Having problem in solving this two accounting problems.Please see documents attached.Thanks

ACCOUNT PROBLEM QUESTION 1) The Solo Hotel opened for business on May 1, 2014. Here is its trial balance before adjustment on May 31. SOLO HOTEL Trial Balance May 31, 2014 Debit Cash Credit $ 2,779 Supplies 2,600 Prepaid Insurance 1,800 Land 15,279 Buildings 71,200 Equipment 16,800 Accounts Payable $ 4,979 Unearned Rent Revenue 3,300 Mortgage Payable 37,200 Common Stock 60,279 Rent Revenue Salaries and Wages Expense 9,000 3,000 Utilities Expense 800 Advertising Expense 500 $114,758 $114,758 Other data: 1. Insurance expires at the rate of $300 per month. 2. A count of supplies shows $1,174 of unused supplies on May 31. 3. (a) Annual depreciation is $3,720 on the building. (b) Annual depreciation is $3,600 on equipment. 4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,690 has been earned. 6. Salaries of $650 are accrued and unpaid at May 31. Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. 2. 3 (a). 3 (b). 4. 5. 6. SHOW LIST OF ACCOUNTS Debit Credit LINK TO TEXT Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries presented in the previous question.) Cash Prepaid Insurance Supplies Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Insurance Expense Supplies Expense Depreciation Expense SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare an adjusted trial balance on May 31. SOLO HOTEL Adjusted Trial Balance May 31, 2014 Debit Credit $ $ $ $ SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare an income statement for the month of May. SOLO HOTEL Income Statement For the Month Ended May 31, 2014 $ $ $ SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare a retained earnings statement for the month of May. SOLO HOTEL Retained Earnings Statement For the Month Ended May 31, 2014 $ : $ SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare a classified balance sheet at May 31. (List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment .) SOLO HOTEL Balance Sheet May 31, 2014 Assets $ $ $ : : $ Liabilities and Stockholders' Equity $ $ $ QUESTION 3) Ken Lumas started his own consulting firm, Lumas Consulting, on June 1, 2014. The trial balance at June 30 is as follows. LUMAS CONSULTING Trial Balance June 30, 2014 Debit Cash Credit $ 6,850 Accounts Receivable 7,000 Supplies 2,059 Prepaid Insurance 3,480 Equipment 15,000 Accounts Payable $ 4,280 Unearned Service Revenue 5,200 Common Stock 22,149 Service Revenue 8,000 Salaries and Wages Expense 4,000 Rent Expense 1,240 $39,629 $39,629 In addition to those accounts listed on the trial balance, the chart of accounts for Lumas also contains the following accounts: Accumulated DepreciationEquipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. 2. 3. 4. 5. Supplies on hand at June 30 total $720. A utility bill for $235 has not been recorded and will not be paid until next month. The insurance policy is for a year. Services were performed for $4,114 of unearned service revenue by the end of the month. Salaries of $1,439 are accrued at June 30. The equipment has a 5-year life with no salvage value and is being depreciated at $250 per 6. month for 60 months. Invoices representing $4,252 of services performed during the month have not been recorded 7. as of June 30. Prepare the adjusting entries for the month of June. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No Account Titles and . Explanation 1. 2. Debit Credit 3. 4. 5. 6. 7. SHOW LIST OF ACCOUNTS LINK TO TEXT Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Use T-Accounts.) (Post entries in the order of journal entries presented in the previous question.) Cash Accounts Receivable Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Service Revenue Prepaid Insurance Supplies Salaries and Wages Expense Rent Expense Depreciation Expense Insurance Expense Utilities Expense Supplies Expense SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare an adjusted trial balance at June 30, 2014. LUMAS CONSULTING Adjusted Trial Balance June 30, 2014 Debit Credit $ $ $ $