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08 - SOLUTION Problems 8-5 to 8-6

08 - SOLUTION Problems 8-5 to 8-6 - Account Name Debit...

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for the Solutions to Problem 8-5 "T" Account Analysis for Asset and Liability Accounts Account Name Debit Credit 9,000 (3) What adjustment is required to 1,400 7,600 Timeline of Unearned Revenue on April 1 (dash line) and on April 30 (solid line) $32,000 April 1 April 30 May 31 June 30 July 31 1 2 3 $24,000 "T" Account Analysis for Asset and Liability Accounts Account Name Unearned Revenue Debit Credit 32,000 (3) What adjustment is required to 8,000 24,000 Problem 8-5 Solution -- Lenny’s Unearned Revenue Adjusting Entry for See the April screen in the 3-Lenny's Lawn Service.xls workbook Requirement 6 -- "T" Account Analysis Supplies (asset account) (1) What is the current balance? adjust from the current balance to the should be balance? (2) What should be the balance? Requirement 7 -- Timeline Requirement 7 -- "T" Account Analysis (1) What is the current balance? adjust from the current balance to the should be balance? (2) What should be the balance?
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for the Solutions to Problem 8-6 "T" Account Analysis for Asset and Liability Accounts
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Unformatted text preview: Account Name Debit Credit 7,600 (3) What adjustment is required to 1,725 5,875 Timeline of Unearned Revenue on April 1 (dash line) and on May 31 (solid line) $32,000 April 1 April 30 May 31 June 30 July 31 1 2 $16,000 "T" Account Analysis for Asset and Liability Accounts Account Name Unearned Revenue Debit Credit 24,000 (3) What adjustment is required to 8,000 16,000 Problem 8-6 Solution-- Lenny’s Unbilled (Accrued) Revenue Adjusting See the May screen in the 3-Lenny's Lawn Service.xls workbook Requirement 3-- "T" Account Analysis Supplies (asset account) (1) What is the current balance? adjust from the current balance to the should be balance? (2) What should be the balance? Requirement 4-- Timeline Requirement 4-- "T" Account Analysis (1) What is the current balance? adjust from the current balance to the should be balance? (2) What should be the balance?...
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