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table [ [ table [ [ WELLS TECHNICAL INSTITUTE ] , [ Unadjusted Trial Balance ] , [ December 3 1 ] ]

\table[[\table[[WELLS TECHNICAL INSTITUTE],[Unadjusted Trial Balance],[December 31]]],[,Debit,Credit],[Cash,$ 27,396,],[Accounts receivable,0,],[Teaching supplies,10,536,],[Prepaid insurance,15,806,],[Prepaid rent,2,108,],[Professional library,31,610,],[Accumulated depreciation-Professional library,,$ 9,484],[Equipment,95,000,],[Accumulated depreciation-Equipment,,16,861],[Accounts payable,,26,000],[Salaries payable,,0],[Unearned revenue,,11,500],[T. Wells, Capital,,100,287],[T. Wells, Withdrawals,42,149,],[Tuition revenue,,107,477],[Training revenue,,40,040],[Depreciation expense-Professional library,0,],[Depreciation expense-Equipment,0,],[Salaries expense,50,579,],[Insurance expense,0,],[Rent expense,23,188,],[Teaching supplies expense,0,],[Advertising expense,7,376,],[Utilities expense,5,901,],[Totals,$ 311,649,$ 311,649]] Required information
Problem 3-3A (Algo) Preparing adjusting entries, adjusted trial balance, and financial statements LO P1,
P2, P3, P4, P5
[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. 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 $4,129 of coverage has expired.
b. An inventory count shows that teaching supplies costing $3,578 are available at year-end.
c. Annual depreciation on the equipment is $16,515.
d. Annual depreciation on the professional library is $8,258.
e. On September 1, WTI agreed to do five training courses for a client for $2,300 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
$11,500 cash in advance for all five training courses on September 1, and WTI credited Unearned Revenue.
f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due
at the end of the class. At December 31,$14,550 of the tuition revenue has been earned by WTI.
g. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100
per day for each employee.
h. The balance in the Prepaid Rent account represents rent for December. Required information
\table[[,Debit,Credit],[Cash,$,27,396,],[Accounts receivable,,14,550,],[Teaching supplies,,,],[Prepaid insurance,,,],[Prepaid rent,,,],[Professional library,,31,610,],[Accumulated depreciation-Professional library,,,],[Equipment,,,],[Accumulated depreciation-Equipment,,,],[Accounts payable,,,],[Salaries payable,,,400],[Unearned revenue,,,],[T. Wells, Capital,,,],[T. Wells, Withdrawals,,,],[Tuition revenue,,,14,550],[Training revenue,,,],[Depreciation expense-Professional library,,8,258,],[Depreciation expense-Equipment,,16,515,],[Salaries expense,,,],[Insurance expense,,4,129,],[Rent expense,,,],[Teaching supplies expense,,6,958,],[Advertising expense,,,],[Utilities expense,,,],[Totals,$,109,416,14,950]]
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