Required information (The following informmion applies to the questions displayed below]. Wens Technical institute (WTD provides training to individuals who pay turtion directly to the school. WTI also offers training to groups in off-gte locations. WTI initially records prepald 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 ltems a. An analysis of WTis insurance policies shows that $3,203 of coverage has expired. b. An inventory count shows that teoching supplies costing $2,776 are available at year-end. c. Annual depreclation on the equipment is $12.814. d. Annual depreciation on the professional ibrary is $6,407, 6. On September 1 WTI agreed to do five training courses for a client for $2.700 each. Two courses will start immediately and finish before the end of the yeat. Three courses will not begin until next yeat, The client paid $13,500 cash in advance for all five taining courses on September 1, and WTi credited Uneamed Revenue. t. On October 15. WTi agreed to teach a fourmonth class (beginning immed ately for an executive with payment die at the end of the class. At December 31,$9,000 of the tuition revenue has been earned by WTI. 0. WTis two employees are pald 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. 2-a. Post the balence from the unadjusted trial balance and the adjusting entiles into the Taccounts. 2.b. Prepare an adpusted trial balance \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Training Revenue } \\ \hline Unadjusted Baiance & & & \\ \hline & & & \\ \hline & & & \\ \hline AGusiled Balance & 0 & & \\ \hline \end{tabular} Required information The following information applies to the questions displayed below.] Wells Technical institute (WTI) provides training to indlviduals who pay tultion 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 $3,203 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,776 are available at year-end. c. Annual depreciation on the equipment is $12,814. d. Annual depreciation on the professional library is $6,407. e. On September 1, WTI agreed to do five training courses for a client for $2,700 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 $13,500 cash in advance for all five training courses on September 1, and WTI credited Unearned Revenue. 1. On October 15, WTI agreed to teach a four-month class (beginning immedlately) for an executive with payment due at the end of the class. At December 31,$9,000 of the tuition revenue has been earned by WTI. 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. 1 Required information
