Solid Footing 14e (need the whole thing)

I took two separate pictures so it is more clear :)

Lenny's Lawn Service, Inc. . Transactions - Additional Information July 2021 Transactions Date Description of Transaction July 1 Borow 338,000.00 from 1st Bank by signing a 24 monthnote sty Receive 1.100.00 ah firm intors, and is constantem 1 Phase 589.400.000 mwing mening cash the y Day 1820.00. elect Jy voice.com $8.830.00 brated on 10 Julys The Board of Directions dels cash dividend The total amount of the dividend 3.000.00 The Records The Red Payments 33 ? Pay the employees 35.9. pemegtei Jy 10 Completna mowic brew.contomet 36.290.09.hty the 15 Puchate 51.825.00 polis on the mowereder. The commediately en wil wees for the lies in tests Jy's Collect 56.830.00 on count. The chaised in the new customer orth Jwy 17 One of the original mwen phase in ray of 2020 brown July 29 Collect 3.000.00 ton per company for pemeine 21 Pins29 Swosome the wy22 Receive a $20.005.00 advance payment from the univery. The centis month Jwy 25 Complete a special mowing job for the golf course the foreigis 8.000.00 The golf cours $100000 cash on a date and will pays July 27 Complete a moins for a new customer-sumer shore Ay 27 Pay 51.62500 to Peter the speed on to any ODL July 1 moice the property management com 23.750.00 for Julyo Theory management company will pay per cento en el restroom wy1 Pay the cash dividend which was declared on July 5 Additional Information Equip The 548.000.00 Bilance in the course which was purchased on January 2, 2000. Foiningen se Page 70 in Bord Foeting PDF C7 Intro to Ajing ) This continues to be used and should be derfor the money The following intomation to the new and which w puched on July 1.2021 - The new it was placed in service only 1.2001 and should be for the month of July The estimated sellise of the Ale will be Tha Supplies Althe end 28.10.12 Mowing Service at the Univers The more mowing Vic was provided to the university Deregned on April 1, 2021 For information on the contract with the versity and there were Wage De the Employees The last wage payment womployees on July 22.2021 The employees worden July 2.30 en 51 For mere e days for the employees and 2.25 of These se days of was will be paid to De woning Nefit of t. Bank Loan The interesantelaton 1st Bank will be everyone the ent to the bank will be made on September 30,201 Lannya bakony and the bank indicates are on the loan for July 5775.00 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 Lenny's Lawn Service, Inc. - General Journal Page # 1 Posted Credit 2021 Month-Day 7-1 Account Number 100 250 Account Name Cash Notes Payable Borrowed on Note Payable Debit 35,000.00 35,000.00 Directions Trans Chart Accts Journal GL Assets GL Liab-Equity GL Rev. Ready Lenny's Lawn Service, Inc. - General Ledger Account 100 Cash SAWIRA Enter armour notre court by ving in the amounts Do NOT celom the General Jound the Credit 7-1 Beginning Balance Debit 38.25000 35,000 Balance 38.250.000 73D 1 Account 105 Accounts Receivable Credit 2021 Dey 7-1 Debit BR0000 Beginning Balance Account 110 Supplies Debl Credit 2021 Day 7.1 Balance 4375.00 Beginning Balance 4.375.00 Account 150 Equipment Credit 2021 De 7.1 Debit 48,000.00 Beginning Balance 200000D Account 155 Accumulated Depreciation 2021 Debit Credit 10000 Balance To 7.1 Beginning Balance Lamyslaw Service General Ledger SATILDES | | | A 200 Accounts Payable stone Gener De 0.00 BO AR 8 205 Wages Payable 20 De Degreglan O 0.00 3.08 A 210 Interest Payable 71 tegg 0.00! Q000 A 215 Unearned Revenue Da Od 71 Bagong 8,000.00 3.000 DO Acu 220 Dividends Payable D 0.00 0.00 ACR 250 Note Payable 11 Serge 0.00 35.000.00 000 35.000 DO A 300 Common Stock Dobit 21 50,000.00 SO DOLOG A 305 Retired Earning D C M Sewe 125.00 4 125 Lee Law Service in Banom Ledger N 400 Service Revenue ting the DO NOT by some Jour the WT De Cr Balance 11 Dance 000 ACE A 900 Supplies Expanse Cred - Det 000 Balance DO DE Hegningerne Acasos Mower Repair Expense De Cred - orice Balance DOO 0.00 Acco Wages Expense PORT Dub Cred 7-1 Begance 0.01 0.000 keco 515 Truck Pal Expense 21 pae Gr Balance 0.000 Big Band 0.00 A 520 Degreion Expense ROXY Crea Deba 0.00 Balance Dodba T! eginning once A 550 Interest Expense Cho Balance T-! Beginning 0.00 ORD Lenny's - July 31, 2021 Pre-Closing Trial Balance Account # Account Name Debit Credit 100 105 CAUTION Enter amounts into the Pre-Closing Trial Balance by typing in the amounts. DO NOT copy cells from the General Ledger 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 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 CAUTION Enter amounts into the Financial Statements by typing in the amounts Do NOT copy cells from the General Ledger or Pre-Closing Trial Balance Lenny's Lawn Service, Inc. Income Statement for the Month Ended July 31, 2021 Service Revenue Operating Expenses Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation 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 Eamings amount needed for the Balance Sheet. Beginning Balance is the starting amount in previous Retained Earnings 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 Common Stock Retained Earnings Beginning Balance July 1, 2021 Issue Common Stock Net Income (Loss) Dividends Ending Balance July 31, 2021 Total 50.00 0.00 0.00 0.00 $0.00 The Ending Balance in the retained Eamings column is the balance needed for the Balance Sheet $0.00 $0.00 Lenny's Lawn Service, Inc. Balance Sheet as of July 31, 2021 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 Note the following three new sub-totals appearing on Lenny's Balance Sheet: Assets Current Assets Cash Accounts Receivable Supplies Total Current Assets Property & Equipment: Equipment Accumulated Depreciation Property & Equipment, not Total Assets 0.00 0.00 $0.00 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 depreciated in future accounting periods Total Current Liabilities is a total of those liabilities that will require payment in the next 12 months. In the case of Unearned 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 Wages 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 Lenny's - July 31, 2021 Post-Closing Trial Balance Account 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 Account Name 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 DDUDU a 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 acample of how to journalize and post a transaction -- this transaction has already been wred Into the General Jours and posted to the General Ledger) July 1 Receive $76,100.00 cash from new investors, and issue $76,100.00 of Common Stock to them July 1 Purchase $59,400.00 of new mowing equipment, paying cash to the moner dealer. July 1 Pay $500.00 cash for the July truck rental July 3 Invoice a new customer $5,830.00 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 $30.000.00 The Date of Record is set as July 15. The Date of Payment is set as July 31 July 7 Pay the employees $5.900.00 for work performed during the 1st week of July. July 10 Complete a mowing job for a new customer - customer pays $4,250.00 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 $7.100.00 for work performed during the 2nd week el July July 15 Purchase $1,825.00 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 $6,830.00 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 mount dealer. The cost of the Mower Repair job is $930.00. Lenny's will pay the mower dealer in 30 days. July 19 Purchase for cash $26,950.00 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 $7,500.00 for work performed during the 3rd week of July. July 23 Receive a $26,025.00 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 moning job is $6,000.00 The golf course pays $1,000.00 cash on this date and will pay the remainder on August 25 July 27 Correlate a mowing job for a new customee -- customer pays $3,725.00 cash for the job. July 27 Pay 51,825.00 cash to the mower dealer for the supplies purchased on account on July 15. July 28 Pay the employees 56,890.00 for work performed during the 4th week of July July 31 Invoice the property management company $23,750.00 for July mowing work. The property management company will pay the invoice on the 20th of next month UD ODODO 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. * 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 $28,130.00 supplies on-hand. Mowing Service at the University: The monthly mowing service was provided to the university per the contract signed on April 1, 2021. For information on the contract with the university and the related advance payment, see Pages 95 and 98 in the Solid Footing text (PDF 08 - Adjusting Entries Continued). Wages Due the Employees: The last wage payment was made to the employees on July 28, 2021. The employees worked on July 29, 30, ar , and 31. For these three days of work the employees earned $2,245.00 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, 2021. Lenny's calls the bank on July 31 and the bank indicates that the interest on the loan for July is $775.00