5 Part 1 of 3: 4.28 points eBook: Additional Information Items a. An analysis of WTI's insurance policies shows that $2,939 of coverage has expired. b. An inventory count shows that teaching supplies costing $2.547 are available at year-end. c. Annual depreciation on the equipment is $11,756. d. Annual depreciation on the professional library is $5,878. e. On September 1, WTI agreed to do five training courses for a client for $2,300 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $11,500 cash in advance for all five training courses on September 1, and WTI credited Unearned Revenue. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $8,700 of the tuition revenue has been earned by WTI g. 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 h. The balance in the Prepaid Rent account represents rent for December Print WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 References Cash Accounts receivable Debit $27,004 Credit Teaching supplies 10,420 Prepaid insurance 15,632 Prepaid rent 2,085 Professional library 31,262 Accumulated depreciation-Professional library $9,300 Equipment 100,000 Accumulated depreciation-Equipment 16,675 Accounts payable 27,000 Salaries payable Unearned revenue Common stock Retained earnings Dividends Tuition revenue Training revenue Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 11,500 22,818. 81,000 41,684 106,293 39,599 50,022 22,935 0 7,295 5,836 $314,265 $314,265 Prev 5 7 of 7 Nex