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[The following information applies to the questions displayed below.) Wells Technical Institute (WTI), a school owned by Tristana Wells, 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 a. An analysis of WTI's insurance policies shows that $3,996 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,464 are available at year-end, c. Annual depreciation on the equipment is $15,986, d. Annual depreciation on the professional library is $7.993. e. On September 1. WTI agreed to do five courses for a client for $2,400 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 $12,000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. 1. 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, $13,653 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 Cash Accounts receivable Debit $ 27,094 0 WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Credit Debit $ 27,094 0 10,420 15,632 2,085 31, 262 $ 9,380 99,000 16, 675 23,000 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 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 Advertising expense Utilities expense Totals 12,000 22, 318 84,000 41,684 106,293 39,599 50,022 e 22,935 7, 295 5,836 $ 313,265 $313,265 5 2-a. Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts. 2-b. Prepare an adjusted trial balance, Answer is not complete. Complete this question by entering your answers in the tabs below Req 2A Req 2B Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts. Cash 27,094 Equipment 99.000 Unadj. Ball Unadi. Bal. Adj. Bal. 27,094 Adj. Bal 99,000 Accounts Receivable Accumulated Depreciation-Equipment Unadj. Bal 0 Unadj. Bal 13,653 Adj. Bal. 13,653 Adj. Bal 0 RE 15 Required information Common stock Professional Library 31.262 art 2 of Unadi. Bal Unadj. BA > Adj. Bal 31,262 Adj Bal 0 Retained earnings Accumulated Depreciation-Professional Library Unadi. Bal 0 Unad. B. 0 + Adj. Bal 0 Adj Bal 0 Tuition Fees Earned Dividends 41.684 Unadj. Bal 0 Unad Bal Adj Bal. 0 Adj Bal 41,684 Training Fees Earned Rent Expense 22.935 Unadj. Bal > Unadj. Bal h 2.085 5 Required information Training Fees Earned 0 of Unadi. Bal Unadj. Bal Rent Expense 22,935 2,085 |Adj. Bal 0 Adj. Bal 25.020 Depreciation Expense-Professional Library Unadi. Bal Teaching Supplies Expense 0 Unadj. Bal b. + Adj. Bal 0 Adj Bal 0 Depreciation Expense-Equipment 0 Unadj. Ball Advertising Expense 7.295 Unadj. Bal Adj. Bal 0 Adj. Bai 7.295 Utilities Expense Unadj. Bal Salaries Expense 50.022 ann Unadj. Ball 5.836 nnect Assignment 3 Saving Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not inc Required information Depreciation Expense Equipment 0 Advertising Expense 7.295 Unadj. Ball Unadj. Bal Adj. Bal 0 Adj. Bal 7.295 Salaries Expense 50.022 400 Utilities Expense 5,836 Unadj. Bal. Unadj. Bal + Adj. Bal 50,422 Adj. Bal 5.836 Insurance Expense Unadj. Bal 0 Adj. Bal. 0 Req 2B > 15 Prepare an adjusted trial balance Part 2 of 3 Credit 5 points WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31 Debit Cash $ 27,094 Accounts receivable 13,653 Teaching supplies 3,464 Prepaid insurance 11.636 Prepaid rent Professional library 31,262 Accumulated depreciation Professional library Equipment 99,000 Accumulated depreciation Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends 41,684 Tuition fees earned Training fees named Mc Graw Prev 16 16 un BE 15 Required information Part 2 of 3 5 points 41.684 Accounts payable Salaries payable Uneamed training fees Common stock Retained earnings Dividends Tuition fees earned Training fees eamed Depreciation expense --Professional library Depreciation expense Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 50,422 25.020 7,295 5,836 316,366 $ IS 0