Please help in Solving part d1. Please make sure to follow the same format.

part b (already solved)

part c (already solved)

part d1 (already solved)

part d2 (need help in solving, please follow the given format as it is)

The following is the unadjusted trial balance for Pharoah Lodge Ltd. at its year end, May 31, 2024. The company adjusts its accounts monthly. \begin{tabular}{|c|c|c|} \hline Common shares & & 60,000 \\ \hline Retained earnings & & 45,720 \\ \hline Dividends declared & 1,830 & \\ \hline Rent income & & 208,494 \\ \hline Salaries expense & 102,550 & \\ \hline Utilities expense & 25,800 & \\ \hline Depreciation expense & 14,550 & \\ \hline Interest expense & 9,120 & \\ \hline Insurance expense & 6,440 & \\ \hline Advertising expense & 930 & \\ \hline \multirow[t]{2}{*}{ Income tax expense } & 6,700 & \\ \hline & $515,894 & $515,894 \\ \hline \end{tabular} 1. An annual insurance policy was purchased for the first time on October 1,2023 , for $11,040 cash. 2. A count of supplies shows $1,310 of supplies on hand on May 31 . 3. The buildings have an estimated useful life of 20 years and straight-line depreciation is applied. 4. The furniture has an estimated useful life of five years and straight-line depreciation is applied. 5. Customers must pay a $100 deposit if they want to book a room in advance during the peak period. An analysis of these bookings indicates that 180 deposits were received and credited to Deferred Revenue. By May 31, 25 of the deposits were earned. 6. On May 25, a local business contracted with Pharoah Lodge to rent one of its housekeeping units for four months, starting June 1, at a rate of $2,682 per month. An advance payment equal to one month's rent was paid on May 25 and credited to Rent Income. 7. On May 31, Pharoah Lodge has earned $1,645 of rent income from customers who are currently staying at the lodge. The customers will pay the amount owing only when they check out in early June. 8. Salaries of $1,650 are unpaid at May 31 . 9. Interest on the mortgage payable is $770 for the month of May and due June 1. 10. The May utility bill of $2,157 has not yet been recorded or paid. 11. Additional income tax is estimated to be $1,020. Prepare adjusting journal entries for the month. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round all amounts to the nearest dollar. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 4. 31 Depreciation Expense 610 Accumulated Depreciation - Furniture 610 5. 31 Deferred Revenue 2500 Rent Income 2500 6. 31 Rent Expense 2682 Rent Payable 7. 31 Accounts Receivable Rent Income 8. 31 Salaries Expense Salaries Payable 9. 31 Interest Expense Interest Payable 10. 31 Utilities Expense Rent Payable 11. 31 Income Tax Expense Income Tax Payable 610 2500 2682 \begin{tabular}{r} 2682 \\ \hline \\ \hline \end{tabular} 1645 1650 \begin{tabular}{|r|} \hline \\ \hline 1650 \\ \hline \end{tabular} 770 2157 \begin{tabular}{|r|} \hline \\ \hline \\ 2157 \\ \hline \end{tabular} \begin{tabular}{r} \hline 770 \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{r} 1020 \\ \hline \\ \hline \end{tabular} 1020 Set un T arrounts enter anv nnening halanres and nost the adiusting inurnal entries nrenared in the ahnve part. (Post entries in the \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Land } \\ \hline May 31 Bal. & 100120 & & \\ \hline \multicolumn{4}{|c|}{ Buildings } \\ \hline May 31 Bal. & 183600 & & \\ \hline \multicolumn{4}{|c|}{ Accumulated Depreciation - Buildings } \\ \hline & & May 31 Bal. & 22700 \\ \hline & & May 31 Adj. & 765 \\ \hline & & May 31 Bal. & 23465 \\ \hline \multicolumn{4}{|c|}{ Furniture } \\ \hline May 31 Bal. & 36600 & & \\ \hline \multicolumn{4}{|c|}{ Accumulated Depreciation - Furniture } \\ \hline & & May 31 Bal. & 20100 \\ \hline & & May 31Adj. & 610 \\ \hline & & May 31 Bal. & 20710 \\ \hline \end{tabular} Accounts Payable Salaries Payable Interest Payable Income Tax Payable \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Deferred Revenue } \\ \hline May 31 Adj. & 2500 & May 31 Bal. & 18000 \\ \hline & & May 31 Adj. & 2682 \\ \hline & & May 31 Bal. & 18182 \\ \hline \end{tabular} Mortgage Payable May 31 Bal. 132000 Common Shares May 31 Bal. 60000 Retained Earnings May 31 Bal. 45720 \begin{tabular}{|c|c|c|c|} \hline & & May 31 Bal. & 45720 \\ \hline \multicolumn{4}{|c|}{ Dividends Declared } \\ \hline May 31 Bal. & 1830 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Rent Income } \\ \hline May 31 Adj. & 2682 & May 31 Bal. & 208494 \\ \hline & & May 31Adj. & 2500 \\ \hline & & May 31 Adj. & 1645 \\ \hline & & May 31 Bal. & 209957 \\ \hline \multicolumn{4}{|c|}{ Salaries Expense } \\ \hline May 31 Bal. & 102550 & & \\ \hline May 31 Adj. & 1650 & & \\ \hline May 31 Bal. & 104200 & & \\ \hline \end{tabular} (c) Your answer is correct. Prepare an adjusted trial balance at May 31. PHAROAHLODGE LTD. Adjusted Trial Balance Interest Payable Income Tax Payable Deferred Revenue Mortgage Payable Common Shares Retained Earnings Dividends Declared Rent Income Salaries Expense Utilities Expense Interest Expense Insurance Expense Advertising Expense Supplies Expense Depreciation Expense Income Tax Expense Totals (d1) Your answer is correct. Prepare a statement of income for the year. PHAROAH LODGE LTD. Statement of Income For the Year Ended May 31, 2024 Revenues Rent Income $209957 Expenses Salaries Expense $104200i Utilities Expense \begin{tabular}{|r|r|} \hline 27957 & i \\ \hline \end{tabular} Interest Expense \begin{tabular}{|r|r|} \hline 9890 & 1 \\ \hline \end{tabular} Insurance Expense \begin{tabular}{|r|r|} \hline 7360 & i \\ \hline \end{tabular} Advertising Expense \begin{tabular}{rr|r|} \hline 930 & i \\ \hline \end{tabular} Supplies Expense \begin{tabular}{|r|r|} \hline 4020 & i \\ \hline \end{tabular} Depreciation Expense \begin{tabular}{|r|r|} \hline 15925 & i \\ \hline \end{tabular} Total Expenses 170282 Income Before Income Tax 39675 Prepare a statement of changes in equity for the year. Note that $3,770 of common shares were issued during the month of May. (Do not leave any answer field blank. Enter 0 for amounts.) \begin{tabular}{|c|c|c|c|c|c|c|} \hline & \multirow[b]{2}{*}{$} & Common Shares & \multirow[b]{2}{*}{$} & Retained Earnings & \multirow[b]{2}{*}{$} & Total Equity \\ \hline & & & & & & \\ \hline \begin{tabular}{l} Balance, June 1, 2023 \\ Balance, May 31, 2024 \end{tabular} & & & & & & \\ \hline Dividends Declared & & & & & & \\ \hline \begin{tabular}{l} Issued Common Shares \\ Net Income \end{tabular} & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular}