Answer all the questions please

1.Name two types of adjusting journal entries that are commonly made before preparing financial statements? Explain, with examples. 2. Are there any accounts that would never have an adjusting entry? Explain. 3. If the Supplies account had an ending balance of $1.200 and the actual count for the remaining supplies was $400 at the end of the period, what adjustment would be needed? Explain 4. The account called Income Summary is often used in the closing entries. Explain this account's purpose and how it is used. 5. After the first two closing entries are made. Income Summary has a debit balance of $22,750. What does this indicate about the company's net income or loss? Pass the necessary closing entry for this and explain