The trial balance columns of the worksheet for Lenny Company at June 30, 2019, are as follows. Lenny Company Worksheet June 30, 2019 Adjusted Trial Balance Income Statement Trial Balance Adjustments DR Balance Sheet Account Title Cash DR CR CR DR CR DR CR DR CR 2,200 Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Notes Payable Common Stock Service Revenue Rent Expense Supplies Expense Wage Expense Interest Expense 2,900 2,050 1,300 300 2,000 3,200 2,100 550 1,200 Total Net Income Total

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Instructions:
Complete the worksheet using the Other Data list below.
Other data:


1. A physical count reveals $440 of supplies on hand.
2. The unearned revenue was collected on June 1 and will be earned over the 4 months starting June 1
3. The 6-month note payable was signed June 1 and bears an annual interest rate of 12%.
4. Lenny has recognized $600 of revenue on account (which has not yet been recorded)

Exercise 5
The trial balance columns of the worksheet for Lenny Company at June 30, 2019, are as follows.
Lenny Company
Worksheet
June 30, 2019
Adjusted Trial
Balance
Income
Trial Balance Adjustments
Statement
Balance Sheet
Account Title
DR
CR
DR
CR
DR
CR
DR
CR
DR
CR
Cash
2,200
Accounts Receivable
2,900
Supplies
Accounts Payable
2,050
1,300
Unearned Service Revenue
300
Notes Payable
2,000
Common Stock
3,200
Service Revenue
Rent Expense
Supplies Expense
Wage Expense
Interest Expense
2,100
550
1,200
Total
Net Income
Total
Transcribed Image Text:Exercise 5 The trial balance columns of the worksheet for Lenny Company at June 30, 2019, are as follows. Lenny Company Worksheet June 30, 2019 Adjusted Trial Balance Income Trial Balance Adjustments Statement Balance Sheet Account Title DR CR DR CR DR CR DR CR DR CR Cash 2,200 Accounts Receivable 2,900 Supplies Accounts Payable 2,050 1,300 Unearned Service Revenue 300 Notes Payable 2,000 Common Stock 3,200 Service Revenue Rent Expense Supplies Expense Wage Expense Interest Expense 2,100 550 1,200 Total Net Income Total
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