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WELLS TECHNICAL INSTITUTE
Adjusted Trial Balance
December 31

Debit          | Credit
---------------|---------------
Cash           | $34,000
Accounts Receivable | $7,500
Teaching Supplies | $2,800
Prepaid Insurance | $9,600
Prepaid Rent   | $3,000
Professional Library | $35,000
Accumulated Depreciation—Professional Library | $17,200
Equipment      | $80,000
Accumulated Depreciation—Equipment | $28,200
Accounts Payable | $26,000
Salaries Payable | $400
Unearned Revenue | $7,500
Common Stock   | $10,000
Retained Earnings | $80,000
Dividends      | $50,000
Tuition Revenue | $131,400
Training Revenue | $45,000
Depreciation Expense—Professional Library | $7,200
Depreciation Expense—Equipment | $13,200
Salaries Expense | $50,400
Insurance Expense | $2,400
Rent Expense    | $33,000
Teaching Supplies Expense | $5,200
Advertising Expense | $6,000
Utilities Expense | $6,400
---------------|---------------
Total          | $317,500      | $317,500