The unadjusted trial balance and the adjustment data for Porter Business Institute are given below along with adjusting entry information.What is the impact on net income if these adjustments are not recorded? Show the calculation for net income without the adjustments and net income with the adjustments.Which one gives the most accurate net income? Which accounting principles are being violated if the adjustments are not made? 
Additional information items:
a.The Prepaid Insurance account consists of a payment for a 1 year policy.An analysis of the insurance invoice indicates that one half of the policy has expired by the end of the December 31 year-end.
b.A cash payment for space sublet for 8 months was received on July 1 and was credited to Unearned Rent.
c.Accrued interest expense on the note payable of $1,000 has been incurred but not paid.
Definitions:
Predictor Scores
Scores derived from assessments or tests that are used to forecast or estimate future performance or outcomes.
Job Candidates' Performance
The assessment of how well individuals applying for a position perform in tests or tasks related to the job.
Work Simulation
A method used in job training or assessment that replicates the actual tasks and conditions of a specific job role to provide realistic practice or evaluate skills.
Selection Process Strategies
Approaches and methodologies used by organizations to identify, evaluate, and hire the best candidates for job positions.
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