lennys lawn care trialbalances

E6 security updates, fixes, and improvements, choose Check for Updates x x Lenny's - July 31, 2021 Pre-Closing Trial Balance Account Name Debit Credit Account 100 105 110 150 155 200 CAUTION Enter amounts into the Pre-Closing Trial Balance by typing in the amounts Do NOT copy cells from the General Ledger 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 Uneamed 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 Directions Trans Chart Acets A Journal GL Assets GOL Lab Equity AGL Rav-Exp Tala IS A SEU Ready D6 x fx 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 Expense Mower Repair Expense Wages Expense Truck Rental Expense Doprociation Expense Total Operating Expenses Income from Operations Interest Expense Net Income (Loss) 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 Lenny'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 Stock and in Retained Eamings 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 Earrings amount needed for the Balance Sheet. Beginning Balance is the starting amount. In previous Retaineesamings calculations, you used Current Balance as the starting amount. Beginning Balance is the starting point for this calculation, because Dividends is shown as a line item (a deduction) in the Retained Eamings column. The Ending Balance in the Retained Eamings column is the balance needed for the Balance Sheet Common Stock Retained Eamings Beginning Balance July 1, 2021 Issue Common Stock Net Income (Loss) Dividends Ending Balance July 31, 2021 Total $0.00 0.00 0.00 0.00 $0.00 $0.00 $0.00 Directions A Trans Chart Accts Journal AGL Assets GL Lab-Equity GL Rov-Exp Tria Bal AS & SE Ready Lenny's Lawn Service, Inc. Balance Sheet as of July 31, 2021 Enter amounts into the Balance Sheet by typing in the amounts. Do NOT copy cels from the General Ledger or Pre-Closing Trial Balance Assets Current Assets: Cash Accounts Receivable Supplies Total Current Assets Property & Equipment Equipment Accumulated Depreciation Property & Equipment, net Total Assets 0.00 0.00 $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 Fixed Asset cost, which remains to be deprecated in future accounting periods Total Current Liabilities is a total of those Habilities that will require payment in the next 12 months. In the case of Uncarned Revenue, this current liability will be paid-off" by Lenny's delivering mowing services to the university 0.00 Liabilities & Stockholders' Equity Current Liabilities: Accounts Payable Wagos Payable Interest Payable Uneamed Revenue Total Current Liabilities Long-Term Liabilities: Note Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 0.00 0.00 $0.00 Directions Trans Chart Accts Journal GL Assets AGL Liab-Equity AGL Rev-Exp Trial Bal IS & SE Ready Lenny's July 31, 2021 Pre-Closing Trial Balance Account Debit Credit CAUTION Enter amounts into the Pre-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 Account Name Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wagas Payable Interest Payable Uneamed 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 400 500 505 510 515 520 550 0.00 0.00 Directions Trans A Chart Accts A Journal GL Assets GL Liab-Equity GL Rev Exp That Bal IS & SEQUI Ready E6 security updates, fixes, and improvements, choose Check for Updates x x Lenny's - July 31, 2021 Pre-Closing Trial Balance Account Name Debit Credit Account 100 105 110 150 155 200 CAUTION Enter amounts into the Pre-Closing Trial Balance by typing in the amounts Do NOT copy cells from the General Ledger 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 Uneamed 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 Directions Trans Chart Acets A Journal GL Assets GOL Lab Equity AGL Rav-Exp Tala IS A SEU Ready D6 x fx 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 Expense Mower Repair Expense Wages Expense Truck Rental Expense Doprociation Expense Total Operating Expenses Income from Operations Interest Expense Net Income (Loss) 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 Lenny'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 Stock and in Retained Eamings 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 Earrings amount needed for the Balance Sheet. Beginning Balance is the starting amount. In previous Retaineesamings calculations, you used Current Balance as the starting amount. Beginning Balance is the starting point for this calculation, because Dividends is shown as a line item (a deduction) in the Retained Eamings column. The Ending Balance in the Retained Eamings column is the balance needed for the Balance Sheet Common Stock Retained Eamings Beginning Balance July 1, 2021 Issue Common Stock Net Income (Loss) Dividends Ending Balance July 31, 2021 Total $0.00 0.00 0.00 0.00 $0.00 $0.00 $0.00 Directions A Trans Chart Accts Journal AGL Assets GL Lab-Equity GL Rov-Exp Tria Bal AS & SE Ready Lenny's Lawn Service, Inc. Balance Sheet as of July 31, 2021 Enter amounts into the Balance Sheet by typing in the amounts. Do NOT copy cels from the General Ledger or Pre-Closing Trial Balance Assets Current Assets: Cash Accounts Receivable Supplies Total Current Assets Property & Equipment Equipment Accumulated Depreciation Property & Equipment, net Total Assets 0.00 0.00 $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 Fixed Asset cost, which remains to be deprecated in future accounting periods Total Current Liabilities is a total of those Habilities that will require payment in the next 12 months. In the case of Uncarned Revenue, this current liability will be paid-off" by Lenny's delivering mowing services to the university 0.00 Liabilities & Stockholders' Equity Current Liabilities: Accounts Payable Wagos Payable Interest Payable Uneamed Revenue Total Current Liabilities Long-Term Liabilities: Note Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 0.00 0.00 $0.00 Directions Trans Chart Accts Journal GL Assets AGL Liab-Equity AGL Rev-Exp Trial Bal IS & SE Ready Lenny's July 31, 2021 Pre-Closing Trial Balance Account Debit Credit CAUTION Enter amounts into the Pre-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 Account Name Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wagas Payable Interest Payable Uneamed 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 400 500 505 510 515 520 550 0.00 0.00 Directions Trans A Chart Accts A Journal GL Assets GL Liab-Equity GL Rev Exp That Bal IS & SEQUI Ready