PacRim Careers provides training to individuals who pay tuition directly to the business. The business also offers extension training to groups in off-site locations. Additional information available at the December 31, 2020, year-end follows: a. An analysis of the company's policies shows that $1,190 of insurance coverage was prepaid for next 6 months need to be recorded. b. An inventory shows that teaching supplies costing $390 are on hand at the end of the year. c. The estimated annual depreciation on the equipment is $7,250. d. The estimated annual depreciation on the professional ibrary is $4,230. e. The school offers off-campus services for specific employers. On November 1 , the company agreed to do a special six-month course for a client. The contract calls for a monthly fee of \$790, and the client paid the first five months' revenue in advance. When the cash was received, the Unearned Extension Revenue account was credited. f. On October 15 , the school agreed to teach a four-month class for an individual for $1,140 tuition per month payable at the end of the class. The services to date have been provided as agreed, but no payment has been received. g. The school's two employees are paid weekly. As of the end of the year, three days' wages have accrued at the rate of $110 per day for each emplovee. h. The balance in the Prepaid Rent account represents the rent for three months: December, January, and February. Required: Journal Entry Trial Balances (Adjustments, Adjusted Trial Balances) Income Statement Statement of changes in equity Balance Sheet \begin{tabular}{|c|c|c|} \hline \multirow{2}{*}{ Account } & \multicolumn{2}{|c|}{ Unadjusted Trial Balance } \\ \hline & Dr. & cr. \\ \hline Cash & 17.400 & \\ \hline Accounts receivable & 0 & \\ \hline \begin{tabular}{|l|} Teaching supplies \\ \end{tabular} & 5,900 & +4 \\ \hline Prepaid insurance & 1,340 & \\ \hline Prepaid rent & 6,300 & \\ \hline Professional library & 56,400 & \\ \hline Accumulated depreciation, professional library & & 16,920 \\ \hline Equipment & 87,000 & \\ \hline Accumulated depreciation, equipment & & 29,000 \\ \hline \begin{tabular}{|l|} Accounts payable \\ \end{tabular} & & 2.200 \\ \hline Salaries payable & & 0 \\ \hline Unearned extension revenue & & 5,700 \\ \hline Karoo Ashevak, capital & & 223,000 \\ \hline Karoo Ashevak, withdrawals & 89,000 & \\ \hline Tuition revenue & & 182,020 \\ \hline Extension revenue & & 66.500 \\ \hline Depreciation expense, equipment & 0 & \\ \hline Depreciation expense, professional library & 0 & \\ \hline Salaries expense & 200,000 & \\ \hline Insurance expense & 0 & \\ \hline Rent expense & 38,000 & \\ \hline Teaching supplies expense & 0 & \\ \hline Advertusing expense & 13,400 & \\ \hline Utilities expense & 10,600 & \\ \hline & 525.340 & 525.340 \\ \hline \end{tabular}
