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 that require adjusting entries on December 31, 2017, follow. Additional Information Items a. An analysis of Wil's insurance policies shows that $2,400 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,800 are available at year-end 2017. c. Annual depreciation on the equipment is $13,200. d. Annual depreciation on the professional library is $7.200 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 $2,500, 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 $3,000 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 $ 34,000 Credit 8,000 12,000 3,000 35,000 $ 10,000 80,000 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 15,000 26,000 0 12,500 90,000 50,000 123,900 40,000 0 0 50,000 0 33,000 0 6,000 6,400 $ 317,400 $317,400 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 2A Reg 28 Post the balance from the unadjusted trial balance and the adjusting entries in to the T-accounts. Equipment Unadi Bal 26,944 Unadi. Bol 72,533 Cash 26.9443 53,888 Adj. Bal Adj. Bal 72,533 Accounts Receivable Unadj Bal f Accumulated Depreciation-Equipment Unadj. Bal 0 16,582 7,600 C > 12,285 Required information Unadj. Bal Cash 26,944 Equipment 72,533 Unadj. Bal. 26,944 X 53,888 Adj. Bal. Adj. Bal 72,533 Accounts Receivable Accumulated Depreciation Equipment Unadj. Bal Unadj. Bal f 0 16.582 . 12.285 7,600 X 7,600 15,200 Adj. Bal. Adj. Bal. 28.867 Accounts Payable Unadi Bal Teaching Supplies 10,362 Unadj. Bal 33,702 b 7,700 Adj. Bal 2,662 Adj. Bal 33,702 Required information Salaries Payable Prepaid Insurance 15,545 Unadi: Bal 2 3,071 % Unadj. Bal 9 > 400 Adj. Bal. 12,474 Adj. Bal 400 Prepaid Ront 2,073 Unearned Training Fees Unadj. Bal Unadj. Bal 15,000 h e 6,000 2,073 Adj. Bal. 0 Adj. Bal. 9,000 Professional Library T. Wells, Capital Unadj Bal 31.088 Unadj. Bal 15,000 X 0 Adj. Bal 31,088 Adj. Bal. 15,000 Required information T. Wells, Withdrawals Accumulated Depreciation--Profossional Library Unadj. Bal 9,328 d 6.142 Unadj. Bal 41,452 > Adj. Bal 15,470 Adj. Bal. 41,452 Tuition Fees Earned Rent Expense Uradi Bal. 105,701 Unadj. Bal 22,803 % 7,600 h 2,073 Adj. Bal 113.301 Adj. Bal 24,876 Training Fees Earned Teaching Supplies Expense 0 Unadi Bal 0 39,379 Unadj. Bal. 0 6,000 b 7,700 Adj. Bal 45,379 Adj. Bal 7.700 annunca! Ann Ewe