Additional Information Items a. An analysis of WTI's insurance policies shows that $3,203 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,776 are available at year-end. c. Annual depreciation on the equipment is $12,814. d. Annual depreciation on the professional library is $6,407. e. On September 1, WTI agreed to do five 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 courses on September 1, and WTI credited Unearned Training Fees. 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, $10,000 of the tuition 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 WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Credit Debit $ 27,245 8 10,478 15,719 2,097 31,436 $ 9,432 73,338 16,768 37, 749 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 41,916 11,500 66,646 106,885 39,820 50,300 0 23,067 0 7,336 5,868 $ 288,800 $288,800 Cash Equipment Unadj. Bal. Unadj. Bal. Adj. Bal Adj. Bal. Accounts Receivable Accumulated Depreciation- Equipment Unadi Bal. Unadj. Bal. Adj. Bal. 0 Adi. Bal. Teaching Supplies Accounts Payable Unadi Bal. Unadj. Bal. Adj. Bal. 0 Ad. Bal. 0 Prepaid Insurance Salaries Payable Unadj. Bal Unadi. Bal. Adj. Bal. 0 Adj. Bal. Prepaid Rent Unadi Unearned Training Fees Unadi- Bal. Bal. Adj. Bal. 0 Adi. Bal 0 Professional Library T. Wells, Capital Unadj. Bal. Unadi Bal. Adj. Bal. 0 Adj. Bal. T. Wells, Withdrawals Accumulated Depreciation- Professional Library Unadi Bal. Unadj. Bal. Adj. Bal. 0 Adi. Bal. 0 Tuition Fees Earned Rent Expense Unadi. Bal. Unadj. Bal. Adj. Bal. 0 Adj. Ball 0 Tuition Fees Earned Rent Expense Unadj. Bal. Unadj. Bal. Adj. Bal. 0 Ad, Bal. Training Fees Earned Unadi. Bal. Teaching Supplies Expense Unadj. Bal. Adj. Bal. 0 Adj. Bal. 0 Advertising Expense Depreciation Expense-Professional Library Unadi Bal. Unadi Bal. Adj. Bal. 0 Adj. Bal. 0 Utilities Expense Depreciation Expense-Equipment Unadj. Bal. Unadi Bal. Adj. Bal. 0 Ad, Bal. 0 Salaries Expense Insurance Expense Unadi. Bal. Unadi. Bal. Adj. Bal. 0 Adj. Bal. 0 RAO? Reg 2 > Credit WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31 Debit Cash $ 27,245 Accounts receivable 0 Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciationProfessional library Equipment Accumulated depreciation Equipment Accounts payable Salarios payable Uneamed training fees T. Wells, Capital T. Wells, Withdrawals Tuition fees earned Training fees earned Depreciation expenseProfessional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals $ 27,245 S 0 Reg 2A