months). To record the insurance expired. To record supplies used ($8,000 - $2,800). Depreciation Expense— Equipment Accumulated Depreciation —Equipment To record equipment depreciation. Depreciation Expense— Profess. Library A ccumul. Depreciation— Profess. Library To record professional library depreciation. To record 2 months’ training fees earned that were collected in advance.
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Adjustment (g) 31 Salaries Expense 400 Salaries Payable 400 Adjustment (h) 31 Rent Expense 3,000 Prepaid Rent 3,000 Part 3 WELLS TECHNICAL INSTITUTE Adjusted Trial Balance 31-Dec-08 Debit Credit Cash $34,000 7,500 2,800 9,600 0 35,000 $17,200 80,000 To record accrued salaries (2 days x $100 x 2 employees).
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