3 - Lenny's Lawn Service

3 - Lenny's Lawn Service - January, 2009 Depreciation...

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Unformatted text preview: January, 2009 Depreciation Example $67,000 $0 $67,000 Assets = Liabilities + Owners' Equity General Journal Date Account Debit Credit Wages Common Beg Balance 8,500 Beg Balance 0 Beg Balance 50,000 Current Balance 50,000 Current Balance 0 Retained Current Balance 8,500 Unearned Beg Balance 17,000 Accounts Beg Balance 0 Beg Balance 22,500 Service Current Balance 0 Current Balance 22,500 Beg Balance 0 Current Balance 0 Beg Balance 0 Supplies Wages Current Balance 0 Beg Balance 0 Beg Balance 0 Current Balance 0 Current Balance 0 Beg Balance 48,000 Truck Rental Depreciation Current Balance 48,000 Beg Balance 0 Beg Balance 0 Accumulated Beg Balance 12,000 Current Balance 0 Current Balance 0 Current Balance 12,000 Lenny's Lawn Service, Inc. Lenny's Lawn Service, Inc. Balance Sheet Balance Sheet Income Statement Income Statement Assets: Assets: Cash Cash Service Revenue Service Revenue Accounts Rec. Accounts Rec. Supplies Supplies Expenses: Expenses: Equipment Equipment Supplies Exp Supplies Exp Accum. Depr. Accum. Depr. Truck Rent Exp Truck Rent Exp Total Assets Total Assets Wages Exp Wages Exp Depreciation Exp Depreciation Exp Liabilities: Liabilities: Total Expenses Total Expenses Wages Payable Wages Payable Unearned Rev. Unearned Rev. Net Income Net Income Total Liabilities Total Liabilities Equity: Equity: Common Stock Common Stock Ret. Earnings Ret. Earnings Total Equity Total Equity Total Liab&Equity Total Liab&Equity Dr Cash Cr Dr Payable Cr Dr Stock Cr Dr Earnings Cr Dr Revenue Cr Dr Receivable Cr Dr Revenue Cr Dr Supplies Cr Dr Expense Cr Dr Expense Cr Dr Equipment Cr Dr Expense Cr Dr Expense Cr Dr Depreciation Cr February, 2009 Supplies Example $74,075 $0 $74,075 Assets = Liabilities + Owners' Equity General Journal Date Account Debit Credit Wages Common Beg Balance 13,075 Beg Balance 0 Beg Balance 50,000 Current Balance 50,000 Current Balance 0 Retained Current Balance 13,075 Unearned Beg Balance 24,075 Accounts Beg Balance 0 Beg Balance 26,000 Service Current Balance 0 Current Balance 26,000 Beg Balance 0 Current Balance 0 Beg Balance 0 Supplies Wages Current Balance 0 Beg Balance 0 Beg Balance 0 Current Balance 0 Current Balance 0 Beg Balance 48,000 Truck Rental Depreciation Current Balance 48,000 Beg Balance 0 Beg Balance 0 Accumulated Beg Balance 13,000 Current Balance 0 Current Balance 0 Current Balance 13,000 Lenny's Lawn Service, Inc. Lenny's Lawn Service, Inc. Balance Sheet Balance Sheet Income Statement Income Statement Assets: Assets: Cash Cash Service Revenue Service Revenue Accounts Rec. Accounts Rec. Supplies Supplies Expenses: Expenses: Equipment Equipment Supplies Exp Supplies Exp Accum. Depr. Accum. Depr. Truck Rent Exp Truck Rent Exp Total Assets Total Assets Wages Exp Wages Exp Depreciation Exp Depreciation Exp Liabilities: Liabilities: Total Expenses Total Expenses Wages Payable Wages Payable Unearned Rev. Unearned Rev. Net Income Net Income Total Liabilities Total Liabilities Equity: Equity: Common Stock Common Stock Ret. EarningsRet....
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3 - Lenny's Lawn Service - January, 2009 Depreciation...

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