es GLO301 (Algo)- Based on the... LO P1, P2, P3, P4, P5, P6 The unadjusted trial balance of the Forever Fitness Company as of December 31 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Forever Fitness Company 1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any 2) Based on a physical count, supplies on hand total $5,100. Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry, if any. 3) The equipment is expected to have an 5-year useful life, and be worth about $9,000 at the end of five years. Review the unadjusted balance in Accumulated depreciation, and prepare the necessary adjusting entry to record the monthly depreciation, if any 4) On December 26, the client paid a $10,800 60-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) Forever Fitness's employee earns $190 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, Forever Fitness agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $4,620. The terms of the initial agreement call for Forever Fitness to provide services from December 12, through January 10, or 30 days of service. The club agrees to pay Forever Fitness $4,620 on January 10, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any Journal entry worksheet < 2 3 4 5 6 The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any. Note: Enter debits before credits. Date Dec 31 Account Title Debit Credit Record entry Clear entry View general journal Unadjusted Revenues: Forever Fitness Income Statement For Month ended December 31, 2021 Expenses: $ 0 0 0 0 0 0 10 0 Unadjusted Forever Fitness Balance Sheet December 31, 2021 Assets Liabilities $ 0 0 0 0 0 0 0 10 13 Liabilities Equity Total equity Total liabilities and equity BA 0 0 0 0 0 0 0 44,000 0 44,000 $ 44,000 St of Retained Earnings Impact on income > Unadjusted Dates: Dec 31 Account affecting the: Adjusting entry related to: Income statement Balance Shoot Insurance Supplies Depreciation Fees collected in advance Salaries Work performed in advance Total impact on income due to adjustments < Balance Sheet to: Dec 31 Impact on net Income 0 L