ences Mailings Review View E E . abe! AaBbcAbbCoDa Emphasis ABbCena Heading! Problem 8-6 Lenny's May Accounting Period This problem repeats Lenny's month of May from Chapter 8. Print the forms on the following pages and use them to complete this problem. Requirement 1 Observe that for each of the May 2019 transactions the required entries have been made in the General Journal and posted to the General Ledger. Requirement 2 Based on the information given in Requirement 5 of problem 8-5, record the May depreciation adjusting entry in the General Journal and post the adjusting entry to the General Ledger accounts. Requirement 3 On May 31, Lenny's determines that there are $5,875 of supplies still on hand. Determine the required adjusting entry that needs to be made to the Supplies asset account by completing the Supplies T Account Analysis form Based on your "T" Account Analysis, record the May supplies adjusting entry in the General Journal and post the adjusting entry to the General Ledger accounts Requirement 4 Use the information given in Requirement 2 of Problem 8-5 concerning the April 1 $32,000 advance payment from a local university to complete this requirement. Prepare and record the May 31 adjusting entry for Unearned Revenue as follows: Put the April 1 and May 31 dollar amounts in the Timeline of Unearned Revenue chart. Utilize the information from the Uneamed Revenue account in the General Ledger and from the Timeline of Uneamed Revenue chart to complete the Uneamed Revenue "T Account Analysis form . Based on your 'T Account Analysis, record the May 31 Uneamed Revenue adjusting entry in the General Journal and post the adjusting entry to the General Ledger accounts Requirement 5 On May 31, Lenny's starts and completes a special mowing job for a golf course. The agreed upon price for the mowing job is $3.500. Given the late completion time of the job on May 31, the mowing job was not invoiced in the month of May. Record in the General Joumal the adjusting entry related to this unbilled job, and post the adjusting entry to the General Ledger accounts. Focu a Chapter 08 Additional Problems (Compatibility Mode] Review View inces Mailings AaRCod AaBbCcDc AnebCcDd AaBBCD Emphanie Huding Normal Strong ABODE Subare Chapter 8 Additional Problems -- SOLID FOOTING Problem 8-6 Lenny's May Accounting Period (continued) Requirement 6 Some ending account balances have already been calculated for you in the General Ledger. For those accounts that do not contain ending balances, compute the required ending balances Requirement 7 Prepare a Pre-Closing Trial Balance Requirement 8 Compare your solutions for Requirements 3-Lenny's Lawn Service workbook. through 6 FOCUS AaRbCoDai Aa BbCcDc AabCcDc ABCEDA Handling 1 Strong Debit Cre Date May 01 Account Truck Rental Expense Pay May Truck Rental Mey 20 Cash Accounts Receivable Collect cash from prop. mot. co on the act May 31 Wages Expense 22.500 Pay wages for May 1 to 31 29,000 Accounts Receivable Service Revenue Invoice prop. mgt.co.for May servit 29,000 Depreciation adjustment for May Adjust supplies to May 31 on hand bal Adjust Unearned Rev to May 31 amount AR for unbilled golf course job AaBb CcDadi AaBbCcDc AaBbccDd Chapter 8 Additional Problems - SOLID FOOTING Problem 8-6 Forms (continued) Pre-Closing Trial Balance Ferences Mailings Review View Aalb Cebu AaBbCcDc AaBbCcDd AB Cend Aa Bbc Emehess Heading 1 Normal Streng Sube Assets General Ledger Llabilities Owners' Equity Wages Payable Commen De Beg Balance Beg Balance May 20 May 31 Ending Bal Retained Beg Balance 54.550 Beg Balance Current Bal. Service Beg Balance May 31 May 31 May 31 Ending Bal Beg Balance 1 May 31 Ending Bal Ending Bal. De Equipment C May 01 500 Ending Bal 4 8.000 Accumulated Depreciation Wages Esense Di C Di Balance Balance 31 ding B 2 2.500 2 2.500 Depreciation Beg Balance Eng Focus nces Mailings Review View AaBb CcDd AaBbCcDc AabbCcDd Streng SO Emphasis Heading 1 Chapter 8 Additional Problems -- SOLID FOOTING Problem 8-6 Forms (continued) "T" Account Analysis for Asset and Liability Accounts Account Name Supplies (asser account) Debit Credit (1) What is the current balance? (3) What adjustment is required to adjust from the current balance to the should be balance? (2) What should be the balance? Timeline Showing the Amount of Unearned Revenue on April 1 and on May 31 April 1 A pril 30 May 31 June 30 July 31 "T" Account Analysis for Asset and Liability Accounts Account Name Unearned Revenue Debit Credit (1) What is the current balance ? (3) What adjustment is required to adjust from the current balance to the should be balance? (2) What should be the balance? Focus ences Mailings Review View E E . abe! AaBbcAbbCoDa Emphasis ABbCena Heading! Problem 8-6 Lenny's May Accounting Period This problem repeats Lenny's month of May from Chapter 8. Print the forms on the following pages and use them to complete this problem. Requirement 1 Observe that for each of the May 2019 transactions the required entries have been made in the General Journal and posted to the General Ledger. Requirement 2 Based on the information given in Requirement 5 of problem 8-5, record the May depreciation adjusting entry in the General Journal and post the adjusting entry to the General Ledger accounts. Requirement 3 On May 31, Lenny's determines that there are $5,875 of supplies still on hand. Determine the required adjusting entry that needs to be made to the Supplies asset account by completing the Supplies T Account Analysis form Based on your "T" Account Analysis, record the May supplies adjusting entry in the General Journal and post the adjusting entry to the General Ledger accounts Requirement 4 Use the information given in Requirement 2 of Problem 8-5 concerning the April 1 $32,000 advance payment from a local university to complete this requirement. Prepare and record the May 31 adjusting entry for Unearned Revenue as follows: Put the April 1 and May 31 dollar amounts in the Timeline of Unearned Revenue chart. Utilize the information from the Uneamed Revenue account in the General Ledger and from the Timeline of Uneamed Revenue chart to complete the Uneamed Revenue "T Account Analysis form . Based on your 'T Account Analysis, record the May 31 Uneamed Revenue adjusting entry in the General Journal and post the adjusting entry to the General Ledger accounts Requirement 5 On May 31, Lenny's starts and completes a special mowing job for a golf course. The agreed upon price for the mowing job is $3.500. Given the late completion time of the job on May 31, the mowing job was not invoiced in the month of May. Record in the General Joumal the adjusting entry related to this unbilled job, and post the adjusting entry to the General Ledger accounts. Focu a Chapter 08 Additional Problems (Compatibility Mode] Review View inces Mailings AaRCod AaBbCcDc AnebCcDd AaBBCD Emphanie Huding Normal Strong ABODE Subare Chapter 8 Additional Problems -- SOLID FOOTING Problem 8-6 Lenny's May Accounting Period (continued) Requirement 6 Some ending account balances have already been calculated for you in the General Ledger. For those accounts that do not contain ending balances, compute the required ending balances Requirement 7 Prepare a Pre-Closing Trial Balance Requirement 8 Compare your solutions for Requirements 3-Lenny's Lawn Service workbook. through 6 FOCUS AaRbCoDai Aa BbCcDc AabCcDc ABCEDA Handling 1 Strong Debit Cre Date May 01 Account Truck Rental Expense Pay May Truck Rental Mey 20 Cash Accounts Receivable Collect cash from prop. mot. co on the act May 31 Wages Expense 22.500 Pay wages for May 1 to 31 29,000 Accounts Receivable Service Revenue Invoice prop. mgt.co.for May servit 29,000 Depreciation adjustment for May Adjust supplies to May 31 on hand bal Adjust Unearned Rev to May 31 amount AR for unbilled golf course job AaBb CcDadi AaBbCcDc AaBbccDd Chapter 8 Additional Problems - SOLID FOOTING Problem 8-6 Forms (continued) Pre-Closing Trial Balance Ferences Mailings Review View Aalb Cebu AaBbCcDc AaBbCcDd AB Cend Aa Bbc Emehess Heading 1 Normal Streng Sube Assets General Ledger Llabilities Owners' Equity Wages Payable Commen De Beg Balance Beg Balance May 20 May 31 Ending Bal Retained Beg Balance 54.550 Beg Balance Current Bal. Service Beg Balance May 31 May 31 May 31 Ending Bal Beg Balance 1 May 31 Ending Bal Ending Bal. De Equipment C May 01 500 Ending Bal 4 8.000 Accumulated Depreciation Wages Esense Di C Di Balance Balance 31 ding B 2 2.500 2 2.500 Depreciation Beg Balance Eng Focus nces Mailings Review View AaBb CcDd AaBbCcDc AabbCcDd Streng SO Emphasis Heading 1 Chapter 8 Additional Problems -- SOLID FOOTING Problem 8-6 Forms (continued) "T" Account Analysis for Asset and Liability Accounts Account Name Supplies (asser account) Debit Credit (1) What is the current balance? (3) What adjustment is required to adjust from the current balance to the should be balance? (2) What should be the balance? Timeline Showing the Amount of Unearned Revenue on April 1 and on May 31 April 1 A pril 30 May 31 June 30 July 31 "T" Account Analysis for Asset and Liability Accounts Account Name Unearned Revenue Debit Credit (1) What is the current balance ? (3) What adjustment is required to adjust from the current balance to the should be balance? (2) What should be the balance? Focus