I need help doing all the sheet, thanks in advance

la > > SI > 010 2013 Merge & Center $ % Conditional Formatting board Font G Alignment Number Xf Lenny's Lawn Service, Inc. - Transactions - Additional Information July 2021 Transactions Date Description of the Transaction July 1 Borrow $35.000.00 from 1st Bank by signing a 24 month note (As an example of how to journalize and post a transaction -- this transaction has already been entered into the General Journal and posted to the General Ledger July 1 Receive $65.700.00 cash from new investors, and issue $65.700.00 of Common Stock to them July 1 Purchase $43.800.00 of new mowing equipment, paying cash to the mower dealer July 1 Pay $500.00 cash for the July truck rental July 3 Invoice a new custome54.725.00 for a completed mowing job - customer will pay in 10 days. July 5. The Board of Directors declares a cash dividend. The total amount of the dividend is $25.000.00 The Date of Record is set as July 15 The Date of Payment is set as July 31 July 7 Pay the employees $5.800.00 for work performed during the 1st week of July Ennn Directions Trans Chart ACCES Journal GL Assets GL Lab Equity GL Rev.Exp Trial Bal 15 & SEquity Ready 9 Tvne here to search o a Arial 10 AA 29 Wrap Text HIU FIT Paste BIU hill Merge & Center $ - % - Conditional Format Formatting Table Styles Clipboard Font Alignment Number C3 X fx July 10 Complete a mowing job for a new customer -- customer pays $4,200.00 cash for the job. July 12 Collect $3,500.00 cash from the golf course for special rush mowing job completed on May 31 July 14 Pay the employees $7,000.00 for work performed during the 2nd week of July July 15 Purchase $1,020.00 of supplies from the mower dealer. The supplies are consumed immediately Lenny's will pay the mower dealer for the supplies in about 2 weeks. July 15 Collect 54.725.00 on account. The cash that is received is from the new customer for the job that was completed on July 3 July 17 One of the original mowers purchased in January of 2020 broke down and is repaired by the mower dealer. The cost of the Mower Repair job is $420,00 Lenny's will pay the mower dealer in 30 days. July 19 Purchase for cash $22,350.00 of supplies. These supplies will be consumed over the next 12 months. July 20 Collect $30,000.00 from the property management company for work performed in June July 21 Pay the employees 57 100 00 for work performed during the 3rd week of July July 23 Receive a $21.500 00 advance payment from the university The advance payment is for 6 months of work which will be performed from August 1 2021 to January 31, 2022 Directions Trans Chart Accs Journal GL Asset GE Lab Equity GL Rev Dp Tral al IS & SEquity Halsht Type here to search 51 a 3 1 Alignment Clipboard Font B2 Lenny's Lawn Service, Inc. - Chart of Accounts Account # Account Name Assets: 100 Cash 105 Accounts Receivable 110 Supplies 150 Equipment 155 Accumulated Depreciation Liabilities: 200 Accounts Payable 205 Wages Payable 210 Interest Payable 215 Unearned Revenue 220 Dividends Payable 250 Note Payable Equity: 300 Common Stock 305 Retained Earnings Revenues: 400 Service Revenue Directions Trans Chart Accts Journal GL Assets GL Liab-Equity GL Rev.Exp Ready Type here to search o a % > 03 Paste Mere Center H IM BTWEA- Number Clipboard Font Alignment B2 > 300 305 400 Equity: Common Stock Retained Earnings Revenues: Service Revenue Expenses: Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense 500 505 510 515 520 550 Directions Trans Chart Accts Journal GL Assets GL Lab Equity GL Rev Exp Trial Bal Type here to search PROTECTED VIEW Be careful-Files from the Internet can contain viruses. Unless you C11 X for Soliert. Car E2121 Lenny's Lawn Service, Inc. - General Journal Part1 2021 Plea Debit Credit 7-1 Real Accesat Men 100 Carl 250 Nato Payable Barracedo Nata Payable 35,000.00 2 35,000.00 + Direction Trans Journal GL Assets GL LIDT Sold Footing 15e Copyright 2020 Lenny's Lawn Service, Inc. - General Ledger Account # 100 Cash CAUTION Enter amounts into the accounts by typing in the amounts Do NOT copy cells from the General Journal into the accounts Journal Page 1 Debit Credit Balance 2021 Month Day 7-1 Beginning Balance 7-1 38,250.00 35,000.00 38,250,00 D 73,250.000 1 Trial Bal GL Revp & SEquity Balsht Post Close TE Lab Equy GL Aasts Journal Direcions Trans Chan Acehs o | a ** Type here to search Sold Footing 15e Copyright 2020 Lenny's Lawn Service, Inc. - General Ledger Account # 100 Cash CAUTION Enter amounts into the accounts by typing in the amounts Do NOT copy cells from the General Journal into the accounts Journal Page 1 Debit Credit 2021 Month Day 7.1 Beginning Balance 7-1 38,250.00 35,000.00 Balance 38,250.000 73,250.00 DE 1 Trial Bal Balsht Post Close TB S & SEquity GL Revp LEY Journal GL Ass Durdons Trans Chart Acids o a i | Type here to search depreciated for the month of July. The following information relates to the new equipment which was purchased on July 1, 2011: The new equipment was placed into service on July 1, 2011 and should be depreciated for the month of July The estimated useful life of the new equipment is 5 years. At the end of 5 years, the new equipment will have no future value and will be scrapped The new equipment will be depreciated using the straight-line method. Supplies: At the end of July there are $15,550.00 supplies on-hand. Mowing Service at the University: The monthly mowing service was provided to the university per the contract signed on April 1, 2011 For information on the contract with the university and the related advance payment, see Pages and 98 in the Solid Footing book Wages Due the Employees: The last wage payment was made to the employees on July 28 2011. The employees worked on July 29, 30, and 31. For these three days of work the employees earned $3,200 00 of wages. These three days of wages will be paid to the workers during the first week of August. Bank Loan: The interest on the loan from 1st Bank will be paid every three months. The first interest payment to the bank will be made on September 30, 2011 Lenny's calls the bank on July 31 and the bank indicates that the interest on the loan for July is $115.00 Trans Chart Acets GL Assets Trial Bal Journal GL Lab Equity GL Rev Exp Cliv IS & SEquity o 13 Type here to search July 25 Complete a special mowing job for the golf course. The total price for the mowing job is $3,900.00 The golf course pays $1,000.00 cash on this date and will pay the remainder on August 25 July 27 Complete a mowing job for a new customer -- customer pays $225.00 cash for the job. July 27 Pay $50.00 cash to the mower dealer for the supplies purchased on account on July 15. July 28 Pay the employees $6,300.00 for work performed during the 4th week of July. July 31 Invoice the property management company $33,000.00 for July mowing work. The property management company will pay the invoice on the 20th of next month. July 31 Pay the cash dividend which was declared on July 5 Additional Information Equipment: The $48.000.00 beginning balance in the Equipment account relates to the mowing equipment which was purchased on January 2, 2010 For information related to this mowing equipment see Page 70 in the Solid Footing book. This equipment continues to be used and should be depreciated for the month of July The following information relates to the new equipment which was purchased on July 1, 2011 Tha Trans Chart Acts Journal GL Assets Gl Lab-Equity GL RevExpDW Trial Bal IS & SEquity H a Type here to search Solid Footit 13e Copyright 2020 Lenny's - July 31, 2021 Post-Closing Trial Balance Account Account Name Debit Credit CAUTION Enter amounts into the Post-Closing Trial Balance by typing in the amounts. Do NOT copy cells from the General Ledger 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Common Stook Retained Earnings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 0.00 0.00 D9 CAUTION Enter amounts into the Balance Sheet by typing in the amounts. Do NOT copy cells from the General Ledger or Pre-Closing Trial Balance Salidatie 12 Copyri2020 Lenny's Lawn Service, Inc. Balance Sheet as of July 31, 2021 Assets Current Assets Cash Accounts Receivable Supplies Total Current Assets 0.00 Property Equipment Equipment Accumulated Depreciation 0.00 Property & Equipment, net Total Assets $0.00 Note the following three new sub-totals appearing on Lenny's Balance Sheet Total Current Assets is a total of those assets which will turn into cash during the next 12 months or be consumed during the next 12 months. The comparison of Total Current Assets to Total Current Liabilities gives some indication of Lenny's liquidity - that is, its ability to pay its bills in the short-term Property & Equipment, net is the amount of Fored Asset cost, which remains to be depreciated in future accounting periods Total Current Liabilities is a total of those babies that will require payment in the next 12 nonths in the case of Unearned Revenue this current liability w be paid off by Lennys delivering mowing services to the university 0.00 Liabilities & Stockholders' Equity Current Liabilities Accounts Payable Vages Payable Interest Payable Unlearned Revenue Total Current Liabilities Long Term Liabilities: Note Payable Total Liabilities Stackholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity ptal Liabilities & Stockholders' Equity 0.00 0.00 $0.00 Salaatin 1 Copyright 2020 Lenny's Lawn Service, Inc. Income Statement for the Month Ended July 31, 2021 CAUTION Enter amounts into the Financial Statements by typing in the amounts Do NOT copy cells from the General Ledger of Pre-Closing Trial Balance Service Revenue Operating Expenses: Supplies Mower Repair Wages Truck Rental Depreciation Total Operating Expenses Income from Operations Interest Expense Net Income Note the new line item on Lenny's Income Statement Income from Operations. This is Lenny's income from the normal operations of the lawn mowing business. Interest Expense, which is not a cost of operating the business but rather a cost of Financing the business. is shown below Income from Operations, Interest Expense is subtracted from Income from Operations to arrive at Net Income 0.00 0.00 $0.00 Lenng's Lawn Service, Inc. Statement of Stockholders' Equity for the Month Ended July 31, 2021 This is the first time you have prepared a formal Statement of Stockholders' Equity for Lenny's. This statement shows what caused the change in Common Stook and in Retained Earnings from July 1, 2021 to July 31, 2021. Note that the Retained Earnings column on the statement looks different than the calculation you have been doing each month to determine the Retained Earnings amount neated for the Balance Sheet. Beginning Balance is the starting ount. In previous Retained Earnings calculations, you used Current Balance as the starting amount. Beginning Balance is the starting point for this oaloulation, because Dividends is shown as a line item (a deduction) in the Retained Earnings column. Common Stock Retained Earnings Beginning Balance July 1, 2021 Issue Common Stock Net Income Dividends Ending Balance July 31, 2021 Total $0.00 0.00 0.00 0.00 $0.00 The Ending Balance in the Retained Earnings column is the balance needed for the Balance Sheet $0.00 30.00 PROTECTED VIEW Be careful-Files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing fx Account # 520 Depreciation Expense Journal Page # Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 0.00 0.00 Dr Account # 550 Interest Expense Journal Page Debit 2021 Month-Day 7-1 Beginning Balance Credit Balance 0.00 Dr 0.00 Deco Chart Acts Journal GLASTOT GL Liby GL Rev Exp Thalal IS & SEquity ECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing Account # 510 Wages Expense Journal Page # Debit Credit 2021 Month-Day 7-1 Beginning Balance Balance 0.00 0.00 Dr Account # 515 Truck Rental Expense Journal Page Debit Credit 2021 Month Day 7-1 Beginning Balance Balance 0.00 0.00 Dr PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editi XR Account # 500 Supplies Expense Journal Page # Debit 2021 Month-Day 7-1 Beginning Balance Credit Balance 0.00 0.00 DO Account # 505 Mower Repair Expense 2021 Month-Day 7-1 Beginning Balance Journal Page Debit Credit Balance 0.00 0.00 DI Lenny's Lawn Service, Inc. Solid Footing 13e Copyright 2020 General Ledger Account # 400 Service Revenue CAUTION Enter amounts into the accounts by typing in the amounts Do NOT copy cells from the General Journal into the accounts Journal Page Debit Credit 2021 Month-Day 7-1 Beginning Balance Balance 0.00 0.00 CE Account # 300 Common Stock 2021 Month-Day 7.1 Beginning Balance Journal Page 3 Debit Credit Balance 50,000.00 50,000.00 CI Account # 305 Retained Earnings Journal Page 3 Debit Credit 2021 Meath- 741 Balance Beginning Bilance 48,125.00 48,125.00 C + Account # 250 Note Payable Journal Page 3 Debit Balance 2021 Month 741 701 Beginning Balance Credit 0.00 35,000.00 0.00 35,000.00 1 Account 300 Common Stock 2021 Most - 7.1 Jostas Page 8 Debit Credit 50,000.00 Balance 50,000.00 Beginning Balance Account 305 Retained Earnings Journal Page 3 Debit 2021 Most 7-1 Credit Balance 48,125.00 Beginning Balance 48. 125.00 O Account 210 Interest Payable Journal Page 1 Debit Credit 2021 Month- 74 Balance Beginning Balance 0.00 0.00C Account # 215 Unearned Revenue Journal Page Debit Credit 2021 Month-D --7-1 Balance Beginning Dance 8,000.00 8,000.00 Account 220 Dividends Payable 2021 Month- Journal Page 3 Debit Balance Credit 0.00 0.00 Beginning Balance Direction Chart Accts Journal GL Assets GL Lab Equity GL Rev EXP Trial Bal Sold Footing 13e Copyright 2020 Lenny's Lawn Service, Inc. - General Ledger Account #200 Accounts Payable CAUTION Enter amounts into the accounts by typing in the amounts Do NOT copy cells from the General Journal into the accounts Journal Page 1 Debit Credit 2021 Month-Day 7-1 Beginning Balance Balance 0.00 0.00 C Account #205 Wages Payable 2021 Journal Page Debit Croft Month-Day 7.1 Beginning Balance Balance 0.00 0.001 GL List Equity OLREAD 15 & SEquity Batsht Trials Car Acci JOU Post Directions Trans a Type here to search Account # 155 Accumulated Depreciation 2021 Month Day 71 Beginning Balance Journal Page Debit Credit Balance 18,000.00 18,000.00 Account # 110 Supplies 2021 Month Day Beginning Balance Journal Page 3 Debit Credit Balance 4,375.00 DI 4,375.00 Account # 150 Equipment 2021 Month Oy 71 Beginning Biance Jouma Page Credit Debit 48,000.00 Halance 48,000.00 DE + Account # 155 Directions Accumulated Depreciation Trans Clan Act Journal GL Artes GL Liaba GL RevExp Trial Bal IS & SEquity Balsh Post Close TE Type here to search O a X Arial 12 - A A ' ' = Wrap Text lo 10 191 BIU - - A- Merge Center $ -% 9 and Font Alignment 5 Number Lenny's Lawn Service, Inc. - Transactions - Additional Information July 2021 Transactions Date Description of the Transaction July 1 Borrow $35,000.00 from 1st Bank by signing a 24 month note (As an example of how to journalize and post a transaction - this transaction has already been entered into the General Journal and posted to the General Ledger.) July 1 Receive $70,500.00 cash from new investors, and issue 570,500.00 of Common Stock to them. July 1 Purchase $48,300.00 of new mowing equipment, paying cash to the mower dealer. July 1 Pay 5500 00 cash for the July truck rental July 3 Invoice a new customer 55.295.00 for a completed mowing job -- Customer will pay in 10 days July 5 The Board of Directors declares a cash dividend. The total amount of the dividend is $25,000.00 The Date of Record is set as July 15. The Date of Payment is set as July 31 July ? Pay the employees 55,800.00 for work performed during the 1st week of July July 10 Complete a mawing job for a new customer- customer pays $4 200.00 cash for the job. July 12 Collect $3.500.00 cash from the golf course for special rush mowing job completed on May 31 July 14 Pay the employees 57 000.00 for work performed during the 2nd week of July Directions Trans Chart Act Journal GL Assets Gl Lab-Equity GL Rev Exp Tral Bal IS X fi Solid Footing 13e Copyright 2020 Lenny's - July 31, 2021 Post-Closing Trial Balance Account Account Name Debit Credit CAUTION Enter amounts into the Post-Closing Trial Balance by typing in the amounts. Do NOT copy cells from the General Ledger 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Common Stook Retained Earnings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 0.00 0.00 15 Lenny's Solid Footing 13e Copyright 2020 July 31, 2021 Pre-Closing Trial Balance Account Account Name Debit Credit CAUTION Enter amounts into the Pre-Closing Trio Balance by typing in the amounts. Do NOT copy cells from the General Ledger. 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Common Stock Retained Earnings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 0.00 0.00 la > > SI > 010 2013 Merge & Center $ % Conditional Formatting board Font G Alignment Number Xf Lenny's Lawn Service, Inc. - Transactions - Additional Information July 2021 Transactions Date Description of the Transaction July 1 Borrow $35.000.00 from 1st Bank by signing a 24 month note (As an example of how to journalize and post a transaction -- this transaction has already been entered into the General Journal and posted to the General Ledger July 1 Receive $65.700.00 cash from new investors, and issue $65.700.00 of Common Stock to them July 1 Purchase $43.800.00 of new mowing equipment, paying cash to the mower dealer July 1 Pay $500.00 cash for the July truck rental July 3 Invoice a new custome54.725.00 for a completed mowing job - customer will pay in 10 days. July 5. The Board of Directors declares a cash dividend. The total amount of the dividend is $25.000.00 The Date of Record is set as July 15 The Date of Payment is set as July 31 July 7 Pay the employees $5.800.00 for work performed during the 1st week of July Ennn Directions Trans Chart ACCES Journal GL Assets GL Lab Equity GL Rev.Exp Trial Bal 15 & SEquity Ready 9 Tvne here to search o a Arial 10 AA 29 Wrap Text HIU FIT Paste BIU hill Merge & Center $ - % - Conditional Format Formatting Table Styles Clipboard Font Alignment Number C3 X fx July 10 Complete a mowing job for a new customer -- customer pays $4,200.00 cash for the job. July 12 Collect $3,500.00 cash from the golf course for special rush mowing job completed on May 31 July 14 Pay the employees $7,000.00 for work performed during the 2nd week of July July 15 Purchase $1,020.00 of supplies from the mower dealer. The supplies are consumed immediately Lenny's will pay the mower dealer for the supplies in about 2 weeks. July 15 Collect 54.725.00 on account. The cash that is received is from the new customer for the job that was completed on July 3 July 17 One of the original mowers purchased in January of 2020 broke down and is repaired by the mower dealer. The cost of the Mower Repair job is $420,00 Lenny's will pay the mower dealer in 30 days. July 19 Purchase for cash $22,350.00 of supplies. These supplies will be consumed over the next 12 months. July 20 Collect $30,000.00 from the property management company for work performed in June July 21 Pay the employees 57 100 00 for work performed during the 3rd week of July July 23 Receive a $21.500 00 advance payment from the university The advance payment is for 6 months of work which will be performed from August 1 2021 to January 31, 2022 Directions Trans Chart Accs Journal GL Asset GE Lab Equity GL Rev Dp Tral al IS & SEquity Halsht Type here to search 51 a 3 1 Alignment Clipboard Font B2 Lenny's Lawn Service, Inc. - Chart of Accounts Account # Account Name Assets: 100 Cash 105 Accounts Receivable 110 Supplies 150 Equipment 155 Accumulated Depreciation Liabilities: 200 Accounts Payable 205 Wages Payable 210 Interest Payable 215 Unearned Revenue 220 Dividends Payable 250 Note Payable Equity: 300 Common Stock 305 Retained Earnings Revenues: 400 Service Revenue Directions Trans Chart Accts Journal GL Assets GL Liab-Equity GL Rev.Exp Ready Type here to search o a % > 03 Paste Mere Center H IM BTWEA- Number Clipboard Font Alignment B2 > 300 305 400 Equity: Common Stock Retained Earnings Revenues: Service Revenue Expenses: Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense 500 505 510 515 520 550 Directions Trans Chart Accts Journal GL Assets GL Lab Equity GL Rev Exp Trial Bal Type here to search PROTECTED VIEW Be careful-Files from the Internet can contain viruses. Unless you C11 X for Soliert. Car E2121 Lenny's Lawn Service, Inc. - General Journal Part1 2021 Plea Debit Credit 7-1 Real Accesat Men 100 Carl 250 Nato Payable Barracedo Nata Payable 35,000.00 2 35,000.00 + Direction Trans Journal GL Assets GL LIDT Sold Footing 15e Copyright 2020 Lenny's Lawn Service, Inc. - General Ledger Account # 100 Cash CAUTION Enter amounts into the accounts by typing in the amounts Do NOT copy cells from the General Journal into the accounts Journal Page 1 Debit Credit Balance 2021 Month Day 7-1 Beginning Balance 7-1 38,250.00 35,000.00 38,250,00 D 73,250.000 1 Trial Bal GL Revp & SEquity Balsht Post Close TE Lab Equy GL Aasts Journal Direcions Trans Chan Acehs o | a ** Type here to search Sold Footing 15e Copyright 2020 Lenny's Lawn Service, Inc. - General Ledger Account # 100 Cash CAUTION Enter amounts into the accounts by typing in the amounts Do NOT copy cells from the General Journal into the accounts Journal Page 1 Debit Credit 2021 Month Day 7.1 Beginning Balance 7-1 38,250.00 35,000.00 Balance 38,250.000 73,250.00 DE 1 Trial Bal Balsht Post Close TB S & SEquity GL Revp LEY Journal GL Ass Durdons Trans Chart Acids o a i | Type here to search depreciated for the month of July. The following information relates to the new equipment which was purchased on July 1, 2011: The new equipment was placed into service on July 1, 2011 and should be depreciated for the month of July The estimated useful life of the new equipment is 5 years. At the end of 5 years, the new equipment will have no future value and will be scrapped The new equipment will be depreciated using the straight-line method. Supplies: At the end of July there are $15,550.00 supplies on-hand. Mowing Service at the University: The monthly mowing service was provided to the university per the contract signed on April 1, 2011 For information on the contract with the university and the related advance payment, see Pages and 98 in the Solid Footing book Wages Due the Employees: The last wage payment was made to the employees on July 28 2011. The employees worked on July 29, 30, and 31. For these three days of work the employees earned $3,200 00 of wages. These three days of wages will be paid to the workers during the first week of August. Bank Loan: The interest on the loan from 1st Bank will be paid every three months. The first interest payment to the bank will be made on September 30, 2011 Lenny's calls the bank on July 31 and the bank indicates that the interest on the loan for July is $115.00 Trans Chart Acets GL Assets Trial Bal Journal GL Lab Equity GL Rev Exp Cliv IS & SEquity o 13 Type here to search July 25 Complete a special mowing job for the golf course. The total price for the mowing job is $3,900.00 The golf course pays $1,000.00 cash on this date and will pay the remainder on August 25 July 27 Complete a mowing job for a new customer -- customer pays $225.00 cash for the job. July 27 Pay $50.00 cash to the mower dealer for the supplies purchased on account on July 15. July 28 Pay the employees $6,300.00 for work performed during the 4th week of July. July 31 Invoice the property management company $33,000.00 for July mowing work. The property management company will pay the invoice on the 20th of next month. July 31 Pay the cash dividend which was declared on July 5 Additional Information Equipment: The $48.000.00 beginning balance in the Equipment account relates to the mowing equipment which was purchased on January 2, 2010 For information related to this mowing equipment see Page 70 in the Solid Footing book. This equipment continues to be used and should be depreciated for the month of July The following information relates to the new equipment which was purchased on July 1, 2011 Tha Trans Chart Acts Journal GL Assets Gl Lab-Equity GL RevExpDW Trial Bal IS & SEquity H a Type here to search Solid Footit 13e Copyright 2020 Lenny's - July 31, 2021 Post-Closing Trial Balance Account Account Name Debit Credit CAUTION Enter amounts into the Post-Closing Trial Balance by typing in the amounts. Do NOT copy cells from the General Ledger 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Common Stook Retained Earnings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 0.00 0.00 D9 CAUTION Enter amounts into the Balance Sheet by typing in the amounts. Do NOT copy cells from the General Ledger or Pre-Closing Trial Balance Salidatie 12 Copyri2020 Lenny's Lawn Service, Inc. Balance Sheet as of July 31, 2021 Assets Current Assets Cash Accounts Receivable Supplies Total Current Assets 0.00 Property Equipment Equipment Accumulated Depreciation 0.00 Property & Equipment, net Total Assets $0.00 Note the following three new sub-totals appearing on Lenny's Balance Sheet Total Current Assets is a total of those assets which will turn into cash during the next 12 months or be consumed during the next 12 months. The comparison of Total Current Assets to Total Current Liabilities gives some indication of Lenny's liquidity - that is, its ability to pay its bills in the short-term Property & Equipment, net is the amount of Fored Asset cost, which remains to be depreciated in future accounting periods Total Current Liabilities is a total of those babies that will require payment in the next 12 nonths in the case of Unearned Revenue this current liability w be paid off by Lennys delivering mowing services to the university 0.00 Liabilities & Stockholders' Equity Current Liabilities Accounts Payable Vages Payable Interest Payable Unlearned Revenue Total Current Liabilities Long Term Liabilities: Note Payable Total Liabilities Stackholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity ptal Liabilities & Stockholders' Equity 0.00 0.00 $0.00 Salaatin 1 Copyright 2020 Lenny's Lawn Service, Inc. Income Statement for the Month Ended July 31, 2021 CAUTION Enter amounts into the Financial Statements by typing in the amounts Do NOT copy cells from the General Ledger of Pre-Closing Trial Balance Service Revenue Operating Expenses: Supplies Mower Repair Wages Truck Rental Depreciation Total Operating Expenses Income from Operations Interest Expense Net Income Note the new line item on Lenny's Income Statement Income from Operations. This is Lenny's income from the normal operations of the lawn mowing business. Interest Expense, which is not a cost of operating the business but rather a cost of Financing the business. is shown below Income from Operations, Interest Expense is subtracted from Income from Operations to arrive at Net Income 0.00 0.00 $0.00 Lenng's Lawn Service, Inc. Statement of Stockholders' Equity for the Month Ended July 31, 2021 This is the first time you have prepared a formal Statement of Stockholders' Equity for Lenny's. This statement shows what caused the change in Common Stook and in Retained Earnings from July 1, 2021 to July 31, 2021. Note that the Retained Earnings column on the statement looks different than the calculation you have been doing each month to determine the Retained Earnings amount neated for the Balance Sheet. Beginning Balance is the starting ount. In previous Retained Earnings calculations, you used Current Balance as the starting amount. Beginning Balance is the starting point for this oaloulation, because Dividends is shown as a line item (a deduction) in the Retained Earnings column. Common Stock Retained Earnings Beginning Balance July 1, 2021 Issue Common Stock Net Income Dividends Ending Balance July 31, 2021 Total $0.00 0.00 0.00 0.00 $0.00 The Ending Balance in the Retained Earnings column is the balance needed for the Balance Sheet $0.00 30.00 PROTECTED VIEW Be careful-Files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing fx Account # 520 Depreciation Expense Journal Page # Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 0.00 0.00 Dr Account # 550 Interest Expense Journal Page Debit 2021 Month-Day 7-1 Beginning Balance Credit Balance 0.00 Dr 0.00 Deco Chart Acts Journal GLASTOT GL Liby GL Rev Exp Thalal IS & SEquity ECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing Account # 510 Wages Expense Journal Page # Debit Credit 2021 Month-Day 7-1 Beginning Balance Balance 0.00 0.00 Dr Account # 515 Truck Rental Expense Journal Page Debit Credit 2021 Month Day 7-1 Beginning Balance Balance 0.00 0.00 Dr PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editi XR Account # 500 Supplies Expense Journal Page # Debit 2021 Month-Day 7-1 Beginning Balance Credit Balance 0.00 0.00 DO Account # 505 Mower Repair Expense 2021 Month-Day 7-1 Beginning Balance Journal Page Debit Credit Balance 0.00 0.00 DI Lenny's Lawn Service, Inc. Solid Footing 13e Copyright 2020 General Ledger Account # 400 Service Revenue CAUTION Enter amounts into the accounts by typing in the amounts Do NOT copy cells from the General Journal into the accounts Journal Page Debit Credit 2021 Month-Day 7-1 Beginning Balance Balance 0.00 0.00 CE Account # 300 Common Stock 2021 Month-Day 7.1 Beginning Balance Journal Page 3 Debit Credit Balance 50,000.00 50,000.00 CI Account # 305 Retained Earnings Journal Page 3 Debit Credit 2021 Meath- 741 Balance Beginning Bilance 48,125.00 48,125.00 C + Account # 250 Note Payable Journal Page 3 Debit Balance 2021 Month 741 701 Beginning Balance Credit 0.00 35,000.00 0.00 35,000.00 1 Account 300 Common Stock 2021 Most - 7.1 Jostas Page 8 Debit Credit 50,000.00 Balance 50,000.00 Beginning Balance Account 305 Retained Earnings Journal Page 3 Debit 2021 Most 7-1 Credit Balance 48,125.00 Beginning Balance 48. 125.00 O Account 210 Interest Payable Journal Page 1 Debit Credit 2021 Month- 74 Balance Beginning Balance 0.00 0.00C Account # 215 Unearned Revenue Journal Page Debit Credit 2021 Month-D --7-1 Balance Beginning Dance 8,000.00 8,000.00 Account 220 Dividends Payable 2021 Month- Journal Page 3 Debit Balance Credit 0.00 0.00 Beginning Balance Direction Chart Accts Journal GL Assets GL Lab Equity GL Rev EXP Trial Bal Sold Footing 13e Copyright 2020 Lenny's Lawn Service, Inc. - General Ledger Account #200 Accounts Payable CAUTION Enter amounts into the accounts by typing in the amounts Do NOT copy cells from the General Journal into the accounts Journal Page 1 Debit Credit 2021 Month-Day 7-1 Beginning Balance Balance 0.00 0.00 C Account #205 Wages Payable 2021 Journal Page Debit Croft Month-Day 7.1 Beginning Balance Balance 0.00 0.001 GL List Equity OLREAD 15 & SEquity Batsht Trials Car Acci JOU Post Directions Trans a Type here to search Account # 155 Accumulated Depreciation 2021 Month Day 71 Beginning Balance Journal Page Debit Credit Balance 18,000.00 18,000.00 Account # 110 Supplies 2021 Month Day Beginning Balance Journal Page 3 Debit Credit Balance 4,375.00 DI 4,375.00 Account # 150 Equipment 2021 Month Oy 71 Beginning Biance Jouma Page Credit Debit 48,000.00 Halance 48,000.00 DE + Account # 155 Directions Accumulated Depreciation Trans Clan Act Journal GL Artes GL Liaba GL RevExp Trial Bal IS & SEquity Balsh Post Close TE Type here to search O a X Arial 12 - A A ' ' = Wrap Text lo 10 191 BIU - - A- Merge Center $ -% 9 and Font Alignment 5 Number Lenny's Lawn Service, Inc. - Transactions - Additional Information July 2021 Transactions Date Description of the Transaction July 1 Borrow $35,000.00 from 1st Bank by signing a 24 month note (As an example of how to journalize and post a transaction - this transaction has already been entered into the General Journal and posted to the General Ledger.) July 1 Receive $70,500.00 cash from new investors, and issue 570,500.00 of Common Stock to them. July 1 Purchase $48,300.00 of new mowing equipment, paying cash to the mower dealer. July 1 Pay 5500 00 cash for the July truck rental July 3 Invoice a new customer 55.295.00 for a completed mowing job -- Customer will pay in 10 days July 5 The Board of Directors declares a cash dividend. The total amount of the dividend is $25,000.00 The Date of Record is set as July 15. The Date of Payment is set as July 31 July ? Pay the employees 55,800.00 for work performed during the 1st week of July July 10 Complete a mawing job for a new customer- customer pays $4 200.00 cash for the job. July 12 Collect $3.500.00 cash from the golf course for special rush mowing job completed on May 31 July 14 Pay the employees 57 000.00 for work performed during the 2nd week of July Directions Trans Chart Act Journal GL Assets Gl Lab-Equity GL Rev Exp Tral Bal IS X fi Solid Footing 13e Copyright 2020 Lenny's - July 31, 2021 Post-Closing Trial Balance Account Account Name Debit Credit CAUTION Enter amounts into the Post-Closing Trial Balance by typing in the amounts. Do NOT copy cells from the General Ledger 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Common Stook Retained Earnings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 0.00 0.00 15 Lenny's Solid Footing 13e Copyright 2020 July 31, 2021 Pre-Closing Trial Balance Account Account Name Debit Credit CAUTION Enter amounts into the Pre-Closing Trio Balance by typing in the amounts. Do NOT copy cells from the General Ledger. 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Common Stock Retained Earnings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 0.00 0.00