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, 2017 follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow. Additional Information Items a. An analysis of WTI's insurance policies shows that $2,674 of coverage has expired b. An inventory count shows that teaching supplies costing $2.318 are available at year-end 2017 c. Annual depreciation on the equipment is $10,698. d. Annual depreciation on the professional library is $5,349. ovember 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 wh f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $2.461 tuition p 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 a s 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 b alance in the Prepaid Rent account represents rent for December WELLS December 31, 2017 Credit Accounta receivable supplies 2 Cash Accounts receivable Teaching supplies Prepaid insurance Part 2 of 3 s 28,151 10,826 16,242 2,166 32,481 Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees 75,784 17,325 36,886 14,000 11,000 57,862 Dividends Tuition fees earned Training fees carned 43,310 References 41,143 Depreciation expense-Equipment Salaries expense Insurance expense Rent expense 51,972 23,826 7,579 Advertising expense Utilities expense Totals 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 n br entering your answers in the tabs below. Adj. Bal. Adj. Bal Adj. Ba Adj. Bal Adj Bal Adj. Bal Adj. Bal Adj. Bal Adj. Bal Co Adj. Bal Required info se nt Adj. Bal Adj. Bal. Unadj. Bal ok Adj. Bal, Adj. Bal
