For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and 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); 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 Taccounts

For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and 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); 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 Taccounts

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 4EB: From the following list, identify which items are considered original sources: A. accounts...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

A-5

For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and
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);
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
a.
For each of the above transaction, analyze the transaction using the accounting equation.
Note: Enter total amounts only.
b.
no
General
Journal
C.
d.
Taccounts
Assets
= Liabilities +
+
+
Equity

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