a. An analysis of WTI's insurance policies shows that $4,129 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,578 are available at year-end, c. Annual depreciation on the equipment is $16,515. d. Annual depreciation on the professional library is $8,258. e. On September 1, WTI agreed to do five courses for a client for $2,700 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 $13,500 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. 4. 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, $13,550 of the tuition has been earned by WTI. 9. Wil'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 Credit Debit $ 27,245 @ 10,478 15,719 2,097 31,436 73, 338 $ 9,432 WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional Library Accumulated depreciation Professional Library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees T. Wells, Capital T. Wells, Withdrawals Tuition fees earned Training fees earned Depreciation expense-Professional Library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 16,768 35, 749 13,500 66,646 106,885 39,820 41,916 50,300 23,067 0 7,336 5,868 $ 288, 890 $288,800 Drou !! Neyt Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end. View transaction list Journal entry worksheet 2 > An inventory count shows that teaching supplies costing $3,578 are available at year-end. Note: Enter debits before credits. Debit Credit Transaction b. General Journal Teaching supplies expense Teaching supplies Record entry Clear entry View general Journal Required information WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31 Debit Credit $ 27,245 13,550 11,590 0 31,436 8,258 73,338 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation--Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees T. Wells, Capital T. Wells, Withdrawals Tuition fees earned Training fees earned Depreciation expense- Professional library Depreciation expense-Equipment Salaries expense Ingrirana aynanga 33,283 35,749 400 8,100 66,646 41,916 120,435 45,220 8,258 16,515 50,700 4 129