Required: 1. Prepare the necessary annual adjusting journal entries at December 31, 2023, based on (a) to (h) above. Journal entry worksheet 5678 Record the cost of supplies used during the year. Note: Enter debits before credits. Required: 1. Prepare the necessary annual adjusting journal entries at December 31, 2023, based on (a) to (h) above. Journal entry worksheet Record the cost of insurance expired during the year. Note: Enter debits before credits. Required: 1. Prepare the necessary annual adjusting journal entries at December 31,2023 , based on (a) to (h) above. Note: Enter debits before credits. Analysis Component: 2. Complete the adjusted trial balance using the information in (a) through (h) above. Required: 1. Prepare the necessary annual adjusting journal entries at December 31,2023 , based on (a) to (h) above. Journal entry worksheet 1234578 Record the amount of tuition revenue earned. Note: Enter debits before credits. Required: 1. Prepare the necessary annual adjusting journal entries at December 31, 2023, based on (a) to (h) above. Journal entry worksheet Record the equipment depreciation expense. Note: Enter debits before credits. Required: 1. Prepare the necessary annual adjusting journal entries at December 31, 2023, based on (a) to (h) above. Journal entry worksheet Record the professional library depreciation expense. Note: Enter debits before credits. Required: 1. Prepare the necessary annual adjusting journal entries at December 31,2023 , based on (a) to (h) above. Journal entry worksheet Note: Enter debits before credits. Required: 1. Prepare the necessary annual adjusting journal entries at December 31,2023 , based on (a) to (h) above. 3. If the adjustments were not recorded, calculate the over- or understatement of income. 4. Is it ethical to ignore adjusting entries? Yes No Required: 1. Prepare the necessary annual adjusting journal entries at December 31,2023 , based on (a) to (h) above. Journal entry worksheet 8 Record the entry to adjust the unearned extension revenue account. Note: Enter debits before credits. PacRim Careers provides training to individuals who pay tultion directly to the business. The business also offers extension training to groups in off-site locations. Additional information avallable at the December 31, 2023, year-end follows: a. An analysis of the company's policies shows that $1,310 of insurance coverage has expired. b. An inventory shows that teaching supplies costing $510 are on hand at the end of the year. c. The estimated annual depreciation on the equipment is $8,750 d. The estimated annual depreciation on the professional library is $4,770. 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 $890, and the cllent paid the first five month's' revenue in advance. When the cash was recelved, the Unearned Extension Revenue account was credited. f. On October 15 , the school agreed to teach a four-month class for an individual for $1,260 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 $120 per day for each employee. h. The balance in the Prepaid Rent account represents the rent for three months: December, January, and February
