Required information The following information applies to the questions displayed below Wells Technical Institute ( WTIL a school owned by Tristana Wells, provides training to individuals who pay tution 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 that require adjusting entries on December 31, 2017 Follow Additional Information Items a. An analysis of WT Insurance policies shows that $3.996 of coverage has expired b. An inventory count shows that teaching supplies costing $3.464 are available at year-end 2017 c. Annual depreciation on the equipment is $15.986 d. Annual depreciation on the professional orary is $7993 e. On November 1. WTI agreed to do a special t-month course (starting immediately for a client. The contract calls for a monthly fee of $2700, 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 t. On October 15, WTI agreed to teach a four month class beginning immediately for an individual for $5161 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) 9. 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 Accounts receivable Teaching supplies 19,345 15.37 Prepaid rent Professional Library Accumulated depreciation brofessional bar Louipment Accumulated depreciation Equipment Accounts payable Unearned training fees Retained earnings Dividends Tuition fees earned 104,516 Depreciation expense-Professional library Depreciation expensous pent Advertising expanse $ 282,400 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 Reg 2A Req 2B Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts. Equipment Cash 26,642 Unadj. Balr Unadj. Bal. 0 Ad Bal Adi Bal 26,642) Equipment Accounts Receivable Accumulated Depreciation Unad Bal Unadj. Bal. Ad Bal Adi Bal 0 Teaching Supplies Accounts Payable Unadi Bal. Unadi. Bal. Ad Bal 0 Adi Balo Prepaid insurance Salaries Payable Unadi Bal Unadj. Bal Adi Balo Adj. Bal 0 Prepaid Rent Unearned Training Fees Unad Bal. Unad, Bali Ad. Bal 0 Adj. Bal. Professional Library Common stock Unadi. Bal. Unadi. Bal Ad Balo TI 0 Ad. Bal. Accumulated Depreciation Professional Library Unad Bal Retained earnings Type here to search Adj. Bal. Retained earnings Accumulated Depreciation - Professional Library Unad Bal Unad Bal Adi Balo Ad Bal Tuition Fees Earned Dividends Unadi. Bal. Unadj. Bal. Bal Adj. Bal 0 Training Fees Earned Rent Expense Unad Bal. Unadi. Bal Adi Bal. Adi. Bal 0 Teaching Supplies Expense Depreciation Expense-Professional Library Unad Bal Unadj. Bal. Adi Bal Adi Bal 0 Advertising Expense Depreciation Expense Equipment Unad Balo 15 986 Unad. Bal. Ad Bal 15,986 Adj. Bal 0 Salaries Expense Utilities Expense Unad Bal Unad Bal 0 insurance Expense NULA Prepare an adjusted trial balance. Credit 9.223 WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31, 2017 Debit Cash $ 26,642) Accounts receivable 01 10,245 Teaching supplies Prepaid insurance 15,371 Prepaid rent 2,050 Professional library 30,739 Accumulated depreciation Professional library Equipment ! 71.718 Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends 40,988 Tuition fees earned Training fees earned Depreciation expense Professional library 0 Depreciation expense Equipment of Salaries expense 49.186 Insurance expense 0 Rent expense 22.550 Teaching supplies expense 0 Advertising expense 7.173 Utilities expense 5.738 Totals $ 282,400 $ 16,396 34,659 0 13,500 14.000 51,169 104,516 38,937 282,400 ( Req2A Movies M Malwarebytes (218) 5 GADGETS TH PH Hot Painful first Time PH Tiny Blonde Screams 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 WT's Insurance policies shows that $3.996 of coverage has expired b. An inventory count shows that teaching supplies costing $3.464 are available at year-end 2017 c. Annual depreciation on the equipment is $15.986. d. Annual depreciation on the professional library is $7.993 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 $2.700, and the client paid the first five months' fees in advance. When the cash was received, the Uneamed Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018 1. On October 15, WTI agreed to teach a four-month class beginning immediately for an individual for $5,161 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 that month for example. October recognides one-half month accrual) 9. WTF'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 11. 2017 accounts receivable Teaching supplies Prepaid Insurance Prepaid rent Professional library Accumulated depreciation Professional lib Acumulated depreciation Equipment ACCOUts payable Salaries payable Unearned training fees Dividends Tuition fees earned Training fees and tensen Teaching Supplies 2-a. Post the balance from the unadjusted trial balance and the adjusting entries in to the accounts