Question

Lenny' s Lawn Service. Inc. Income Statement for the Month Ended July 31, 2019.

Account # 100 Cash Journal Page # Credit Balance Beginning Balance 2019 Month-Day 7-1 7-1 7-1 7-1 Debit 38,250.00 35,000.00 78,850.00 7-1 43,500.00 500.00 6,000.00 7-7 7-10 7-12 7-14 6,500.00 3,500.00 7,500.00 7-15 2,585.000 38,250.00 Dr 73,250.00 Dr 152,100.00 Dr 108,600.00 Dr 108,100.00 Dr 102,100.00 Dr 108,600.00 Dr 112,100.00 Dr 104,600.00 Dr 107,185.00 Dr 86,185.00 Dr 116,185.00 Dr 109,335.00 Dr 137,835.00 Dr 138,335.00 Dr 142, 135.00 Dr 140,955.00 Dr 135,655.00 Dr 113,155.00 Dr 21,000.00 7-19 7-20 30,000.00 6,850.00 2 7-21 7-23 7-25 7-27 7-27 7-28 7-31 28,500.00 500.00 3,800.00 1,180.00 5,300.00 22,500.00 Account # 105 Accounts Receivable Journal Page # Debit Credit 2019 Month-Day 7-1 Balance Beginning Balance 33,500.00 2,585.00 7-3 7-12 7-15 7-20 7-25 7-31 3,500.00 2,585.00 30,000.00 33,500.00 Dr 36,085.00 Dr 32,585.00 Dr 30,000.00 Dr 0.00 Dr 3,000.00 Dr 21,800.00 Dr 3,000.00 18,800.00

Answer 1

statement of stockholders equity
	common stock	retained earning	total
beginning balance july 1 2019	50000	48125	98125
issue common stock	78850		78850
net income		3235	3235
dividend		-22500	-22500
Ending balance July 31 2019	128850	28860	157710
Balance Sheet
Current Assets
cash	113155
A/R	21800
Supplies	25875
total of current liabilities		160830
property and equipment
equipment	91500
accumulated depreciation	-19225
property and equipment net		72275
total Assets		233105
Liabilities and stockholders equity
Current liabilities
A/P	665
Wages payable	2475
interest payable	755
unearned revenue	36500
total of current liabilities		40395
long term liabilities
notes payable		35000
total liabilities		75395
stockholders equity
common stock	128850
retained earnings	28860
total stockholders equity		157710
total of liabilities and shareholders equity		233105