Additional Information Items An analysis of WTI's insurance policies shows that $3,864 of coverage has expired An inventory count shows that teaching supplies costing $3,349 are available at year end Annual depreciation on the equipment is $15,458 Annual depreciation on the professional library is $7,729 On September 1, WTI agreed to do five training 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 training courses on September 1, and WTI credited Unearned Revenue 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, $12,250 of the tuition revenue has been earned by WTI 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 WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Debit Credit Cash $ 26,491 Accounts receivable 0 Teaching supplies 10,187 Prepaid insurance 15,284 Prepaid rent 2,039 Professional library 30,565 Accumulated depreciationProfessional library $ 9,171 Equipment 95,000 Accumulated depreciationEquipment 16,303 Accounts payable 26,000 Salaries payable 0 Unearned revenue 13,500 Common stock 20,880 Retained earnings 76,000 Dividends 40,755 Tuition revenue 103,924 Training revenue 38,717 Depreciation expenseProfessional library 0 Depreciation expenseEquipment 0 Salaries expense 48,907 Insurance expense 0 Rent expense 22,429 Teaching supplies expense 0 Advertising expense 7,132 Utilities expense 5,706 Totals $ 304,495 $ 304,495 2 a Post the balance from the unadjusted trial balance and the adjusting entries into the T accounts 2 b Prepare an adjusted trial balance Post the balance from the unadjusted trial balance and the adjusting entries into the T accounts Prepare an adjusted trial balance WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31 Debit Credit Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciationProfessional library Equipment Accumulated depreciationEquipment Accounts payable Salaries payable Unearned revenue Common stock Retained earnings Dividends Tuition revenue Training revenue Depreciation expenseProfessional library Depreciation expenseEquipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals $0 $0

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Additional Information Items

An analysis of WTI's insurance policies shows that $3,864 of coverage has expired.
An inventory count shows that teaching supplies costing $3,349 are available at year-end.
Annual depreciation on the equipment is $15,458.
Annual depreciation on the professional library is $7,729.
On September 1, WTI agreed to do five training 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 training courses on September 1, and WTI credited Unearned Revenue.
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, $12,250 of the tuition revenue has been earned by WTI.
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.

WELLS TECHNICAL INSTITUTE
Unadjusted Trial Balance
December 31
	Debit	Credit
Cash	$ 26,491
Accounts receivable	0
Teaching supplies	10,187
Prepaid insurance	15,284
Prepaid rent	2,039
Professional library	30,565
Accumulated depreciationProfessional library		$ 9,171
Equipment	95,000
Accumulated depreciationEquipment		16,303
Accounts payable		26,000
Salaries payable		0
Unearned revenue		13,500
Common stock		20,880
Retained earnings		76,000
Dividends	40,755
Tuition revenue		103,924
Training revenue		38,717
Depreciation expenseProfessional library	0
Depreciation expenseEquipment	0
Salaries expense	48,907
Insurance expense	0
Rent expense	22,429
Teaching supplies expense	0
Advertising expense	7,132
Utilities expense	5,706
Totals	$ 304,495	$ 304,495

2-a. Post the balance from the unadjusted trial balance and the adjusting entries into the T-accounts.

2-b. Prepare an adjusted trial balance.

Post the balance from the unadjusted trial balance and the adjusting entries into the T-accounts.

Prepare an adjusted trial balance.

WELLS TECHNICAL INSTITUTE
Adjusted Trial Balance
December 31
	Debit	Credit
Cash
Accounts receivable
Teaching supplies
Prepaid insurance
Prepaid rent
Professional library
Accumulated depreciationProfessional library
Equipment
Accumulated depreciationEquipment
Accounts payable
Salaries payable
Unearned revenue
Common stock
Retained earnings
Dividends
Tuition revenue
Training revenue
Depreciation expenseProfessional library
Depreciation expenseEquipment
Salaries expense
Insurance expense
Rent expense
Teaching supplies expense
Advertising expense
Utilities expense
Totals	$0	$0