please solve all the problems.
Format Tools Data Window Help Espinal Mineis-ACP Excel File Edit View Insert BU Home insert Draw Page Layout Formulas Data Review View A- So Wrap Text B A aste Merge & Center x fx Lenny's Lawn Service, Inc. - Transactions - Additional Information July 2021 Transactions Date Description of the Transaction boonored July 1 Borrow $35,000,00 from 1st Bank by signing a 24 month note. (As an example of how to journal and post a transaction--the transaction has into the General Journal and posted to the General Ledger) July 1 Receive $62,000.00 cash from new investors, and issue $62,000.00 of Common Stock to them. July 1 Purchase $41,400.00 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 customer $4,800.00 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 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 54,800.00 on account. The cash that is received is from the new customer for the job that was completed on July 3 DODDI 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 $450.00. Lenny's will pay the mower dealer in 30 days Directions Trans Chart Accts Journal GL Assets GL Lab-Equity GL Rev-Exp ty Format Tools Data Window Help Excel File Edit View Insert B. Home Insert Draw Page Layout Espinal Mineis-ACP Formulas Data Review View AA Wrap Test aste B Morge & Center 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 $450,00 Lenny's will pay the mower dealer in 30 days. July 19 Purchase for cash $22,750.00 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 $7,100.00 for work performed during the 3rd week of July July 23 Receive a $19,500.00 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 July 25 Complete a special mowing job for the golf course. The total price for the mowing job is $5,500.00 The golf course pays $500.00 cash on this date and will pay the remainder on August 25. July 27 Complete a mowing job for a new customer-customer pays $3,900.00 cash for the job. July 27 Pay $1,020.00 cash to the mower dealer for the supplies purchased on account on July 15. July 28 Pay the employees $6,100.00 for work performed during the 4th week of July July 31 Invoice the property management company $18,500.00 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, 2020. For information related to this mowing equipment see Page 70 in the Solid Footing text (PDF 07 - Intro to Adjusting Entries) 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, 2021 - The new equipment was placed into service on July 1, 2021 and should be depreciated for the month of July Directions Trans Chart Accts Journal GL Assets GL Liab-Equity Ready AGL Rev.Exp tv Edit Excel File View Insert Data Format Tools Window Help Espinal Mineis- Draw Home Data Insert Formulas Review View Page Layout A- A To Wrap Text Paste B U A Merge & Center B2 x fx Lenny's Lawn Service, Inc. - Chart of Accounts Account # Account Name 100 105 110 150 155 200 205 210 215 220 250 Assets: Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Liabilities: Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Equity: Common Stock Retained Earnings Revenues: Service Revenue Expenses: Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense 300 305 400 500 505 510 515 520 550 Dunctions Chart Acats Journal @ GL Assets GL Lieb-Equity etv s Excel File Edit View insert Format Tools Data Window Help ABSU- Home Insert Draw Page Layout Formulas Review View Espinal Mineis-ACP Data w Tech BTU 22 erge Center 5 C Formatting 016 MINEISY ESPINAL Lenny's Lawn Service, Inc - General Journal Page 1 2021 Manhwy Posted Debit Credit Account Mumte 100 250 Account Name Cash Notes Payable Borrowed on Note Payable X X 35,000.00 35,000.00 Trans Chart Accia OL Assets OL Lab-Equity GL RevExp Trio Bal sty a W Excel File Edit View Insert Format Tools Data Window Help oOo AU - Home Insert Draw Page Layout Formulas Data Review View Espinal Mineis-ACP Wrap Test- Pasto Verge Center Con Format f MINEISY ESPINAL Lenny's Lawn Service, Inc. - General Ledger CAUTION Enter amounts into the acc typing in the amounts Do NOT copy cells from the Journal into the accounts Account # 100 Cash Journal Page Credit 2021 Money 7.1 7-1 Beginning Balance Debit 38,250.00 35,000.00 Balance 38,250.00 Dr 73 250.00 Dr 1 Account # 105 Accounts Receivable Journal GLA GL L-Equity GL Rov-Exp Tal we stv W Excel File Edit View Insert Format Tools Data Window Help 5.5 Home Insert Draw Page Layout Formulas Data Review View Espina Mineis-ACP Megos De 5. BU conditions for C11 Xfx Account # 105 Accounts Receivable Journal Page Debit 2021 May 7-1 Beginning Balance Credit Balance 33,500.00 DE 33,500.00 Account # 110 Supplies 2021 Ja Credit Balance Debit 4.375.00 741 Beginning wance 4,375.00 DE Account W 150 Equipment 2021 Morowy Journal Per Credit Beginning Balance Debit 48,000.00 Balance 48,000.00 DE Direction Chan Adat Journal OLA GL Lieb-Equity OL Rev.Exp Trial By atv W Excel File Edit View insert Format Tools Data Window Help O ABU- Home Insert Draw Page Layout Formulas Data Review View Espinal Mineis-ACP (AT West Paste B 5 condcon 011 Account # 150 Equipment 2021 My Day Journal Page 1 Debit Credit Balance 48,000.00 Dr Beginning Balance 48.000.00 Account # 155 Accumulated Depreciation 2021 Marthy 741 Beginning Balance Journal Papa Debit Credit Balance 18,000.00 18,000.00 Diction Chart Accts Journal GL Asset GL Linb-Equity GL Rov-Exp TWB otv W Excel File Edit View insert Format Tools Data Window Help @= Insert Draw Page Layout Formulas Data Review View Espinal Mineis-ACP ame West Merge Center 5.36 Cong MINEISY ESPINAL Lenny's Lawn Service, Inc. - General Ledger CAUTIO Enter amounts into th typing in the amounts Do NOT copy cells fro Journal into the accou Account # 200 Accounts Payable Journal Page Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 0.00 0.00 Cr Account W 205 Wages Payable Journal Pave Debit Credit 2021 Morth Day 7-1 Balance Beginning Balance 0.00 0.00 C Account # 210 Interest Payable 2021 Journal Debit Credit 7-1 Beginning Balance 0.00 Balance 0.00 CP Account : 215 Unearnod Revenuo Chart Accts Dictions Journal GLASS GL. Lab Equity GL Roy.ED ty Excel File Edit View Insert Format Tools Data Window Help ABU Home Insert Draw Page Layout Formulas Data Review View Espinal Minols-ACP A- A Won Text -Merge & Center 5 Cone Fan 10 ex fe Account # 215 Unearned Revenue 2021 Money Journal Paper Debit Credit 8,000.00 Beginning Balance Balance 8,000.00 CE Account # 220 Dividends Payable 2021 Journal Debit Papa Credit 7.1 Beginning Balance Balance 0.00 CE 0.00 Account N 250 Note Payable 2021 Journal Dobit Balance 7.1 7.1 Beginning Balance Credit 0.00 35,000.00 0.00 Cr 35,000.00 C Trans Chart Act A Journal GL Assets GL Lab Emily GL Rev.Exp Trial LU ty Excel File Edit View Insert Format Tools Data Window Help Espinal Mineis-ACP Insert Draw Page Layout Formulas Data Review View A- A Wap Text 2 - A Mergo & Center x fx MINEISY ESPINAL Lenny's Lawn Service, Inc. - General Ledger Enter amo typing int Account # 400 Service Revenue Do NOT CH Journal int Journal Page Debit 2021 Month Day 7-1 Credit Balance 0.00 C Beginning Balance 0.00 Account # 500 Supplies Expense 2021 Month Day 7-1 Journal Page Debit Credit Beginning Balance 0.001 Balance 0.00 DE Directions Chart Adet Journal GL Assets GL Liab-Equity GL Re-Exp sy 6.04 ty Help Excel File Edit View Insert Format Tools Data Window Espinal Mineis-ACP ome Draw Data Review View Insert Formulas Page Layout - A- Wap Test Merge Center Cond Form Xfx Account # 505 Mower Repair Expense 2021 Journal Page Debit Credit Mornay Balance 0.00 Dr Beginning Balance 0.00 Account # 510 Wages Expense Journal Page 1 Debit 2021 Month Day 7-1 Credit Balance 0.00 DE Beginning Balance 0.00 Account # 515 Truck Rental Expense 2021 More Oy 7.1 Journal PA Debit Credit Beginning Balance 0.001 Balance 0.00 DE Otions Tran Chart Act Journal GL Assets OL Lab Equity GL Rev.Expo Trial otv Excel File Edit View Insert Format Tools Data Window Help . a Espinal Mineis-ACP lome Insert View Draw Data Review Page Layout Formulas ANA A Wan Test Merge Center CO Norman 0 f Account # 515 Truck Rental Expense 2021 Journal Page Money Debit Credit Balance 0.00 DE 7.1 Beginning Balance 0.00 Account W 520 Depreciation Expense 2021 Morray Journal Papa Debit Credit Beginning Balance 0.00 Balance 0.00 DE Account # 550 Interest Expense 2021 Month Day 7.1 Journal Page Credit Beginning Balance Dobit 0.001 Balance 0.00 DY Chart Act A Journal GL Assets AOL Liab-Equity OLE &tv X w Excel File Edit View Insert Format Tools Data Window Help 2. Espinal Mineis-ACP Home Insert Draw Page Layout Formulas Data Review View A- A Wrap Test Pasto E6 Marge Center : x x MINEISY ESPINAL Lenny's. July 31, 2021 Pre-Closing Trial Balance Account Debit Credit CAUTION Enter amounts into the Pre-Cl typing in the amounts. 100 Do NOT copy cells from the G 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 Account Name Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Uneamed Revenue Dividends Payable Note Payable Common Stock Retained Eamings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 520 550 0.00 0.00 Directions Trans Chart Accts Journal Ready AGL Assets GL Lieb-Equity GL R. Excel Filo Edit View Insert Format Tools Data Window Help Espiral Mineis-ACP Insert Home Draw Page Layout Formules Data Review View wa Paine MOM cm SI) ny D6 MESYESPINAL 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 or Pro-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 0.06 $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 Lonny's. This statement shows who caused the change in Common Stock and in Retained Eaming from July 1, 2021 to July 31, 2021. Note that the Retained E column on the statement looks different than the calculation y have been doing each month to determine the Retained Emin amount needed for the Balance Sheet Beginning Balance is starting amount in previous Retained Emig calculations used Current Balance as the starting amount. Beginning Balan is the starting point for this calculation, because Dividends is as a line item (a deduction in the Retained Langs column Common Stock Retained Earrings Beginning Dance July 1, 2021 Issue Common Stock Net Income Dividende Ending Balance July 31, 2023 Total 50.00 0.00 0.00 000 $0.00 $0.00 The Ending Balance in the Retained Emings column is the needed for the Balance Sheet Drucsont Journal GL Assets AGL Lieb-Equity OL Rev. Esp Thala ty w 30 888 %23 # N 2 3 $ 4 & 7 Espinal Minis-ACP Excel FleEdit View Insert Format Tools Data Window Help oo A 5. Home Draw Page Layout Formulas Data Review View Pest DO NOTO Calls from the General Ledgero Pre-Closing The Balance Balance Sheet as of July 31, 2021 Assets 0.00 Cash Acobus Recoratie Supplies Totalment Assets Property & Event Equipment Accumulated Depreciation Property & Equipment, net Total Assets 0.00 $0.00 Note the following rewwsubtotals appearing on Lenny's Balance Sheet Total Current Assets is a tow of those which will turn into cash during the next 12 months or comparison of Total Current Assets to Total Current Limbi gives some indication of Larny's liquidity that is, ability to pay its bills in the shortom Property & Equipment, net is the amount of Fored Al costwhich romans to be deprecated in future accounting perioda Total Current Liabilities is a total of those Sabiles that will require payment in the next 12 months in the case of Uneared Revenue, this current obity will be paid off by Lonny's delivering mowing services to the university Liabiles & Stockholders' Equity Accounts Payable Wages Payable Interest Payable Uneamed Revenue Tot Current Labs Long Term Lite Note Payable Total Liabilities Stockholdes Common Stock Red Earrings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 0.00 0.00 $0.00 Journal GL Assets Direct Chart Act GL Rev.Ex TH OL Lat-Equity Red dtv Espina Mineis-ACP Excel File Edit View Insert Format Tools Data Window Help BUS Home insert Draw Page Layout Formules Data Review View este LO MNES ESPAI Lenny's - July 31, 2021 Post-Closing Trial Balance Debat Credit CATION Enter amounts into the Polosing Trial Balance by typing in the amounts Do NOT copy cells from the General Ledger Account 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Account Name Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Ungmed Revenue Dividends Payable Note Payable Common Stock Retained Earrings Service Revo Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Deprecision Expense Interest Expense Totals 0.00 0.00 one Trans Chart Acts Journal GL Assets GL Lab Equity GL Revap Gtv . MEBORAH BO BU Format Tools Data Window Help Espinal Mineis-ACP Excel File Edit View Insert BU Home insert Draw Page Layout Formulas Data Review View A- So Wrap Text B A aste Merge & Center x fx Lenny's Lawn Service, Inc. - Transactions - Additional Information July 2021 Transactions Date Description of the Transaction boonored July 1 Borrow $35,000,00 from 1st Bank by signing a 24 month note. (As an example of how to journal and post a transaction--the transaction has into the General Journal and posted to the General Ledger) July 1 Receive $62,000.00 cash from new investors, and issue $62,000.00 of Common Stock to them. July 1 Purchase $41,400.00 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 customer $4,800.00 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 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 54,800.00 on account. The cash that is received is from the new customer for the job that was completed on July 3 DODDI 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 $450.00. Lenny's will pay the mower dealer in 30 days Directions Trans Chart Accts Journal GL Assets GL Lab-Equity GL Rev-Exp ty Format Tools Data Window Help Excel File Edit View Insert B. Home Insert Draw Page Layout Espinal Mineis-ACP Formulas Data Review View AA Wrap Test aste B Morge & Center 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 $450,00 Lenny's will pay the mower dealer in 30 days. July 19 Purchase for cash $22,750.00 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 $7,100.00 for work performed during the 3rd week of July July 23 Receive a $19,500.00 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 July 25 Complete a special mowing job for the golf course. The total price for the mowing job is $5,500.00 The golf course pays $500.00 cash on this date and will pay the remainder on August 25. July 27 Complete a mowing job for a new customer-customer pays $3,900.00 cash for the job. July 27 Pay $1,020.00 cash to the mower dealer for the supplies purchased on account on July 15. July 28 Pay the employees $6,100.00 for work performed during the 4th week of July July 31 Invoice the property management company $18,500.00 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, 2020. For information related to this mowing equipment see Page 70 in the Solid Footing text (PDF 07 - Intro to Adjusting Entries) 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, 2021 - The new equipment was placed into service on July 1, 2021 and should be depreciated for the month of July Directions Trans Chart Accts Journal GL Assets GL Liab-Equity Ready AGL Rev.Exp tv Edit Excel File View Insert Data Format Tools Window Help Espinal Mineis- Draw Home Data Insert Formulas Review View Page Layout A- A To Wrap Text Paste B U A Merge & Center B2 x fx Lenny's Lawn Service, Inc. - Chart of Accounts Account # Account Name 100 105 110 150 155 200 205 210 215 220 250 Assets: Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Liabilities: Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Equity: Common Stock Retained Earnings Revenues: Service Revenue Expenses: Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense 300 305 400 500 505 510 515 520 550 Dunctions Chart Acats Journal @ GL Assets GL Lieb-Equity etv s Excel File Edit View insert Format Tools Data Window Help ABSU- Home Insert Draw Page Layout Formulas Review View Espinal Mineis-ACP Data w Tech BTU 22 erge Center 5 C Formatting 016 MINEISY ESPINAL Lenny's Lawn Service, Inc - General Journal Page 1 2021 Manhwy Posted Debit Credit Account Mumte 100 250 Account Name Cash Notes Payable Borrowed on Note Payable X X 35,000.00 35,000.00 Trans Chart Accia OL Assets OL Lab-Equity GL RevExp Trio Bal sty a W Excel File Edit View Insert Format Tools Data Window Help oOo AU - Home Insert Draw Page Layout Formulas Data Review View Espinal Mineis-ACP Wrap Test- Pasto Verge Center Con Format f MINEISY ESPINAL Lenny's Lawn Service, Inc. - General Ledger CAUTION Enter amounts into the acc typing in the amounts Do NOT copy cells from the Journal into the accounts Account # 100 Cash Journal Page Credit 2021 Money 7.1 7-1 Beginning Balance Debit 38,250.00 35,000.00 Balance 38,250.00 Dr 73 250.00 Dr 1 Account # 105 Accounts Receivable Journal GLA GL L-Equity GL Rov-Exp Tal we stv W Excel File Edit View Insert Format Tools Data Window Help 5.5 Home Insert Draw Page Layout Formulas Data Review View Espina Mineis-ACP Megos De 5. BU conditions for C11 Xfx Account # 105 Accounts Receivable Journal Page Debit 2021 May 7-1 Beginning Balance Credit Balance 33,500.00 DE 33,500.00 Account # 110 Supplies 2021 Ja Credit Balance Debit 4.375.00 741 Beginning wance 4,375.00 DE Account W 150 Equipment 2021 Morowy Journal Per Credit Beginning Balance Debit 48,000.00 Balance 48,000.00 DE Direction Chan Adat Journal OLA GL Lieb-Equity OL Rev.Exp Trial By atv W Excel File Edit View insert Format Tools Data Window Help O ABU- Home Insert Draw Page Layout Formulas Data Review View Espinal Mineis-ACP (AT West Paste B 5 condcon 011 Account # 150 Equipment 2021 My Day Journal Page 1 Debit Credit Balance 48,000.00 Dr Beginning Balance 48.000.00 Account # 155 Accumulated Depreciation 2021 Marthy 741 Beginning Balance Journal Papa Debit Credit Balance 18,000.00 18,000.00 Diction Chart Accts Journal GL Asset GL Linb-Equity GL Rov-Exp TWB otv W Excel File Edit View insert Format Tools Data Window Help @= Insert Draw Page Layout Formulas Data Review View Espinal Mineis-ACP ame West Merge Center 5.36 Cong MINEISY ESPINAL Lenny's Lawn Service, Inc. - General Ledger CAUTIO Enter amounts into th typing in the amounts Do NOT copy cells fro Journal into the accou Account # 200 Accounts Payable Journal Page Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 0.00 0.00 Cr Account W 205 Wages Payable Journal Pave Debit Credit 2021 Morth Day 7-1 Balance Beginning Balance 0.00 0.00 C Account # 210 Interest Payable 2021 Journal Debit Credit 7-1 Beginning Balance 0.00 Balance 0.00 CP Account : 215 Unearnod Revenuo Chart Accts Dictions Journal GLASS GL. Lab Equity GL Roy.ED ty Excel File Edit View Insert Format Tools Data Window Help ABU Home Insert Draw Page Layout Formulas Data Review View Espinal Minols-ACP A- A Won Text -Merge & Center 5 Cone Fan 10 ex fe Account # 215 Unearned Revenue 2021 Money Journal Paper Debit Credit 8,000.00 Beginning Balance Balance 8,000.00 CE Account # 220 Dividends Payable 2021 Journal Debit Papa Credit 7.1 Beginning Balance Balance 0.00 CE 0.00 Account N 250 Note Payable 2021 Journal Dobit Balance 7.1 7.1 Beginning Balance Credit 0.00 35,000.00 0.00 Cr 35,000.00 C Trans Chart Act A Journal GL Assets GL Lab Emily GL Rev.Exp Trial LU ty Excel File Edit View Insert Format Tools Data Window Help Espinal Mineis-ACP Insert Draw Page Layout Formulas Data Review View A- A Wap Text 2 - A Mergo & Center x fx MINEISY ESPINAL Lenny's Lawn Service, Inc. - General Ledger Enter amo typing int Account # 400 Service Revenue Do NOT CH Journal int Journal Page Debit 2021 Month Day 7-1 Credit Balance 0.00 C Beginning Balance 0.00 Account # 500 Supplies Expense 2021 Month Day 7-1 Journal Page Debit Credit Beginning Balance 0.001 Balance 0.00 DE Directions Chart Adet Journal GL Assets GL Liab-Equity GL Re-Exp sy 6.04 ty Help Excel File Edit View Insert Format Tools Data Window Espinal Mineis-ACP ome Draw Data Review View Insert Formulas Page Layout - A- Wap Test Merge Center Cond Form Xfx Account # 505 Mower Repair Expense 2021 Journal Page Debit Credit Mornay Balance 0.00 Dr Beginning Balance 0.00 Account # 510 Wages Expense Journal Page 1 Debit 2021 Month Day 7-1 Credit Balance 0.00 DE Beginning Balance 0.00 Account # 515 Truck Rental Expense 2021 More Oy 7.1 Journal PA Debit Credit Beginning Balance 0.001 Balance 0.00 DE Otions Tran Chart Act Journal GL Assets OL Lab Equity GL Rev.Expo Trial otv Excel File Edit View Insert Format Tools Data Window Help . a Espinal Mineis-ACP lome Insert View Draw Data Review Page Layout Formulas ANA A Wan Test Merge Center CO Norman 0 f Account # 515 Truck Rental Expense 2021 Journal Page Money Debit Credit Balance 0.00 DE 7.1 Beginning Balance 0.00 Account W 520 Depreciation Expense 2021 Morray Journal Papa Debit Credit Beginning Balance 0.00 Balance 0.00 DE Account # 550 Interest Expense 2021 Month Day 7.1 Journal Page Credit Beginning Balance Dobit 0.001 Balance 0.00 DY Chart Act A Journal GL Assets AOL Liab-Equity OLE &tv X w Excel File Edit View Insert Format Tools Data Window Help 2. Espinal Mineis-ACP Home Insert Draw Page Layout Formulas Data Review View A- A Wrap Test Pasto E6 Marge Center : x x MINEISY ESPINAL Lenny's. July 31, 2021 Pre-Closing Trial Balance Account Debit Credit CAUTION Enter amounts into the Pre-Cl typing in the amounts. 100 Do NOT copy cells from the G 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 Account Name Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Uneamed Revenue Dividends Payable Note Payable Common Stock Retained Eamings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 520 550 0.00 0.00 Directions Trans Chart Accts Journal Ready AGL Assets GL Lieb-Equity GL R. Excel Filo Edit View Insert Format Tools Data Window Help Espiral Mineis-ACP Insert Home Draw Page Layout Formules Data Review View wa Paine MOM cm SI) ny D6 MESYESPINAL 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 or Pro-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 0.06 $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 Lonny's. This statement shows who caused the change in Common Stock and in Retained Eaming from July 1, 2021 to July 31, 2021. Note that the Retained E column on the statement looks different than the calculation y have been doing each month to determine the Retained Emin amount needed for the Balance Sheet Beginning Balance is starting amount in previous Retained Emig calculations used Current Balance as the starting amount. Beginning Balan is the starting point for this calculation, because Dividends is as a line item (a deduction in the Retained Langs column Common Stock Retained Earrings Beginning Dance July 1, 2021 Issue Common Stock Net Income Dividende Ending Balance July 31, 2023 Total 50.00 0.00 0.00 000 $0.00 $0.00 The Ending Balance in the Retained Emings column is the needed for the Balance Sheet Drucsont Journal GL Assets AGL Lieb-Equity OL Rev. Esp Thala ty w 30 888 %23 # N 2 3 $ 4 & 7 Espinal Minis-ACP Excel FleEdit View Insert Format Tools Data Window Help oo A 5. Home Draw Page Layout Formulas Data Review View Pest DO NOTO Calls from the General Ledgero Pre-Closing The Balance Balance Sheet as of July 31, 2021 Assets 0.00 Cash Acobus Recoratie Supplies Totalment Assets Property & Event Equipment Accumulated Depreciation Property & Equipment, net Total Assets 0.00 $0.00 Note the following rewwsubtotals appearing on Lenny's Balance Sheet Total Current Assets is a tow of those which will turn into cash during the next 12 months or comparison of Total Current Assets to Total Current Limbi gives some indication of Larny's liquidity that is, ability to pay its bills in the shortom Property & Equipment, net is the amount of Fored Al costwhich romans to be deprecated in future accounting perioda Total Current Liabilities is a total of those Sabiles that will require payment in the next 12 months in the case of Uneared Revenue, this current obity will be paid off by Lonny's delivering mowing services to the university Liabiles & Stockholders' Equity Accounts Payable Wages Payable Interest Payable Uneamed Revenue Tot Current Labs Long Term Lite Note Payable Total Liabilities Stockholdes Common Stock Red Earrings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 0.00 0.00 $0.00 Journal GL Assets Direct Chart Act GL Rev.Ex TH OL Lat-Equity Red dtv Espina Mineis-ACP Excel File Edit View Insert Format Tools Data Window Help BUS Home insert Draw Page Layout Formules Data Review View este LO MNES ESPAI Lenny's - July 31, 2021 Post-Closing Trial Balance Debat Credit CATION Enter amounts into the Polosing Trial Balance by typing in the amounts Do NOT copy cells from the General Ledger Account 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Account Name Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Ungmed Revenue Dividends Payable Note Payable Common Stock Retained Earrings Service Revo Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Deprecision Expense Interest Expense Totals 0.00 0.00 one Trans Chart Acts Journal GL Assets GL Lab Equity GL Revap Gtv . MEBORAH BO BU
