$\backslash$table$[[\backslash$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 $3-3$A $($Algo$)$ Preparing adjusting entries, adjusted trial balance, and financial statements LO P$1,$

P$2,$ P$3,$ P$4,$ P$5$

$[$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

"THE REQUIRED INFORMATION" 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

$\backslash$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]]$