I am having some trouble with some accounting questions again. Any help and I would be so grateful! Thank you!

Exercise 7.9 A and B only (page 206): For each of the following situations, prepare the adjusting entry for the month ended October 31 and indicate the effect each adjustment would have on net income:

A. Wingenbach Plumbing had a $35,000 contract with a construction company to perform plumbing services for a home under construction. Payment was to be received at the end of the job. As of October 31, $8,000 worth of services had been performed.

B. Hutchison State Bank made a $10,000 loan to a customer on October 1. The terms called for principal and interest of 8 percent to be paid at the end of one year. Hutchison State Bank prepares monthly financial statements.

Exercise 7.10 A and B only (page 206): For each of the following situations, prepare the adjusting entry for the month ended February 28 and indicate the effect each adjustment would have on net income:

A. On February 1, Doan Company received a $6,000 retainer from a client. By the end of February, Doan had earned $4,500 of the retainer.

B. During January, $24,000 in magazine subscriptions was received by MG Corp. The subscriptions were for 12 monthly issues of Summer sport, beginning with the month of February. MG Corp. prepares monthly financial statements.

Excerise 7.11 A and B only (page 206): For each of the following situations, prepare the adjusting entry for the month ended May 31 and indicate the effect each adjustment would have on net income:

A. The May telephone bill for Scheele Company arrived in the accounting department on June 8. The invoice totaled $210.

B. Bailey, Inc. had an arrangement with a local newspaper to run a full-page advertisement every Sunday. The cost of each ad was $350. The newspaper sends Bailey a bill on the 15^th of the next month. There were four Sundays in the month of May.

Exercise 7.12 B and C only (page 206): For each of the following situations, prepare the adjusting entry for the month ended July 31 and indicate the effect each adjustment would have on net income: B. On July 1, Rottman Company had a $390 balance in its supplies account. During July, $1,450 of additional supplies were purchased. An inventory at July 31 showed $275 of supplies still on the shelves.

C. Last year, Apple Enterprises purchased some equipment at a total cost of $75,000. The estimated useful life of the equipment is 5 years. Apple prepares semiannual financial statements.

Exercise 7.18 (pages 207-208): The adjusted trial balance of Murphy%u2019s Taxi Service, Inc., follows. Determine the net income or loss for the month of May and the balance in the Retained Earnings account that would appear on the balance sheet.

Murphy's Taxi Service, Inc.
Adjusted Trial Balance
May 31, 2010
	Debits	Credits
Cash	$ 1,920
Prepaid Insurance	$ 690
Automobiles	$29,500
A/D %u2013 Automobiles		$12,800
Capital Stock		$15,000
Retained Earnings		$ 3,720
Passenger fee revenue		$ 4,250
Salary expense	$ 2,400
Fuel expense	$ 485
Depreciation expense	$ 615
Repairs and maintenance expense	$ 160
Totals	$35,770	$35,770

Problem 7.1 1 and 7 only (pages 208-209): Biando Corporation began operations on May 1, 2010 and completed the following transactions during its first month of operations. A. Sold capital stock for $30,000. B. Purchased land and building valued at $35,000 and $165,000, respectively, by paying $10,000 cash and signing a 20-year mortgage for the balance. C. Purchased office equipment on account, $7,500. D. Billed a customer for services performed, $5,000. E. Received an $800 deposit from a customer for services to be performed next month. F. Made a partial payment on account for the office equipment purchased in transaction (C), $1,500. G. Performed a service and immediately collected $2,000. H. Received and immediately paid the telephone bill for the month, $380. I. Paid a dividend to owners, $3,000. J. Received, but did not pay, the monthly utility bill, $450.

1. Prepare the general journal entries to record each of these events.

7. Prepare the closing entries.