GL$0301($Algo$)-$ Based on the... LO P$1,$ P$2,$ P$3,$ P$4,$ P$5,$ P$6$ The unadjusted trial balance of the Finance First 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 Finance First Company. $1)$ The balance in Prepaid insurance represents a $24-$month policy that went into effect on December $1,2021.$ 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 $$5,700.$ Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry, if any. $3)$ The equipment is expected to have a $5-$year useful life, and be worth about $$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 $$13,20060-$day fee in advance, covering December $27$ to February $24.$ Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, if any. $5)$ Finance First's employee earns $$230$ 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, Finance First agreed to provide $30$ days of consulting services to a local fitness club for a fixed fee of $$5,580.$ The terms of the initial agreement call for Finance First to provide services from December $12,2021,$ through January $10,2022,$ or $30$ days of service. The club agrees to pay Finance First $$5,580$ on January $10,2022,$ when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary Journal entry worksheet

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The balance in Prepaid insurance represents a $24-$month policy that went into effect on December $1,2021.$ Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any.

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