I'm having trouble with two problems. I have to have them turned in, in an hour.

1) Following are selected accounts and their balances for a company after all adjustments as of Dec 31, the end of its fiscal year. All accounts have normal balances.

M. Mandel, Capital	$11,400
M. Mandel, Withdrawals	$4,000
Fees Earned	$25,000
Salaries Expense	$10,000
Insurance Expense	$1,500
Prepaid Insurance	$2,400
Accounts Payable	$1,250
Equipment	$18,000
Depreciation Expense	$1,800

Prepare all necessary closing entries for this company.

2)Following are selected accounts and their balances for a company after the adjustments as of July 31, the end of its fiscal year. All accounts have normal balances.

K. Taylor, Capital	$13,000
K. Taylor, Withdrawals	$5,000
Fees Earned	$25,000
Salaries Expense	$6,500
Utilities Expense	$250
Rent Expense	$500
Accounts Payable	$1,500
Supplies	$300
Depreciation Expense	$2,000

Prepare all necessary closing entries for this company.

Prepare all necessary closing entries for this company.