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. Its unadjusted trial balance as of December 31, 2017, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow.

Additional Information Items

a.An analysis of WTI's insurance policies shows that $3,468 of coverage has expired.

b. An inventory count shows that teaching supplies costing $3,006 are available at year-end 2017.

c. Annual depreciation on the equipment is $13,871.

d. Annual depreciation on the professional library is $6,936.

e. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,300, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018.

f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $4,519 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.)

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.

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. Its unadjusted trial balance as of December 31, 2017 follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow Additional Information Items o. An analysis of WTl's insurance policies shows that $3.468 of coverage has expired b. An inventory count shows that teaching supplies costing $3,006 are available at year-end 2017 c Annual depreciation on the equipment is $13,871 d. Annual depreciation on the professional library is $6,936. e. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,300, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018 f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $4,519 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) 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 h. The balance in the Prepaid Rent account represents rent for December day for each employee WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance Decenber 31. 2017 Debit Credit 27, 547 Cash Accounts receivable Teaching supplies Prepaid insur ance Prepaid rent Professional library Accunul ated depreciation-Professional libr ary Equipnent Accunul ated depreci ation- Equipnent Accounts payable Salaries payable Unearned training fees T. Wells, Capital T. Vells, Withdrawals Tuition fees eamed Training fees earned Depreci at ion expence Professional library Depreciation expense Equipment Salaries expense Insur amce expense Rent expense Teaching supplies expense 10, 594 15, 894 2, 120 31, 784 9, 537 74. 152 16, 954 38, 294 11, 500 67, 385 42. 381 108. 069 40, 261 50, 858 23, 320 Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 23, 320 7. 417 5, 933 $ 292, 000 292, 000 2-o. Post the balance from the unadjusted trial balance and the adjusting entries in to 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 in to the T-accounts. Cash Equipment Unadj. Bal 27,547 Unadj. Bal. Adj. Bal 27,547 Adj Bal Accounts Receivable Accumulated quipment Unadj Bal Unadj. Bal. Adj Bal. Adj Bal Teaching SuppliesUnadj Bal Accounts Payable Unadj Bal Adj Bal Adj Bal Prepaid Insurance Salaries Paysble Unadj. Bal. Unadj. Bal. Adj. Bal. Adj. Bal. Prepaid Rent Unearned Training Fees Unadj. Bal. Unadj. Bal. Adj. Bal Adj. Bal. Professional Library T. Wells, Capital Unadj. Bal Unadj. Bal. Adj Bal. Adj. Bal. T. Wells, Withdrawals Accumulated Depreciation-Professional Library Unadj. Bal Unadj Bal Adj Bal Adj. Bal Tuition Fees Earned Rent Expense Unadj Bal Unadj. Bal Adj. Bal Adj Bal Training Fees Earned Teaching Supplies Expense Unadj. Bal. Unadj. Bal. Adj. Bal. Adj, Bal Depreciation Expense- Professional Library Unadj. Bal Advertising Expense Unadj. Bal. Adj. Bal Adj Bal. Depreciation Expense-Equipment Utilities Expense Unadj. Bal Unadj Bal Adj. Bal Salaries Expense Insurance Expense Unadj. Bal Unadj Bal Adj. Bal Adj Bal Req 2B Required information Cr Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation Professional library Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable Unearned training fees T. Wells, Capital T. Wells, Withdrawals Tuition fees earned Training fees earned Depreciation expense Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense es Teaching supplies expense Advertising expense Utilities expense Totals