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 $3,600 of coverage has expired. b. An Inventory count shows that teaching supplies costing $3,120 are available at year-end. c. Annual depreciation on the equipment is $14,400. d. Annual depreciation on the professional library is $7,200. e. On September 1, WTI agreed to do five 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 pald $11,500 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, $11,950 of the tuition revenue has been earned by WTI. g. WTI's two employees are pald 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 $ 26,793 Credit 10,304 15,458 2,862 30,913 $ 9,275 103,eee 16,489 26, 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 11,5ee 22,351 85,000 41,220 105,108 39,158 B @ 49,464 22,682 3 7,214 5,771 $ 314,881 $314,881 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. Complete this question by entering your answers in the tabs below. Req 2A Req 2B Post the balance from the unadjusted trial balance and the adjusting entries into the T-accounts. Cash Equipment Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Accounts Receivable Accumulated Depreciation-Equipment Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Teaching Supplies Accounts Payable Unadj. Bal. Unadj. Bal. Adj. Bal. 0 Adj. Bal. Prepaid Insurance Salaries Payable Unadj. Bal. Unadj. Bal. Adj. Bal. 0 Adj. Bal. 0 Prepaid Rent Unearned Revenue Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. 0 Professional Library Common Stock Unadj. Bal. Unadj. Bal. Adj. Bal. 0 Adj. Bal. 0 Retained Earnings Accumulated Depreciation Professional Library Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Tuition Revenue Dividends Unadj. Bal Unadj. Bal. Adj. Bal. Adj. Bal. 0 Training Revenue Rent Expense Unadj. Bal. Unadj. Bal. Adj. Bal. 0 Adj. Bal. 0 Depreciation Expense-Professional Library Teaching Supplies Expense Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal Depreciation Expense-Equipment Advertising Expense Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. 0 Salaries Expense Utilities Expense Unadj. Bal. Unadj. Bal. Adj. Bal Adj. Bal. Insurance Expense Unadj. Bal. Adj. Bal 0 Prepare an adjusted trial balance. WELLS TECHNICAL INSTITUTE Adjusted Trial Balance December 31 Debit Credit 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 expenseProfessional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals $ 0 S 0