there are 3 parts

part 1

part 2

part 3

Thats all to it

Wells Technical Institute (WTi), a school owned by Tristana. Wells, provides training to individuals who pay tuition directly to the school WII also olfers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trlal 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 $3,071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2.662 are avallable at year-end. c. Annual depreciation on the equipment is $12.285. d. Annual depreclation on the professional library is $6,142. e. On September 1. WTI agreed to do five courses for a cllent for $3,000 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The cllent paid $15,000 cash in advance for all five courses on September 1 , and WTI credited Unearned Revenue. f. 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,$7,600 of the tuition revenue has been earned by WTL. 9. WTi's two employees are paid weekly. As of the end of the year, two days' salarles 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 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 0. An analysis of WTI's insurance policies shows that $3.071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are available at year-end. c. Annual depreciation on the equipment is $12.285. d. Annual depreciation on the professional library is $6,142. e. On September 1, WTI agreed to do five courses for a client for $3,000 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 $15,000 cash in advance for all five courses on SeptembeI 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, $7,600 of the tuition revenue has been earned by WTI. 9. WT'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. 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. 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 prepald expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 3 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 $3,071 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,662 are available at year-end. c. Annual depreciation on the equipment is $12,285. d. Annual depreciation on the professional library is $6,142. e. On September 1, WTI agreed to do five courses for a client for $3.000 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin untl next yeat. The client paid $15,000 cash in advance for all five 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, $7,600 of the tultion revenue has been earned by WTI. g. WTI's two employees are paid weekly. As of the end of the year, two days' salarles have accrued at the rate of $100 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. 3-0. Prepare Welts Technical institute's income statement for the year. 3-b. Prepare Wells Technical Institute's statement of retained carnings for the year. The Retained Earnings account balance was $80,000 on December 31 of the prior year. 3-c. Prepare Wells Technical Institute's balance sheet as of December 31