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Wells Technical Institute (WT), a school owned by Tristana Wells, provides troing to individuals who payton directly to the school. WTI also offers training to groups in offsite locations Wrecords prepaid expenses and earned revenues in balance sheet accounts. Its unadjusted trial balances of December 31 fotos song with descrtions of items a through that require adjusting entries on December 31 Additional Information Items o. An analysis of WTi'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 c. Annual depreciation on the equipment is $11.756 d. Annual depreciation on the professional library is $5,878 e. On September 1, WTI agreed to do five courses for a client for $2.600 each. Two courses wit start medustely and finish before the end of the year. Three courses will not begin until next year. The client paid $13.000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees f. 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, $7,950 of the tuition has been earned by WTU g. WTI's two employees are paid weekly. As of the end of the year, two days' salanes have accrued at the rate of $100 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 Debit 27,698 $ 10,652 15,981 2,132 31,958 $ 9,589 74,555 17,046 37,068 13,000 67,754 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 T. Wells, Capital T. Wells, Withdrawals 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 42,613 108,661 40,482 51,136 23,452 7,457 5,966 $ 293,600 $293,600 Wells Technical Institute (WT), a school owned by Tristana Wells, provides troing to individuals who payton directly to the school. WTI also offers training to groups in offsite locations Wrecords prepaid expenses and earned revenues in balance sheet accounts. Its unadjusted trial balances of December 31 fotos song with descrtions of items a through that require adjusting entries on December 31 Additional Information Items o. An analysis of WTi'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 c. Annual depreciation on the equipment is $11.756 d. Annual depreciation on the professional library is $5,878 e. On September 1, WTI agreed to do five courses for a client for $2.600 each. Two courses wit start medustely and finish before the end of the year. Three courses will not begin until next year. The client paid $13.000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees f. 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, $7,950 of the tuition has been earned by WTU g. WTI's two employees are paid weekly. As of the end of the year, two days' salanes have accrued at the rate of $100 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 Debit 27,698 $ 10,652 15,981 2,132 31,958 $ 9,589 74,555 17,046 37,068 13,000 67,754 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 T. Wells, Capital T. Wells, Withdrawals 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 42,613 108,661 40,482 51,136 23,452 7,457 5,966 $ 293,600 $293,600
