The following the app , Teste We're greges ESTERI ...: Bagi wier... 20 Slage LETTE Um TriBe La Pary remary 10 Singlim SET - hy aalarie in the tains theias. . WRITE Required Information [The following information applies to the questions displayed below.] Wells Technical Institute (WTI) 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 $2.674 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,318 are available at year-end. c. Annual depreciation on the equipment is $10.698. d. Annual depreciation on the professional library is $5,349. e. On September 1. WTI agreed to do five training courses for a client for $2.500 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 $13.000 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. $6.653 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. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Debit Credit $ 27,698 0 10,652 15,981 2,132 31,958 $ 9,589 96,298 17,646 25, eee Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned revenue Common stock Retained earnings Dividends Tuition revenue Training revenue Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 13,00 19, 267 82, eee 42.613 188,661 40.482 0 51, 136 23,452 7,457 5.966 $ 315,845 $ 315,845 2-a. Post the balance from the unadjusted trial balance and the adjusting entries into the T-accounts. 2-b. Prepare an adjusted trial balance