Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end.

Adjusting entries (all dated Dec. 31, 2013).

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, 2013, 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, 2013, follow

a.	An analysis of WTI's insurance policies shows that $3,996 of coverage has expired.
b.	An inventory count shows that teaching supplies costing $3,464 are available at year-end 2013.
c.	Annual depreciation on the equipment is $15,986.
d.	Annual depreciation on the professional library is $7,993.
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 $2,200, 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 2014.
f.	On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $5,661 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 Unadjusted Trial Balance December 31, 2013 Debit Credit Cash $ 27,849 Accounts receivable 0 Teaching supplies 10,710 Prepaid insurance 16,068 Prepaid rent 2,143 Professional library 32,133 Accumulated depreciationProfessional library $ 9,641 Equipment 74,966 Accumulated depreciationEquipment 17,139 Accounts payable 39,341 Salaries payable 0 Unearned training fees 11,000 T. Wells, Capital 68,123 T. Wells, Withdrawals 42,845 Tuition fees earned 109,254 Training fees earned 40,702 Depreciation expenseProfessional library 0 Depreciation expenseEquipment 0 Salaries expense 51,415 Insurance expense 0 Rent expense 23,575 Teaching supplies expense 0 Advertising expense 7,498 Utilities expense 5,998 Totals $ 295,200 $ 295,200