Acct 2301 Chap 3 excel solution1

Acct 2301 Chap 3 excel solution1 - Given DataChap 3 WELLS...

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Given DataChap 3 WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2008 Cash $34,000 Accounts receivable - Teaching supplies 8,000 Prepaid insurance 12,000 Prepaid rent 3,000 Professional library 35,000 Accumulated depreciation-Professional library $10,000 Equipment 80,000 Accumulated depreciation-Equipment 15,000 Accounts payable 38,500 Salaries payable - T. Wells, Capital 90,000 T. Wells, Withdrawals 50,000 Tuition fees earned 123,900 Training fees earned 40,000 Depreciation expense-Professional library - Depreciation expense-Equipment - Salaries expense 50,000 Insurance expense - Rent expense 33,000 Teaching supplies expense - Advertising expense 6,000 Utilities expense 6,400 Totals $317,400 $317,400 Additional items for December 31, 2008 adjusting entries: (a) Expired insurance coverage $2,400 (b) Teaching supplies on hand 2,800 (c) Annual equipment depreciation 13,200 (d) Annual professional library depreciation 7,200 (e) Two employees accrue wages for two days (daily wage) 100 (f) Balance in Prepaid Rent account is for December 3,000 Check figures: (3) Adjusting Trial Balance totals 338,200 (4) Net income 37,100 Ending T. Wells, Capital 77,100
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Wells Technical Institute General Ledger Cash Account No. Trans Date Explanation No Debit Credit Balance Dec 31 Unadjusted Balance 34,000 A/R Account No. Trans Date Explanation No Debit Credit Balance Dec 31 Unadjusted Balance 0 Teaching Supplies Account No. Trans
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This note was uploaded on 06/30/2011 for the course ACCOUNTING 2301 taught by Professor Sarah during the Fall '10 term at HCCS.

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Acct 2301 Chap 3 excel solution1 - Given DataChap 3 WELLS...

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