Check r GLO302 Based on Problem 3-3A LO A1, P1, P3 Adams Technical Institute (ATI ATI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2017, is found on the trial balance tab. ATI initially records require adjusting entries on December 31, 2017, follow I), a school owned by Leslie Adams, provides training to individuals who pay tuition directly to the school. prepaid expenses and uneamed revenues in balance sheet accounts. Descriptions of items a through h that analysis of ATI's insurance policies shows that $2,450 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,280 are available at year-end 2017 c. Annual depreciation on the equipment is $5,600. d. Annual depreciation on the professional library is $10,600. e. On November 1, ATI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2.800, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018 f. On October 15. ATI agreed to teach a four-month class (beginning immediately) for an individual for $4,000 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (ATI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) g. ATI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $240 per day for h. The balance in the Prepaid Rent account represents rent for December each employee Income General Trial Balance Statement Ledger General Requirement Journal Equity Balance Sheet Impact on For transactions a-h, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click "record entry". View transaction list Check r GLO302 Based on Problem 3-3A LO A1, P1, P3 Adams Technical Institute (ATI ATI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2017, is found on the trial balance tab. ATI initially records require adjusting entries on December 31, 2017, follow I), a school owned by Leslie Adams, provides training to individuals who pay tuition directly to the school. prepaid expenses and uneamed revenues in balance sheet accounts. Descriptions of items a through h that analysis of ATI's insurance policies shows that $2,450 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,280 are available at year-end 2017 c. Annual depreciation on the equipment is $5,600. d. Annual depreciation on the professional library is $10,600. e. On November 1, ATI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2.800, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018 f. On October 15. ATI agreed to teach a four-month class (beginning immediately) for an individual for $4,000 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (ATI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) g. ATI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $240 per day for h. The balance in the Prepaid Rent account represents rent for December each employee Income General Trial Balance Statement Ledger General Requirement Journal Equity Balance Sheet Impact on For transactions a-h, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. Each adjustment is posted automatically to the general ledger and trial balance as soon as you click "record entry". View transaction list