Date Ending balance Date Ending balance Date Ending balance Date Amount Amount Cash 101 Date Amount Equipment 167 Date Unearned Landscaping Revenue 236 Amount Date Landscaping Revenue 403 Date Amount Amount Amount Amount Date Ending balance Date Ending balance Date Ending balance Office Supplies 124 Date Amount Accounts Payable 201 Date Amount Common Stock 307 Date Amount Amount Amount Amount
Date Ending balance Date Ending balance Date Ending balance Date Amount Amount Cash 101 Date Amount Equipment 167 Date Unearned Landscaping Revenue 236 Amount Date Landscaping Revenue 403 Date Amount Amount Amount Amount Date Ending balance Date Ending balance Date Ending balance Office Supplies 124 Date Amount Accounts Payable 201 Date Amount Common Stock 307 Date Amount Amount Amount Amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Date
Ending balance
Date
Ending balance
Date
Ending balance
Date
Ending balance
Amount
Amount
Cash 101
Date
Amount
Equipment 167
Date
Unearned Landscaping Revenue 236
Amount
Date
Landscaping Revenue 403
Date
Amount
Amount
Amount
Amount
Date
Ending balance
Date
Ending balance
Date
Ending balance
Office Supplies 124
Date
Amount
Accounts Payable 201
Date
Amount
Common Stock 307
Date
Amount
Amount
Amount
Amount
Transcribed Image Text:For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and (3)
post the entry using T-accounts to represent ledger accounts. Use the following partial chart of accounts-account numbers in
parentheses: Cash (101); Accounts Receivable (106); Office Supplies (124); Trucks (153); Equipment (167); Accounts Payable (201);
Unearned Landscaping Revenue (236); Common Stock (307); Dividends (319); Landscaping Revenue (403); Wages Expense (601); and
Landscaping Expense (696).
a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $82,000 in cash along with equipment
having a $42,000 value in exchange for common stock.
b. On May 21, Elegant Lawns purchases office supplies on credit for $520.
c. On May 25, Elegant Lawns receives $9,000 cash for performing landscaping services.
d. On May 30, Elegant Lawns receives $2,200 cash in advance of providing landscaping services to a customer.
Expert Solution
Step 1
Cash 101
| Date | Amount | Date | Amount |
| 15 May | 82000 | ||
| 25 May | 9000 | ||
| 30 May | 2200 | Ending Balance | 19200 |
Equipment 162
| Date | Amount | Date | Amount |
| 15 May | 42000 | Ending Balance | 42000 |
Unearned Landscaping Revenue 236
| Date | Amount | Date | Amount |
| Ending Balance | 2200 | 30 May | 2200 |
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