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 $81,000 in cash along with equipmer having a $41,000 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 $8,900 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $2,100 cash in advance of providing landscaping services to a customer. Complete this question by entering your answers in the tabs below. General Journal T accounts Analyze For each of the above transaction, analyze the transaction using the accounting equation. (Enter total amounts only.) Assets Liabilities Equity %24 122,000 %24 ol+ a. b. C. d.
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 $81,000 in cash along with equipmer having a $41,000 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 $8,900 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $2,100 cash in advance of providing landscaping services to a customer. Complete this question by entering your answers in the tabs below. General Journal T accounts Analyze For each of the above transaction, analyze the transaction using the accounting equation. (Enter total amounts only.) Assets Liabilities Equity %24 122,000 %24 ol+ a. b. C. d.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 $81,000 in cash along with equipment
having a $41,000 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 $8,900 cash for performing landscaping services.
d. On May 30, Elegant Lawns receives $2,100 cash in advance of providing landscaping services to a customer.
Complete this question by entering your answers in the tabs below.
Analyze
General
Journal
T accounts
For each of the above transaction, analyze the transaction using the accounting equation. (Enter total amounts only.)
Assets
Liabilities
Equity
122,000 =
%24
a.
b.
C.
%3D
d.
Analy
General Journal>
Transcribed Image Text:For each of the above transaction, record the transaction in journal entry form. 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).
Show less a
View transaction list
Journal entry worksheet
C D
A
B
On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns
by investing $81,000 in cash along with equipment having a $41,000 value in
exchange for common stock.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
May 15
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