2022 , or 30 days of service. The club agrees to pay FastForward $2.700 on January 10,2022 , when the service period Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any. For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adfustments can be found on the income statement tab. (Hint: Select unadjusted on the dropdown.) The unadiusted trial bolance of the FastForward Company as of December 31,2021 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the FastForward Company found in chapter 3 . 7) The balance in Prepald insurance represents a 24-month policy that went into effect on December 1, 2021. Review the unadjusted balance in Prepald insurance, and prepare the necessary adjusting entry, if any. 2) Based on a plysical count, supplies on hand total \$8,670. Review the unadjusted balance in Supplies, and prepare the necessary ad usting entry, if any. 3) The equipment is expected to have a 5-year useful life, and be worth about $8,000 at the end of five years. Review the unadjusted bolance in Accumulated depreciation, and prepare the necessary adjusting entry to record the monthly depreciation, if any. 4) On December 26, the client pald a $3,00060 day fee in advance, covering December 27 to February 24. Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, If any. 5) FastForward's employee eams $70 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last paid on Friday, December 26. Review the unadjusted balance in Salaries expense, and prepare the necessary adjusting. entry, if any. 6) In the second week of December, FastForward agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $2,700. The terms of the initial agreement call for FastForward to provide services from December 12,2021 , through January 10 . 2022 , or 30 days of service. The club agrees to pay FastForward $2,700 on January 10, 2022, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any. 2022 , or 30 days of service. The club agrees to pay FastForward $2.700 on January 10,2022 , when the service period Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any. For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adfustments can be found on the income statement tab. (Hint: Select unadjusted on the dropdown.) The unadiusted trial bolance of the FastForward Company as of December 31,2021 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the FastForward Company found in chapter 3 . 7) The balance in Prepald insurance represents a 24-month policy that went into effect on December 1, 2021. Review the unadjusted balance in Prepald insurance, and prepare the necessary adjusting entry, if any. 2) Based on a plysical count, supplies on hand total \$8,670. Review the unadjusted balance in Supplies, and prepare the necessary ad usting entry, if any. 3) The equipment is expected to have a 5-year useful life, and be worth about $8,000 at the end of five years. Review the unadjusted bolance in Accumulated depreciation, and prepare the necessary adjusting entry to record the monthly depreciation, if any. 4) On December 26, the client pald a $3,00060 day fee in advance, covering December 27 to February 24. Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, If any. 5) FastForward's employee eams $70 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last paid on Friday, December 26. Review the unadjusted balance in Salaries expense, and prepare the necessary adjusting. entry, if any. 6) In the second week of December, FastForward agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $2,700. The terms of the initial agreement call for FastForward to provide services from December 12,2021 , through January 10 . 2022 , or 30 days of service. The club agrees to pay FastForward $2,700 on January 10, 2022, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any