GL0403 (Algo) - Based on Problem 4-2A LO C1, P1, P2

The unadjusted trial balance for Lee Construction Company at its June 30 current fiscal year-end, is found on the trial balance tab. The credit balance of the E. Lee, Capital account was $13,000 on June 30 of the prior year, and the owner invested $45,000 cash during the current fiscal year. Information for adjustments is as follows: Supplies available at the end of the current fiscal year total $3,500. Cost of expired insurance for the current fiscal year is $2,600. Annual depreciation on equipment is $27,600. June utilities expense of $550 is not included in the unadjusted trial balance because the bill arrived after the trial balance

General Journal tab - Prepare any necessary adjusting and closing entries for the current fiscal year.

General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-closing balances.

Trial Balance tab - You may view the unadjusted, adjusted, or post-closing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs.

Income Statement tab - Use the drop-downs to select the accounts properly included on the income statement. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection.

Statement of Owner's Equity tab - The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection.

Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection.

Post-Closing tab - Use the drop-downs to indicate whether each account is included on the post-closing trial balance.