! 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. 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 $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 $2,800 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 $14,000 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, $7,450 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 Debit $ 26,642 10,245 15,371 2,050 30,739 $ 9,223 102,000 16,396 26,000 nearned training fees Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable 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 14,000 26,610 77,000 40,988 104,516 38,937 49,186 22,550 7,173 5,738 $ 312,682 $312,682 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. Complete this question by entering your answers in the tabs below. Reg 2A Req 2B Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts. Cash Equipment Unadj. Bal Unadj. Bal Adj. Bal. Adj. Bal Accounts Receivable Accumulated Depreciation Equipment Unadj. Bal. Unadj. Bal Adj Bal. Adj. Bal. Teaching Supplies Accounts Payable Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Prepaid Insurance Salaries Payable Unadj. Bal Unadj. Bal Adj. Bal. Adj. Bal. Prepaid Rent Unearned Training Fees Unadj. Bal. Unadj. Bal Adj. Bal Adj. Bal Professional Library Common stock Unadj. Bal. Unadj. Bal. Professional Library Common stock Unadj. Bal Unadj. Bal Adj. Bal. Adj. Bal. Retained earnings Accumulated Depreciation-Professional Library Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Tuition Fees Earned Dividends Unadj. Bal. Unadj. Bal. Adj. Bal Adj. Bal. Training Fees Earned Rent Expense Unadj. Bal Unadj. Bal. Adj. Bal. Adj. Bal. Depreciation Expense-Professional Library Teaching Supplies Expense Unadj. Bal. Unadj. Bal. Adj. Bal Adj. Bal. Depreciation Expense-Equipment Advertising Expense Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Salaries Expense Utilities Expense Unadj. Bal. Unadj. Bal Adj. Bal Adj. Bal Required information Unadj. Bal Unadj. Bal Adj. Bal Adj Bal Tuition Fees Earned Dividends Unadj. Bal. Unadj. Bal. Adj. Bal Adj. Bal. Training Fees Earned Rent Expense Unadj. Bal. Unadj. Bal Adj. Bal. Adj. Bal. Depreciation Expense-Professional Library Teaching Supplies Expense Unadj. Bal Unadj. Bal Adj. Bal. Adj. Bal Depreciation Expense-Equipment Advertising Expense Unadj. Bal. Unadj. Bal. Adj. Bal Adj. Bal Salaries Expense Utilities Expense Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Insurance Expense Unadj. Bal. Adj. Bal