o. An analysis of WTr's insurance policies shows that $2.939 of coverage has expired b. An inventory count shows that teaching supplies costing $2.547 are available at year-end 2017 c. Annual depreciation on the equipment is $11.756 d. Annual depreciation on the professional library is $5,878. e. On November 1. WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $3,000, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018 f. On October 15. WTI agreed to teach a four-month class (beginning immediately) for an individual for $2.780 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) g wT's two employees are paid weekly As of the end of the year, two days' salaries have accrued at the rate of $100 per h. The balance in the Prepaid Rent account represents rent for December day for each employee. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017 Debit Credit $26,944 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 expenise Totals 1,362 15,545 2,073 31,088 $ 9,328 72,533 16,582 33,702 15,000 12,000 53,988 41,452 105,701 39,379 49,743 22,803 5,803 $ 285,600 $285,600 o. An analysis of WTr's insurance policies shows that $2.939 of coverage has expired b. An inventory count shows that teaching supplies costing $2.547 are available at year-end 2017 c. Annual depreciation on the equipment is $11.756 d. Annual depreciation on the professional library is $5,878. e. On November 1. WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $3,000, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018 f. On October 15. WTI agreed to teach a four-month class (beginning immediately) for an individual for $2.780 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) g wT's two employees are paid weekly As of the end of the year, two days' salaries have accrued at the rate of $100 per h. The balance in the Prepaid Rent account represents rent for December day for each employee. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017 Debit Credit $26,944 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 expenise Totals 1,362 15,545 2,073 31,088 $ 9,328 72,533 16,582 33,702 15,000 12,000 53,988 41,452 105,701 39,379 49,743 22,803 5,803 $ 285,600 $285,600