please solve both of them asap. Thank you for the trouble

Prepare an income statement and balance sheet from the adjusted trial balance below: Credit (TK) 250 125 Super Motel Adjusted Trial Balance January 1, 2020 Accounts Debit (TK) Cash 5500 Supplies 750 Prepaid Insurance 2200 Land 12000 Buildings 60000 Accumulated Depreciation - Buildings Equipment 15000 Accumulated Depreciation Equipment Accounts Payable Unearned Rent Revenue Salaries Payable Interest Payable Mortgage Payable Owner's Capital Rent Revenue Advertising Expense 600 Depreciation Expense - Buildings 250 Depreciation Expense - Equipment 125 Supplies Expense 1330 Interest Expense 400 Insurance Expense 200 Salaries and Wages Expense 4050 Utilities Expense 900 4800 1100 750 400 40000 41380 14500 Totals 103,305 103,305 Question No. 3 | 3 +2 = 5 marks) 1. The following transactions involved the receipt of advance payments of Caritas Publishing. Prepare the indicated journal entries for each set of transaction [The financial year starts on 1" of September,2019). a) On September 1, 2019, the company received 48,000 taka payment from an advertising client for a 6-month advertising campaign. The campaign will run from November, 2019, through the end of April, 2020. Prepare the journal entry on September 1, 2019 to record the receipt and adjusting entry on December 31, 2019. b) During January 6, 2020, 30,60,000 Taka was received to provide future magazine subscriptions. The subscription started will start from March. Prepare journal entries to reflect the receipt of payment and sales of subscription to reflect magazines delivered 2. Why are adjusting entries made each time before preparing financial statements