{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

08 - SOLUTION Problems 8-5 to 8-6

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

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
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 $32,000 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 Ap 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 Timeline of Unearned Revenue on April 1 ( dash line ) and on April 30 ( solid line ) April 1 April 30 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?
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
for the Solutions to Problem 8-6 "T" Account Analysis for Asset and Liability Accounts
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

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-- Lenny’s 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?...
View Full Document

{[ snackBarMessage ]}