! Required information (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. Its unadjusted trial balance as of December 31, 2013, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through n that require adjusting entries on December 31, 2013, follow. Additional Information Items a. An analysis of WTl's insurance policies shows that $2,550 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,950 are available at year- end 2013 C. Annual depreciation on the equipment is $13,500. d. Annual depreciation on the professional library is $7,500. 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 $2.800, 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 2014. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $3,300 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. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $130 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, 2013 Debit Credit Cash $37,000 Accounts receivable 0 0 Teaching supplies 8,300 Prepaid insurance 12,300 Prepaid rent 3,300 38,000 Professional library Accumulated depreciation- $ 10,300 Professional library 83,000 Equipment Accumulated depreciation-Equipment 15,300 Accounts payable 29,300 Salaries payable 0 Unearned training fees 14,000 Common stock 13,000 Retained earnings 83,000 53,000 Dividends Tuition fees earned 127,500 Training fees earned 43,000 Depreciation expense-Professional library o Depreciation expense-Equipment 0 53,000 Salaries expense Insurance expense 0 34,500 Rent expense Teaching supplies expense o Advertising expense 6,300 Utilities expense 6,700 Totals $ 335,400 $335.400 1. Post the balance from the unadjusted trial balance and the adjusting entries to the T- accounts. Answer is complete and correct. Answer is complete and correct. Equipment Cash Unadi. Bal. 37.000 Unadi. Bal. 83.000 Adj. Bal 37.000 Adj. Bal 83.000 Answer is not complete. Accounts Receivable Unadi Bal. X Answer is not complete. Accumulated Depreciation Equipment Unadi. Bal. . 15,300 13,500 8.250 Adj. Bal. 8.250 Adj. Bal. 28,BDO Answer is not complete. Teaching Supplies 8,300 Answer is complete and correct. . Accounts Payable 29,300 Unisci Bal f Unadj. Bal. x 5,350 Adj. Bal 2.950 Adj. Bal. 29,300 Answer is not complete. Answer is not complete. Salaries Payable Unadi Bal Prepaid Insurance 12.300 Unadi. Bal. 2,550 520 Adj. Bal 9.750 Adj. Bal. 520 Answer is not complete. Prepaid Rent 3,300 Answer is complete and correct. . Uneamed Training Fees 14,000 5,800 Unad Bal Unadj. Bal. c Adj. Bal. 3.300 Adj. Bal. 8,400 Answer is complete and correct. Answer is complete and correct. Common Stock Unad Bal Professional Library 39,000 Unadj. Bal. 13,000 Adj. Bal. 38,000 Ad). Bal. 13,000 Answer is not complete. Answer is complete and correct. Dividends Accumulated Depreciation Professional Library Unadi. 10,300 Bal. 7,500 Unadj. Bal. 53,000 Adj. Bal 17.BDD Adj. Bal 53,000 Answer is complete and correct. Answer is not complete. Tuition Fees Earned 127,500 Insurance Expense Unad Bal. Unadi. 8.250 2,550 Adj. Bal 135,750 Adj. Bal. 2,550 Answer is not complete. Answer is complete and correct. Training Fees Earned Rent Expense Unadi. Bal. 34.500 43,000 5,600 Unadj Bal. h 3,300 Adj. Bal. 48,600 Adj. Bal 37,800 Answer is complete and correct. Answer is complete and correct. Teaching Supplies Expense Depreciation Expense-Professional Library Unadi Bal. d d 7,500 Unadj. Bal. b 5,350 Adj. Bal. 7.500 Adj. Bal 5,360 Answer is complete and correct. Answer is complete and correct. Depreciation Expense-Equipment Unadi. Bal. Unadi Bal. Advertising Expense 6,300 c 13,500 Adj. Bal 13,500 Adj. Bal. 6,300 Answer is complete and correct. Answer is complete and correct. Salarles Expense Unadj. Bal. Utilities Expense 6,700 Unadi. Bal. 53,000 520 Adj. Bal 53,520 Adj. Bal. 6,700