Wells Technical state, a school owned by Tristan Wells, provides ang to individuals who paysition diectly to the school WTI offers aing to grosoft site location will records prepade penses and named revenues in balance she counts industrial balonces of December folosing with descriptions items through the require austing entries on December Additional Information Items a. An analysis of Winsurance policies shows that 2.400 of coverage has crowd b. An inventory count shows that eachings costing $7.00 a valuable at yow and c. Annual depreciation on the buipment is $200 d. Annual depreciation on the professional brary is $2200 .. on Septembert WII agreed to do five counters for a chant for $2.500 cach two course wil die and Gris before the end of the year. Three courses will not beginntilat year. The client paid $12.500 cash in advance for at five courses on September and credited Uneaned Training Fees t. On October 15, WI agreed to teach a four monthless beginninginnedate for an executive with payment due at the end of the class A December 31, 57500 of the talon has been camed by WTI. W two employees are paid weekly As of the end of the year, two days salaries have accrued at the rate of $100 day for each employee h. The balance in the Prepaid Rent account represents rett for December WELLS TEORICAL TESTE te trille $ 34,000 3,000 35,000 3 10,000 80,000 15,000 26,600 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation Professional library Equipment Accumulated depreciation wipent Accounts payable Salaries payable thered training fees Cormon stock retained earnings Dividends Tuition fees and Training fees earned Depreciation expense Professional library Depreciation expense-Coulant Solaris Terance expense Bant expense Teaching supplies expense Advertising expense utilities were 12,500 10,000 80.000 50,000 123,500 40,000 50,000 33,000 . $317.00 3. 1 o per Preduce 3.5640 2 ET 3 06 00 00 00 00 15 Men- 1566 772 Dorin Accused durc-Proson bay Urednega 5000 1 11 Tuitend 2 200