I need help with my Accounting cycle project solid footing 14e. The instructions are above, I'm can't balance and I can't figure out where I did it wrong in my journal.

Excel for Mac: 365, 2019, or 20 - Click File - Click Save As - In Save As: enter LastNameFire - Format must be Excel Macro-E - Before clicking Save, be sure the on your Mac Desktop, and not to - Click Save As you work on your project, be sure to save your file often. Instructions: You will be recording the July 2021 transactions for Lenny's Lawn Service, Inc. After recording the July transactions you will be preparing a Pre-Closing Trial Balance, Income Statement, Statement of Stockholders' Equity, Balance Sheet, and Post-Closing Trial Balance You are given the following: July 2021 transactions and Additional Information - Trans tab - Chart of Accounts with Account Numbers and Account Names - Chart Accts tab General Joumal pages - Journal tab - General Ledger -- GL Assets, GL Liab-Equity. GL. Rev-Exp tabs Forms for the July 31, 2021: Pre-Closing Trial Balance (Trial Bal tab). Income Statement and Calculation of Retained Eamings (IS & RE tab). Balance Sheet (BalSht tab), and Post-Closing Trial Balance (Post Close TB tab) To Complete Your Workbook do the following: - Print the July Transactions (click the Trans tab and then click the Printer Icon) USE YOUR Transaction sheets - do not use another student's sheets Print the Chart of Accounts (click the Chart Acots tab and then click the Printer Icon) Record the July transactions in the General Joumal. Click the Journal tab and record your entries directly into the General Joumal. Look at the July 1 Notes Payable transaction, which has already been entered for an example of how to make your entries. Do not put the "X" in the Posted column at this time. Use the printed Chart of Accounts as a reference source for the Account Numbers and Account Names that are available in Lenny's accounting system. To make posting from the General Joumal to the General Ledger easier, it is recommended that you print the General Joumal - click the Journal tab and then click the Printer Icon. Post the entries from the printed General Joumal to the General Ledger accounts. Click the GL Assets, GL Liab-Equity, and GL Rev-Exp tabs to find the accounts to be posted Record your postings directly into the General Ledger. As you post an amount to an account be sure to enter the General Joumal Page # into the Journal Page #column. See the first posting to the Cash account for an example. After you post an amount to a General Ledger account, then hand write an "X" in the Posted column of the printed General Joumal. This will help you keep track of which entries you have posted. Enter the "X"s, which you hand wrote on your General Joumal pages, into the General Joumal. Click the Journal tab and enter the "X's in the Posted column Steps 1 and 2 In the Accounting Cycle Step 1 For each business transaction that occurs during the accounting period, determine the effect of the transaction on the General Ledger accounts Step 2 Make an entry in the General Journal for each transaction and post the entry to the General Ledger accounts Pg. 2 - Determine the required adjusting entries as of July 31, 2021. The information needed for the adjusting entries is on the page titled "Additional Information". This is the second page that printed when you printed the Trans tab. Click the Journal tab and record your adjusting entries in the General Joumal. Use the printed Chart of Accounts as a reference source for the Account Numbers and Account Names that are available in Lenny's ar nunting system Putour adiusting entries on Page 4 of the General Journal Directions Trans Chart Accts Journal Step 3 in the Accounting Cycle At the end of the accounting period, before preparing the financial statements, determine beiden GL Liab-Equity GL Assets Determine the required adjusting entries as of July 31, 2021. The information needed for the adjusting entries is on the page titled "Additional Information. This is the second page that printed when you printed the Trans tab. Click the Journal tab and record your adjusting entries in the General Joumal. Use the printed Chart of Accounts as a reference source for the Account Numbers and Account Names that are available in Lenny's accounting system. Put your adjusting entries on Page #4 of the General Journal. Step 3 in the Accounting Cycle At the end of the accounting period, before preparing the financial statements, determine if any of the General Ledger account balances need to be adjusted. Enter any required adjusting entries into the General Journal and post the dusting entries to the General Ledger accounts Post the adjusting entries from the General Joumal to the General Ledger accounts. Click the GL Assets, GL Liab-Equity, and GL Rev-Exp tabs to find the accounts to be posted. As you post an amount to an account be sure to enter the General Joumal Page # into the Journal Page #column. After you post an amount to a General Ledger account, click back on the Journal tab and enter an "Xin the Posted column of the General Joumal. Print Lenny's General Ledger by clicking the GL Assets tab and then clicking the Printer icon, clicking the GL Liab-Equity tab and then clicking the Printer icon, and clicking the GL Rev-Exp tab and then clicking the Printer icon. - Using the printed General Ledger, enter the ending account balances into the July 31, 2021 Pre-Closing Trial Balance. Click the Trial Bal tab and enter the amounts into the Pre-Closing Tral Balance. Print the July 31, 2021 Pre-Closing Trial Balance by clicking the Printer icon Step 4 in the Accounting Cycle Prepare a Pro-Closing Trial Balance to determine that the accounts in the General Ledger are in balance Using the printed July 31, 2021 Pro-Closing Tral Balance, prepare the July 2021 Income Statement. Click the IS & RE tab and enter the amounts into the Income Statement Step 5 in the Accounting Cycle Prepare an Income Statement from the ending balances in the General Ledger revenue and exponse accounts Step 6 in the Accounting Cycle Calculate the ending balance of the Retained Esmings account that is needed for the preparation of the Balance Shoot Using the printed General Ledger and the Not Income amount, prepare the July 2021 Statement of Stockholders' Equity. Click the IS & RE tab and enter the amounts into the Statement of Stockholders' Equity Using the printed July 31, 2021 Pro-Closing Trial Balance and the Retained Eamings amount from the Statement of Stockholders' Equity, prepare the July 31, 2021 Balance Sheet. Click the Balsht tab and enter the amounts into the Balance Sheet. Step 7 in the Accounting Cycle Prepare the Balance Sheet from the ending balances in the General Ledger asset accounts. lability accounts, Common Stock account, and the calculated anding balance for the Retained Eamings account Prepare the closing entries. Click the Journal tab and enter the closing entries into the General Joumal. Place your closing entries on Page #5 of the General Journal. Post the closing entries from the General Joumal to the General Ledger accounts. Click the Gillab-Fauity and Gl Rox-Exoths to find the accounts to be nosted Directions Trans Chart Accts Journal Step 8 in the Accounting Cycle Prepare and enter the revenue and expense closing entries into the General aumalando con GL Liab-Equity GL Assets GL Statement of Stockholders' Equity. Click the IS & RE tab and enter the amounts into the Statement of Stockholders' Equity of the Retained Eamings account that is needed for the preparation of the Balance Shoot Using the printed July 31, 2021 Pre-Closing Trial Balance and the Retained Earings amount from the Statement of Stockholders' Equity, prepare the July 31, 2021 Balance Sheet. Click the Balsht tab and enter the amounts into the Balance Sheet. Step 7 in the Accounting Cycle Prepare the Balance Sheet from the ending balances in the General Ledger asset accounts, Hability accounts, Common Stock account, and the calculated ending balance for the Retained Eamings account Step 8 in the Accounting Cycle Prepare and enter the revenus and expense closing entries into the General Joumal and post the closing ontries to the General Ledger accounts - Prepare the closing entries. Click the Journal tab and enter the closing entries into the General Joumal. Place your closing entries on Page #5 of the General Journal. Post the closing entries from the General Joumal to the General Ledger accounts. Click the GL Liab-Equity, and GL Rev-Exp tabs to find the accounts to be posted. As you post an amount to an account be sure to enter the General Joumal Page #into the Journal Page #column. After you post an amount to a General Ledger account, click back on the Journal tab and enter an "X' in the Posted column of the General Joumal. Click the Post Close T8 tab and prepare the July 31, 2021 Post-Closing Trial Balance. Step 9 in the Accounting Cycle Prepare a Post-Closing Trial Balance to determine that the accounts in the General Ledger are in balance and ready to start a new Accounting Cycle Your project is completel Your instructor will provide you with directions on how to submit your project. Date 7 Lenny's Lawn Service, Inc. - Transactions - Additional Information July 2021 Transactions Description of the Transaction July 1 Borrow $35,000.00 from 1st Bank by signing a 24 month note. (As an example of how to joumalize and post a transaction this transaction has already been entered Into the General Joumal and posted to the General Ledger) July 1 Receive $76,700.00 cash from new inwestors, and issue $76,700.00 df Common Stock to them. July 1 Purchase $59,700.00 new mowing equipment, paying cash to the mower dealer. July 1 Pay $500.00 cash for the July truck rental. July 3 Invoice a new customer $5,805.00 for a completed mowing job -- customer will pay in 10 days. July 5 The Board of Directors declares a cash dividend. The total amount of the dividend is $30,000.00 The Date of Record is set as July 15. The Date of Payment is set as July 31. July 7 Pay the employees $5,900.00 for work performed during the 1st week of July. July 10 Complete a mowing job for a new customer -- customer pays 54.250.00 cash for the job July 12 Collect $3,500.00 cash from the golf course for special rush mowing job completed on May 31, July 14 Pay the employees 57.100.00 for work performed during the 2nd week of July. July 15 Purchase $1.825.00 of supplies from the mower dealer. The supplies are consumed immediately Lenny's will pay the mower dealer for the supplies in about 2 weeks. July 15 Collect $8,805.00 on account. The cash that is received is from the new customer for the job that was completed on July 3. July 17 One of the original mowers purchased in January of 2020 broke down and is repaired by the mower dealer. The cost of the Mower Repair job is $920.00. Lenny's will pay the mower dealer in 30 days. July 19 Purchase for cash $26,950.00 of supplies. These supplies will be consumed over the next 12 months July 20 Collect $30,000.00 from the property management company for work performed in June. July 21 Pay the employees $7,500.00 for work performed during the 3rd week of July. July 23 Receive a $26,775.00 advance payment from the university. The advance payment is for 6 months of work which will be performed from August 1, 2021 to January 31, 2022. July 25 Complete a special mowing job for the golf course. The total price for the mowing job is $5,900.00 The golf course pays $1,000.00 cash on this date and will pay the remainder on August 25. July 27 Complete a mowing job for a new customer -- customer pays $3,725.00 cash for the job. July 27 Pay $1.825.00 cash to the mower dealer for the supplies purchased on accourt on July 15. July 28 Pay the employees $6,890.00 for work performed during the 4th week of July. July 31 Invoice the property management company $24,000.00 for July mowing work. The property management company will pay the invoice on the 20th of next month. July 31 Pay the cash dividend which was declared on July 5. DOOOOD Additional Information Equipment: The 548,000.00 beginning balance in the Equipment account relates to the mowing equipment which was purchased on January 2, 2020. For information related to this mowing equipment see Page 70 in the Solid Footing text (PDF 07 - Intro to Adjusting Entries). This equipment continues to be used and should be depreciated for the month of July. The following information relates to the new equipment which was purchased on July 1, 2021 The new equipment was placed into service on July 1, 2021 and should be depreciated for the month of July. The estimated useful life of the new equipment is 5 years. At the end of 5 years, the new equipment will have no future value and will be scrapped. - The new equipment will be depreciated using the straight-line method. Supplies: At the end of July there are $28,080.00 supplies on-hand. Mowing Service at the University: The monthly mowing service was provided to the university per the contract signed on April 1, 2021. For information on the contract with the university and the related advance payment, see Pages 95 and 98 in the Solid Footing text (PDF 08 - Adjusting Entries Continued) Wages Due the Employees: The last wage payment was made to the employees on July 28, 2021. The employees worked on July 29, 30, and 31. For these three days of work the employees earned $2,295.00 of wages. These three days of wages will be paid to the workers during the first week of August. Bank Loan: The interest on the loan from 1st Bank will be paid every three months. The first interest payment to the bank will be made on September 30, 2021. Lenny's calls the bank on July 31 and the bank indicates that the interest on the loan for July is $810.00. Lenny's Lawn Service, Inc. - Chart of Accounts Account # Account Name 100 105 110 150 155 200 205 210 215 220 250 Assets: Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Liabilities: Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Equity: Common Stock Retained Earnings Revenues: Service Revenue Expenses: Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense 300 305 400 500 505 510 515 520 550 Lenny's Lawn Service, Inc. General Journal Page # 1 2021 Month-Day Posted Debit Credit 7-1 Account Number 100 250 Account Name Cash Notes Payable Borrowed on Note Payable 35,000.00 35,000.00 7-1 100 300 76,700.00 Cash common stock XX 76,700.00 7-1 150 100 Equipment Cash Purchase of equipment X X 59,700.00 59,700.00 7-1 500.00 515 100 Truck Rental Expense Cash Pay rental of truck XX X 500.00 7-3 105 6,805.00 X X Account receivable Service revenue Invoce of service 400 6,805.00 7-5 220 305 Divident payable Retain earnings Pay divident X X 30,000.00 30,000.00 7-7 210 100 X X 5,900.00 Wages Expenses cash Pay to employees 7-7 5,900.00 7-10 400 100 Revenue Service Cash Revenue in cash X X 4,250.00 4,250.00 7-12 105 100 Accoun receivable Cash Get pay from the golf course in cash XX 3,500.00 3,500.00 Lenny's Lawn Service, Inc. - General Journal Page #2 Posted Debit 2021 Month-Day 7-14 Credit Account Number 510 Account Name Wages expense Cash Pay wages 7,100.00 100 7,100.00 7-15 110 250 Suplies Notes Payable buy suplies and pay later 1,825.00 X X 1,825.00 7-15 105 400 6,805.00 Account receivable Service revenue Got pay in account job X X 6,805.00 7-17 920.00 200 505 Account payable Mower Repair expense pay to fix mower X X X X 920.00 7-19 110 100 Suplies Cash Buy suplies X 26.950.00 26,950.00 7-20 105 400 Accoun Receivable Service Revenue got pay for service 30,000.00 X X 30,000.00 7-21 Wages expense cash Pay to employees 7,500.00 XX 7,500.00 7-23 26,775.00 215 100 Unearned revenue Cash Pay in advance X X 26,775.00 7-25 105 100 400 accounts receivable Cash Service revenue 4,900.00 1,000.00 5,900.00 Lenny's Lawn Service, Inc. - General Journal Page 3 Posted Debit Credit 2021 Month-Day 7-27 Account Number 400 100 Account Name Service revenue Cash got pay for service 3,725.00 3,725.00 7-27 110 500 suplies suplies expense Pay the suplies X X 1.825.00 1,825.00 7-31 105 400 Account receivable Service revenue invoice a service X X 24,000.00 24,000.00 7-31 100 220 Cash divideds payable X X 30,000.00 30,000.00 7-31 Depreciation expences Accumulated Depriciation Depreciation X X 1,000.00 1,000.00 7-31 Depreciation expences Accumulated Depriciation X X 995.00 995.00 7-31 500 Suplies expenses Suplies X X 3,245.00 3,245.00 7-31 Unearn Revenue Service revenue X X X X 8,000.00 8,000.00 7-31 Wages expense Wages Payable X X 2,295.00 2.295.00 7-31 Interest expense Interest payable XX 810.00 810.00 Lenny's Lawn Service, Inc. - General Journal Page #14 2021 Month-Day Account Number Account Name Posted Debit Credit 7-31 89,485.00 Service Revenue retain earnings closing 89,485.00 5,540.00 Retain Earnings suplies expenses closing expenses 5,540.00 7-28 510 Wages expense Cash 6,890.00 100 6,890.00 Lenny's Lawn Service, Inc. General Ledger Account # 100 Cash Journal Page 8 Debit Credit Balance 2021 Month-Day 7-1 7-1 Beginning Balance 1 38,250.00 35,000.00 76,700.00 1 1 59,700.00 500.00 4,250.00 3,500.00 7-1 7-1 7-1 7-10 7-12 7-14 7-19 7-7 7-21 7-23 7-25 1 1 1 2 2 1 2 2 2 3 3 7,100.00 26,950.00 5,900.00 7,500.00 38,250.00 Dr 73,250.00 Dr 149,950.00 Dr 90,250.00 Dr 89,750.00 Dr 94,000.00 Dr 97,500.00 Dr 90,400.00 Dr 63,450.00 DI 57,550.00 Dr 50,050.00 Dr 76,825.00 Dr 77,825.00 Dr 81,550.00 Dr 51,550.00 Dr 44,660.00 Dr GONN 26,775.00 1,000.00 3,725.00 7-27 30,000.00 6,890.00 Account # 105 Accounts Receivable Journal Page 3 Credit Balance Debit 33,500.00 6,805.00 2021 Month-Day 7-1 Beginning Balance 7-1 7-12 7-15 7-20 7-25 7-31 3,500.00 1 1 2 2 2 3 NNN 6,805.00 30,000.00 4,900.00 24,000.00 33,500.00 Dr 40,305.00 Dr 36,805.00 Dr 43,610.00 Dr 73,610.00 Dr 78,510.00 Dr 102,510.00 Dr Account # 110 Supplies Journal Page# Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance NN 2 2 4,375.00 1,825.00 26,950.00 4,375.00 Dr 6,200.00 Dr 33,150.00 Dr 7-19 7-32 3 3 3,245.00 29,905.00 Dr Account # 150 Equipment Journal Page # Credit 2021 Month-Day 7-1 7-1 Beginning Balance Debit 48,000.00 59,700.00 Balance 48,000.00 Dr 107,700.00 Dr 1 Account # 155 Accumulated Depreciation Journal Page # Debit Balance 2021 Month-Day 7-1 7-31 7-31 Beginning Balance Credit 18,000.00 1,000.00 995.00 3 18,000.00 Cr 19,000.00 Cr 19,995.00 Cr 13 Account # 200 Accounts Payable Journal Page 8 Debit Credit Balance 2021 Month-Day 7-1 Beginning Balance 7-17 0.00 920.00! 0.00|Cr 920.00 Cr 2 Account # 205 Wages Payable Journal Page Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 0.00 2,295.00 0.00 C 2,295.00 Cr 7-31 4 Account # 210 Interest Payable Journal Page Debit Credit Balance 2021 Month-Day 7-1 7-31 Beginning Balance 0.00 810.00 0.00 Cr 810.00 Cr 3 Account # 215 Unearned Revenue Journal Page 3 Debit Credit Balance 2021 Month-Day 7-1 7-23 7-31 Beginning Balance 8,000.00 26,775.00 2 8,000.00 Cr 34,775.00 Cr 26.775.00 Cr 8,000.00 Account # 220 Dividends Payable Journal Debit Credit Balance 2021 Month-Day 7-1 Page 1 Beginning Balance 0.00 30,000.00 7-1 1 3 0.00 30,000.00 CP 0.00 CE 30,000.00 Account # 250 Note Payable Journal Page # Debit Credit Balance 2021 Month-Day 7-1 7-1 7-15 Beginning Balance 1 0.00 35,000.00 1,825.00 0.00 Cr 35,000.00 Cr 36,825.00 Cr 2 Account # 300 Common Stock 2021 Month-Day 7-1 Journal Page# Debit Beginning Balance Credit 50,000.00 76,700.00 Balance 50,000.00 Cr 126,700.00 Cr 7-1 1 Account # 305 Retained Earnings Journal Page # Debit Credit 2021 Month-Day 7-1 7-5 Beginning Balance 48,125.00 Balance 48,125.00 Cr 18,125.00 Cr 1 30,000.00 Account # 400 Service Revenue 2021 Joumal Page Debit Credit Balance Month-Day 7-1 Beginning Balance 1 7-1 7-10 1 7-15 NN- 7-20 7-27 0.00 6,805.00 4,250.00 6,805.00 30,000.00 3,725.00 24,000.00 8,000.00 5,900.00 0.00 Cr 6,805.00 Cr 11,055.00 Cr 17,860.00 Cr 47,860.00 Cr 51,585.00 Cr 75,585.00 Cr 83,585.00 CI 89,485.00 Cr 7-31 7-25 A 60 3 3 Account # 500 Supplies Expense Jouma Page Debit Credit 2021 Month-Day 7-1 7-31 7-31 Beginning Balance 3 0.00 3,245.00 2,295.00 Balance 0.00 Dr 3,245.00 Dr 5,540.00 Dr 3,715.00 Dr 3 1.825.00 Account 505 Mower Repair Expense 2021 Joumal Page 8 Debit Credit Balance Month-Day 7-1 7-17 Beginning Balance 0.00 920.00 0.00 Dr 920.00 Dr 2 Account # 510 Wages Expense Joumal Pages Credit Balance Beginning Balance 1 2021 Month-Day 7-1 7-7 7-14 7-10 7-31 7-28 2 2 3 Debit 0.00 5,900.00 7,100.00 7,500.00 2,295.00 6,890.00 0.00 Dr 5,900.00 Dr 13,000.00 Dr 20,500.00 Dr 22,795.00 Dr 29,685.00 Dr 4 Account # 515 Truck Rental Expense Joumal Page # Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 0.00 500.00 0.00 Dr 500.00 Dr 1 Account # 520 Depreciation Expense Journal Page # Debit Credit 2021 Month-Day 7-1 7-31 7-31 Beginning Balance Balance 0.00 Dr 1,000.00 Dr 1,995.00 Dr 0.00 1,000.00 995.00 3 3 Account # 550 Interest Expense Joumal Page # Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 0.00 810.00 0.00 Dr 810.00 Dr Lenny's - July 31, 2021 Pre-Closing Trial Balance Account # Credit Debit 44,660.00 102,510.00 29,905.00 107,700.00 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Account Name Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Common Stock Retained Earnings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 19,995.00 920.00 2,295.00 810.00 26,775.00 0.00 36,825.00 126,700.00 18,125.00 89,485.00 3,715.00 920.00 29,685.00 500.00 1,995.00 810.00 322,400.00 321,930.00 CAUTION Enter amounts into the Financial Statements by typing in the amounts Do NOT copy cells from the General Ledger or Pre-Closing Trial Balance Lenny's Lawn Service, Inc. Income Statement for the Month Ended July 31, 2021 Service Revenue $89,485.00 Operating Expenses Supplies Expense (5.540.00) Mower Repair Expense (920.00) Wages Expense (22,795,00) Truck Rental Expense (500.00) Depreciation Expense (1,995.00) Total Operating Expenses (31,750.00) Income from Operations 57.735.00 Interest Expense (810.00) Net Income (Loss) $86,825.00 Note the new line item on Lenny's Income Statement Income from Operations. This is Lenny's income from the normal operations of the lawn mowing business Interest Expense, which is not a cost of operating the business but rather a cost of financing the business, is shown below Income from Operations. Interest Expense is subtracted from Income from Operations to arrive at Net Income Lenny's Lawn Service, Inc. Statement of Stockholders' Equity for the Month Ended July 31, 2021 This is the first time you have prepared a formal Statement of Stockholders' Equity for Lenny's. This statement shows what caused the change in Common Stock and in Retained Earings from July 1, 2021 to July 31, 2021. Note that the Retained Earnings column on the statement looks different than the calculation you have been doing each month to determine the Retained Earnings amount needed for the Balance Sheet. Beginning Balance is the starting amount. In previous Retained Eamings calculations, you used Current Balance as the starting amount. Beginning Balance is the starting point for this calculation, because Dividends is shown as a line item (a deduction) in the Retained Earings column. The Ending Balance in the Retained Earnings column is the balance needed for the Balance Sheet. Common Stock $50,000.00 76,700.00 Beginning Balance July 1, 2021 Issue Common Stock Net Income (Loss) Dividends Ending Balance July 31, 2021 Retained Eamings Total $48,125.00 - $98,125.00 76,700.00 56,925.00 56,925.00 (30,000.00) (30,000,00) $75,050.00 $201.750.00 $126,700.00 Lenny's Lawn Service, Inc. Balance Sheet as of July 31, 2021 CAUTION Enter amounts into the Balance Sheet by typing in the amounts. Do NOT copy cells from the General Ledger or Pre-Closing Trial Balance Assets Current Assets Cash $52,300.00 Accounts Receivable 101,760.00 Supplies 28,080.00 Total Current Assets 182,140.00 Property & Equipment Equipment 107,700.00 Accumulated Depreciation (19,995.00) Property & Equipment, net 87,705.00 Total Assets $269,845.00 Liabilities & Stockholders' Equity Current Liabilities: Accounts Payable $920.00 Wages Payable 2,295.00 Interest Payable 810.00 Uneamed Revenue 26,775.00 Total Current Liabilities 30,800.00 Long-Term Liabilities: Note Payable 36,825.00 Total Liabilities 67,625.00 Stockholders' Equity Common Stock 126,700.00 Retained Earnings 18.125.00 Total Stockholders' Equity 144,825.00 Total Liabilities & Stockholders' Equity S212,450.00 Note the following three new sub-totals appearing on Lenny's Balance Sheet: Total Current Assets is a total of those assets, which will turn into cash during the next 12 months or be consumed during the next 12 months. The comparison of Total Current Assets to Total Current Liabilities gives some indication of Lenny's liquidity - that is, its ability to pay its bills in the short-term Property & Equipment, net is the amount of Fixed Asset cost, which remains to be depreciated in future accounting periods. Total Current Liabilities is a total of those liabilities that will require payment in the next 12 months. In the case of Uneamed Revenue, this current liability will be paid-off by Lenny's delivering mowing services to the university Cosar Mendez Portilo Lenny's - July 31, 2021 Post-Closing Trial Balance Account # Debit Credit CAUTION Enter amounts into the Post-Closing Trial Balance by typing in the amounts. Do NOT copy cells from the General Ledger 100 105 110 150 155 200 205 210 215 220 250 300 305 400 500 505 510 515 520 550 Account Name Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Uneamed Revenue Dividends Payable Note Payable Common Stock Retained Earnings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 75,050.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 75,050.00