Additional Information Items a. An analysis of WTI's insurance policies showsthat $3,996 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,464 are available at year-end 2015 c. Annual depreciation on the equipment is $15,986. d. Annual depreciation on the professional library is $7,993. e. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,400, 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 2016. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $5,461 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) f. 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. The balance in the Prepaid Rent account represents rent for December. h. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2015 Debit $ 26,038 Credi Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional librany 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 10,013 15,023 2,004 30,043 $ 9,014 70,087 16,025 35,065 12,000 63,693 40,059 102,148 38,055 48,071 22,044 7010 5,608 Totals $276,000 $276,000 Adj. Bal. Adj. Bal Ad. Bal Adi Bal Adj Bal Adj. Bal Adj. Bal Adi. Bal Adj. Bal. Adj. Bal Adj. Bal. Adj. Bal. Adj. Bal. Adj. Bal. Adj. Bal Adj. Bal Advertising Expense Depreciation Expense-Equipment Unadj, Bal. Unadj. Bal Adj. Bal. Adj. Bal Utilities Ex Salaries Expense Unadj Ball Unadj. Bal. 0 Adj. Bal. 0 Adj. Bal S TECHNICAL INSTITUTE Adjusted Trial Balance