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 $3,732 of coverage has expired. b. An inventory count shows that teaching supplies costing $3.235 are available at year-end 2017 C. Annual depreciation on the equipment is $14,929. d. Annual depreciation on the professional library is $7,464. 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 $2,200, 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 $5,140 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 $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, 2017 Debit $ 27,698 Credit 10,652 15,981 2,132 31,958 $ 9,589 74,555 17,046 39,068 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 11,000 67,754 42,613 108,661 40,482 OO 51,136 23,452 7, 457 5,966 S 293,600 $293,600 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. Req 2A Reg 28 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 Equipment Accumulated Depreciation Unadj Bal Unadj. Bal. Adj. Bal Teaching Supplies Accounts Payable Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Prepaid Insurance Salaries Payable Unadj. Bal. Unadj. Bal IN Adj. Bal. T T Adj. Bal. Prepaid Rent Unearned Training Fees Unadj. Bal. Unadj. Bal. Adj. Bal Adj. Bal Professional Library T. Wells, Capital Unadj. Bal. Unadj. Ball Required information Professional Library T. Wells, Capital Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Accumulated Depreciation-Professional Library Unadj. Bal. T. Wells, Withdrawals Unadj. Bal. Adj. Bal. Adj. Bal. Tuition Fees Earned Unadj. Bal. Rent Expense Unadj. Bal Adj Bal. Adj. Bal. Training Fees Earned Unad Bal Teaching Supplies Expense Unadj Bal Training Fees Earned Teaching Supplies Expense Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Depreciation Expense-Professional Library Unadj. Bal. Advertising Expense Unadj. Bal. Adj. Bal. Adj. Bal. Depreciation Expense Equipment Unadj. Bal. Utilities Expense Unadj. Bal. Adj. Bal. Adj. Bal Salaries Expense Unadi. Bal. Insurance Expense Unadj Ball Required information madj. Bal. Unadj. Bal. adj. Bal. Adj. Bal. Depreciation Expense Equipment Unadj. Bal. Utilities Expense Unadj. Bal. Adj. Bal. Adj. Bal. Salaries Expense Unadj. Bal. Insurance Expense Unadj. Bal. Adj. Bal. Adj. Bal. Raq 2B > Required information Req 2A Req 2B Prepare an adjusted trial balance. Credit WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31, 2017 Debit Cash Accounts receivable Teaching supplies Prepaid insurance S Prepaid rent Professional library Accumulated depreciation-Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable I am milabaddan naintin C. Required information w ww payuure Unearned training fees T. Wells, Capital T. Wells, Withdrawals Tuition fees earned Training fees earned Depreciation expenseProfessional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals Raq 2A