The unadjusted trial balance and the adjustment data for Porter Business Institute, Inc. are shown below along with adjusting entry information. What is the impact of the adjusting entries on the balance sheet? Show the calculation for total assets, total liabilities, and stockholders' equity without the adjustments; show the calculation for total assets, total liabilities, and stockholders' equity with the adjustments. Which one provides the most accurate presentation of the balance sheet? 
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:
Marketing Mix
The Marketing Mix is a framework that consists of the 4Ps: Product, Price, Place, and Promotion, used by businesses to market their products effectively.
Social Network
A web-based meeting place for friends, family, co-workers, and peers that lets users create a profile and connect with other users for a wide range of purposes.
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