c Annual Depreciation on the equipment is 13200 d Annual Depreciation on the

C annual depreciation on the equipment is 13200 d

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b An inventory count shows that teaching supplies costing $2,800 are available at year-end. c Annual Depreciation on the equipment is $13,200 d Annual Depreciation on the professional library is 7200 e f g h The balance in the Prepaid Rent account represents rent for December. General Journal Debit Credit a b c d On Nov 1 Katy agreed to do a special 6 month course starting immediately for a student. The contract calls for a monthly fee of $2500 and the student paid the first 5 months fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the 6th month will be recorded when it is collected next year. On October 15 Katy agreed to teach a 4 month class beginning immediately for a student for $3000 tution per month payable at the end of class. The class started on October 15 but no payment as yet been received. Katy's accruals are applied to the nearest half month. 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.
e f g h
Cash accounts receivable Ref Debit Credit Balance Ref Debit Credit Balance - - - - - - - - Teaching Supplies Ppd Insurance Ref Debit Credit Balance Ref Debit Credit Balance - - - - - - - - Ppd Rent Accounts Receivable Ref Debit Credit Balance Ref Debit Credit Balance - - - - - - - - Equipment Accum Depr Equipment Ref Debit Credit Balance Ref Debit Credit Balance - - - - - - - Prof. Library Accum Depr Library Ref Debit Credit Balance Ref Debit Credit Balance - -
- - Salaries payable

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