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unadusted balance

$\backslash$table$[[$Unadustea balance,,,$],[,,,],[$Adjusted Balance,,,$]]$

$\backslash$table$[[$Professional Library,$],[$Unadjusted Balance,,$],[,,],[$Adjusted Balance,,$]]$

Accumulated Depreciation$-$Professional Library

$\backslash$table$[[$Unadjusted Balance,,,$],[,,,],[,,,],[$Adjusted Balance,$0,,]]$

Unaq$|$usted balance

$\backslash$table$[[$Unaqusted Balance,,,$],[,,,],[,,,],[$Adjusted Balance,$0,,]]$

$\backslash$table$[[$Common Stock,,$],[$Unadjusted Balance,,,$],[,,,],[,,,],[$Adjusted Balance,$0,,]]$

$\backslash$table$[[,$Retained Earnings,$],[$Unadjusted Balance,,,$],[,,,],[,,,],[$Adjusted Balance,,,$],[,,,]]$

$\backslash$table$[[$Rent Expense,,$],[$Unadjusted Balance,,,$],[,,,],[,,,],[$Adjusted Balance,,,$]]$

$\backslash$table$[[,$Advertising E$,$Expense$],[$Unadjusted Balance,,$],[,,],[,,],[$Adjusted Balance,$0,]]$

$R=42$ A

Req $2$B

$89F$

Mostly sunny Prepare an adjusted trial balance.

$\backslash$table$[[$WELLS TECHNICAL INSTITUTE,,$],[$December $31,$Debit,$],[,,$Credit$],[$Cash$,,],[$Accounts receivable,,$],[$Teaching supplies,,$],[$Prepaid insurance,,$],[$Prepaid rent,,$],[$Professional library,,$],[$Accumulated depreciation$-$Professional library,,$],[$Equipment$,,],[$Accumulated depreciation$-$Equipment,,$],[$Accounts payable,,$],[$Salaries payable,,$],[$Unearned revenue,,$],[$Common stock,,$],[$Retained earnings,,$],[$Dividends$,,],[$Tuition revenue,,$],[$Training revenue,,$],[$Depreciation expense$-$Professional library,,$],[$Depreciation expense$-$Equipment,,$],[$Salaries expense,,$],[$Insurance expense,,$],[$Rent expense,,$],[$Teaching supplies expense,,$],[$Advertising expense,,$],[$Utilities expense,,$],[$Totals$,,]]$

$89F$

Mostly sunny

SearchCH$3-6$ Required information

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$[$The following information applies to the questions displayed below.$]$

Wells Technical Institute $($WTI$)$ provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off$-$site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December $31$ follows, along with descriptions of items a through h that require adjusting entries on December $31.$

Additional Information Items

An analysis of WTI's insurance policies shows that $$3,203$ of coverage has expired.

An inventory count shows that teaching supplies costing $$2,776$ are available at year$-$end.

Annual depreciation on the equipment is $$12,814.$

Annual depreciation on the professional library is $$6,407.$

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 $31,$ $$9,000$ 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 $ $26,793$

Accounts receivable $0$

Teaching supplies $10,304$

Prepaid insurance $15,458$

Prepaid rent $2,062$

Professional library $30,913$

Accumulated depreciation$$Professional library $ $9,275$

Equipment $103,000$

Accumulated depreciation$$Equipment $16,489$

Accounts payable $24,000$

Salaries payable $0$

Unearned revenue $13,500$

Common stock $24,351$

Retained earnings $83,000$

Dividends $41,220$

Tuition revenue $105,108$

Training revenue $39,158$

Depreciation expense$$Professional library $0$

Depreciation expense$$Equipment $0$

Salaries expense $49,464$

Insurance expense $0$

Rent expense $22,682$

Teaching supplies expense $0$

Advertising expense $7,214$

Utilities expense $5,771$

Totals $ $314,881$ $ $314,881$

$2-$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.

$89F$

Mostly sunny

$$

Q

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

$89F$

Mostly sunny

$$

Q

Searc