WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation-Professional 1ibrary 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 Debit $27,245 e 10,478 15,719 2, 997 31,436 102,000 $9,432 16,768 22,000 13,600 27, 557 82,000 41, 916 106,885 39,820 \begin{tabular}{|r|r|} & 0 \\ 0 & \\ 50,300 & \\ & \\ 23,067 & \\ 0 & \\ 7,336 & \\ 5,868 & \\ \hline 317,462 & $317,462 \\ \hline \end{tabular} 2-a. Post the balance from the unadjusted trial balance and the adjusting entries into the T-accounts. [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 als 8 offer to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet acc Its unadjusted trial balance as of December 31 follows, along with descriptions of items a through h that require ad 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 avallable 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 $2,600 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 Uneamed Revenue. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment at the end of the class. At December 31,$9,250 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 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. \begin{tabular}{|l|l|l|} \hline Accumulated depreciation-Equipment & & \\ \hline Accounts payable & & \\ \hline Salaries payable & & \\ \hline Unearned revenue & & \\ \hline Common stock & & \\ \hline Retained earnings & & \\ \hline Dividends & & \\ \hline Tuition revenue & & \\ \hline Training revenue & & \\ \hline Depreciation expense-Professional library & & \\ \hline Depreciation expense-Equipment & & \\ \hline Salaries expense & & \\ \hline Insurance expense & & \\ \hline Rent expense & & \\ \hline Teaching supplies expense & & \\ \hline Advertising expense & & \\ \hline Utilities expense & & \\ \hline Totals & & \\ \hline & & \\ & & \\ & & \\ \hline \end{tabular} WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31 \begin{tabular}{|l|l|l|} \hline Cash & Debit & Credit \\ \hline Accounts receivable & $ & \\ \hline Teaching supplies & & \\ \hline Prepaid insurance & & \\ \hline Prepaid rent & & \\ \hline Professional library & & \\ \hline Accumulateddepreciation-Professionallibrary & & \\ \hline Equipment & & \\ \hline Accumulated depreciation-Equipment & & \\ \hline Accounts payable & & \\ \hline Salaries payable & & \\ \hline Unearned revenue & & \\ \hline Common stock & & \\ \hline Retained earnings & & \\ \hline Dividends & & \\ \hline Tuition revenue & & \\ \hline Training revenue & & \\ \hline Depreciation expense-Professional library & & \\ \hline Depreciation expense-Equipment & & \\ \hline \end{tabular}