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Unformatted text preview: Account Name: Debit Credit 7,600 (3) What adjustment is required to 1,725 5,875 $32,000 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-- Lennys Unbilled (Accrued) Revenue Adjusting Ent 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 Timeline of Unearned Revenue on April 1 ( dash line ) and on May 31 ( solid line ) April 1 April 30 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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This note was uploaded on 04/02/2012 for the course MKTG 300 taught by Professor Wong during the Spring '12 term at St. Xavier.
- Spring '12