Problem $3-3$A $($Static$)$ Preparing adjusting entries, adjusted trial balance, and financial statements LO P$1.$ P$2,$ P$3,$ P$4,$ P$5$

The following informatian apples to the questans dspldyed below$]$

Wells Tectevical Insthute $($WTi$).$ a school owned by Tristana Welis, provides training ta individuals wiro pay funtion directly to the schooi. WTI also offers training to grougs in off$-$ste localkins. Wh innaly records prepaid expenses and unearned reverves in baignce sheet accounts. Its unadjusted trial balance as of Oecersber $31$ fallows along with descriptions of items a through hthat require adusing entries on Decerifuer $31$

Additionel informntion

a$.$ An anaylic of WT

b$.$ An inventsry count shows that leaching supplics cosing $$2\mathrm{.}800$ are quable at year$-$end

c$.$ Amnual depreciation on the equipricet is $$13,200.$

e$.$ Ariual deprectanon on the professional library is $$7,200$

e$.$ On Septembet $?$ WTI agrecd to do fre training courses for a clent for $$2\mathrm{.}500$ each Two courses will start immediately and finish belore the end of the year. Three courses wil not begn untbl nent year. The client paid $512\mathrm{.}500$ cash in ackance for all five tvaning coarses on Sephemoel $1$ and Whi crecited Uhearned Revenue

f$.$ On Octobel is$,$ WTI agreed ta teach a four$-$morth class poegincing livmedatelyf for an executhe whith payment oue of the end of the cless. At December $31,57,500$ of the tupsen revenue has been eamed by $WT1.$

Q$.$ WTIs two employees are pard weekly. As of the end of the year, twue days' salories, have actued at the rate of $$100$ pet thay $4$ or each emploree.

h$.$ The halance in the Prepaid Rem accoum represents rent tor Decemtbor

atils TECHDCAL IWSTETUTE