Cash 101 Office Supplies 124 May 21 500 May 15 May 25 May 30 7,000 4,000 1,000 End. bal. 12,000 End. bal. 500 Accounts Payable 201 Equipment 167 May 15 3,000 500 500 End. bal. 3,000 End. bal. Common Stock 307 Unearned Landscaping Revenue 236 10,000 1,000 10,000 1,000 End bal. End. bal. Landscaping Revenue 403 4,000 End. bal. 4,000 < Prev 7 of 11 Next > Ea

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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Processing accounting transactions. I have to analyze, record in general journal and post the entry using t accounts. Here is the problem. 

a. on may 15, DeShawn opens a landscaping company called elegant lawns by investing $7,000 in cash along with equipmewnt having a $3,000 value in exchange for common stock.

b. on may 21, elegant lawns purchases office supplies on credit for $500.

c. on may 25, elegant lawns receives $4,000 cash for performing landscaping services.

d. on may 30, elegant lawns recieves $1,000 cash advance of providing landscaping services to a customer.

I attached 3 pictures of my work and it seems to be right but I am missing something. It says my answer is not complete. What am I missing? Please help. Thank you.

Cash 101
Office Supplies 124
May 21
500
May 15
May 25
May 30
7,000
4,000
1,000
End. bal.
12,000
End. bal.
500
Accounts Payable 201
Equipment 167
May 15
3,000
500
500
End. bal.
3,000
End.
bal.
Common Stock 307
Unearned Landscaping Revenue 236
10,000
1,000
10,000
1,000
End bal.
End. bal.
Landscaping Revenue 403
4,000
End. bal.
4,000
< Prev
7 of 11
Next >
Ea
Transcribed Image Text:Cash 101 Office Supplies 124 May 21 500 May 15 May 25 May 30 7,000 4,000 1,000 End. bal. 12,000 End. bal. 500 Accounts Payable 201 Equipment 167 May 15 3,000 500 500 End. bal. 3,000 End. bal. Common Stock 307 Unearned Landscaping Revenue 236 10,000 1,000 10,000 1,000 End bal. End. bal. Landscaping Revenue 403 4,000 End. bal. 4,000 < Prev 7 of 11 Next > Ea
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