ezto.mheduca Chapter 03 -Problem II (P3-3) a. An analysis of WTI's insurance policies shows that $2,674 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,318 are available at year-end 2016. c. Annual depreciation on the equipment is $10,698. d. Annual depreciation on the professional library is $5,349. e. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The c was received, the Uneaned Training Fees account was credited. The fee for the sith month will ber f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $ been received. (WTI's accruals are applied to the nearest half-month; for example, October recognize g. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at th h. The balance in the Prepaid Rent account represents rent for December WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2016 Debit Credit $ 26,793 Accounts recelvable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends Tuition fees earned Training fees earned Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense 0,304 15,458 2,062 $ 9,275 72,119 16,489 34,431 14.000 13,108 52,431 41,220 39,158 49.464 22,682 7.214 Advertising expense Utilities expense 5,771 $ 284.000 $ 284,000 ezto.mheduca Chapter 03 -Problem II (P3-3) a. An analysis of WTI's insurance policies shows that $2,674 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,318 are available at year-end 2016. c. Annual depreciation on the equipment is $10,698. d. Annual depreciation on the professional library is $5,349. e. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The c was received, the Uneaned Training Fees account was credited. The fee for the sith month will ber f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $ been received. (WTI's accruals are applied to the nearest half-month; for example, October recognize g. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at th h. The balance in the Prepaid Rent account represents rent for December WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2016 Debit Credit $ 26,793 Accounts recelvable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends Tuition fees earned Training fees earned Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense 0,304 15,458 2,062 $ 9,275 72,119 16,489 34,431 14.000 13,108 52,431 41,220 39,158 49.464 22,682 7.214 Advertising expense Utilities expense 5,771 $ 284.000 $ 284,000
