For each transaction, (1) analyze the transaction using tha accounting equation, (2)record the transaction in journal entry form and (3)post the entry using T accounts to represent ledger accounts. Use the partial chart of accounts - account numbers in parentheses: cash(101); Acct receivable (106); Office supplies (124); Trucs (153); Equipment (167) Acct payable (201);unearned landscaping revenue (236); common stock (307); Dividends (319); Wages expenses (601) and landscaping expense(696). a. On May 15 Taylor opens a landscaping company called Elegant Lawns by investing $84,000 in cash along with Equipment having a $44,000 value in exchange for common stock. b. On May 21, Elegant Lawns purchases Office supplies on credit for $560. c. On May 25. Elegant Lawns recives $9,200 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $2,400 cash in advance of providing landscaping services to a customer.
For each transaction, (1) analyze the transaction using tha
a. On May 15 Taylor opens a landscaping company called Elegant Lawns by investing $84,000 in cash along with Equipment having a $44,000 value in exchange for common stock.
b. On May 21, Elegant Lawns purchases Office supplies on credit for $560.
c. On May 25. Elegant Lawns recives $9,200 cash for performing landscaping services.
d. On May 30, Elegant Lawns receives $2,400 cash in advance of providing landscaping services to a customer.
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