Question: Please help me fill out the missing blanks for impact on net income and net income after adjustments. Thanks!! GL0302 (Algo) - Based on Problem

Please help me fill out the missing blanks for impact on net income and net income after adjustments. Thanks!!
Please help me fill out the missing blanks for impact on net
income and net income after adjustments. Thanks!! GL0302 (Algo) - Based on

GL0302 (Algo) - Based on Problem 3-3A LO P1, P2, P3, P4, P5 Sanchez Technical Institute (STI), a school owned by Carlos Sanchez, provides training to individuals who pay tuition directly to the school. STI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2022, is found on the trial balance tab. STI initially records prepaid expenses and uneamed revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31 follow. a. An analysis of STI's insurance policies shows that $2,700 of coverage has expired. b. An inventory count shows that teaching supplies costing $3,480 are avalable at year-end. c. Annual depreciation on the equipment is $5,000. d. Annual depreciation on the professional library is $9,400. e. On November 1 , STI agreed to do a special six-month course (starting immediately) for a client. The contract calls for amonthly foe of $2,800, and the client paid the first flve month' fees in advance. When the cash was recelved, the Unearned Thining Fees account was credited. 4. On October 15, STI agreed to teach o four-month class (peginning immediately) for an executive with payment due at the end of the class. At December 31,$3,600 of the tultion has been earned by STL. 9. STI's two employees are paid weekly. As of the end of the yeat, two days' salaries have accrued at the rate of $240 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. (8) Answer is not complete. 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 adjustments con be found on the income statement tab. (Hint: Select unadjusted on the drop-down.) 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 adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.)

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