Following is the unadjusted trial balance for Augustus Institute as of December 31, 2013, which...
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Following is the unadjusted trial balance for Augustus Institute as of December 31, 2013, which initially records prepaid expenses and unearned revenues in balance sheet accounts. The institute provides one-on-one training to individuals who pay tuition directly to the business and offers extension training to groups in off-site locations. Shown after the trial balance are items a through h that require adjusting entries as of December 31, 2013.
| Augustus Institute | ||
| Unadjusted Trial Balance | ||
| December 31, 2013 | ||
|
| Debit | Credit |
| Cash | 60,000 |
|
| Accounts Receivable | 0 |
|
| Teaching Supplies | 70,000 |
|
| Prepaid Insurance | 19,000 |
|
| Prepaid Rent | 3,800 |
|
| Professional Library | 12,000 |
|
| Accumulated Depreciation - Professional Library |
| 2,500 |
| Equipment | 40,000 |
|
| Accumulated Depreciation | ||
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