problem 3 3a preparing adjusting entries adjusted trial balance and financial statem 688019
Problem 3 3A Preparing adjusting entries, adjusted trial balance, and financial statements L.O. A1, P1, P2, P3
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Watson Technical Institute (WTI), a school owned by Tom Watson, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off site locations. Its unadjusted trial balance as of December 31, 2011, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2011, follow.