QS 2-6 Analyzlng transactlons and preparing Journal entrles LO P1 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 $78.000 in cash along with equipment having a $38,000 value in exchange for common stock. b. On May 21, Elegant Lawns purchases office supplies on credit for $440. c. On May 25. Elegant Lawns receives $8,600 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $1,800 cash in advance of providing landscaping services to a customer. 8 Answer is not complete. Complete this question by entering your answers in the tabs below. General Joumal T accounts Analyze Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must use a right side date selection. For left side T- account entries you must use a left side date selection.) Cash 101 Office Supplies 124 Date Amount Date Amount Date Amount Date Amount May 15 May 25 78.000 O May 21 440 O 8,600 O May 30 1,800 O End bal. 88,400 End. bal. 440 Eqaipment 167 Accounts Payable 201 Date Amount O Date Amount Date Amount Date Amount May 15 38,000 May 21 440 End. bal. 38.000 End. bal 440 Unearned Landscaping Revenue 236 Common Stock 307 Date Amount Date Amount Date Amount Date Amount
QS 2-6 Analyzlng transactlons and preparing Journal entrles LO P1 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 $78.000 in cash along with equipment having a $38,000 value in exchange for common stock. b. On May 21, Elegant Lawns purchases office supplies on credit for $440. c. On May 25. Elegant Lawns receives $8,600 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $1,800 cash in advance of providing landscaping services to a customer. 8 Answer is not complete. Complete this question by entering your answers in the tabs below. General Joumal T accounts Analyze Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must use a right side date selection. For left side T- account entries you must use a left side date selection.) Cash 101 Office Supplies 124 Date Amount Date Amount Date Amount Date Amount May 15 May 25 78.000 O May 21 440 O 8,600 O May 30 1,800 O End bal. 88,400 End. bal. 440 Eqaipment 167 Accounts Payable 201 Date Amount O Date Amount Date Amount Date Amount May 15 38,000 May 21 440 End. bal. 38.000 End. bal 440 Unearned Landscaping Revenue 236 Common Stock 307 Date Amount Date Amount Date Amount Date Amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please help and make it very clear thank you
Transcribed Image Text:X Answer is not complete.
25
ints
Complete this question by entering your answers in the tabs below.
General
Joumal
Analyze
accounts
Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must use a right side date selection. For left side T-
account entries you must use a left side date selection.)
Cash 101
Office Supplies 124
Date
Amount
Date
Amount
Date
Amount
Date
Amount
78,000 O
May 15
May 25
May 21
440 O
8,600 O
May 30
1.800 O
End. bal.
88.400
End. bal.
440
Equipment 167
Accounts Payable 201
Date
Amount
Date
Amount
Date
Amount
Date
Amount
May 15
38,000 O
May 21
440 8
End. bal.
38,000
End. bal.
440
Unearned Landscaping Revenue 236
Common Stock 307
Date
Amount
Date
Amount
Date
Amount
Date
Amount
May 30
1,200 X
May 15
116,000 8
End. bal.
End. bal.
116,000
1,800
Landscaping Revenue 403
Date
Amount
Date
Amount
May 25
8,600 O
End. bal
8,600
< General Journal
Taccounts
Transcribed Image Text:QS 2-6 Analyzlng transactlons and preparing Journal entrles LO P1
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 $78.000 in cash along with equipment
having a $38,000 value in exchange for common stock.
b. On May 21. Elegant Lawns purchases office supplies on credit for $440.
c. On May 25, Elegant Lawns receives $8,600 cash for performing landscaping services.
d. On May 30, Elegant Lawns receives $1,800 cash in advance of providing landscaping services to a customer.
X Answer is not complete.
Complete this question by entering your answers in the tabs below.
Analyze
General
Joumal
T accounts
Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must use a right side date selection. For left side T-
account entries you must use a left side date selection.)
Cash 101
Office Supplies 124
Date
Amount
Date
Amount
Date
Amount
Date
Amount
May 15
78,000 O
May 21
440 O
May 25
May 30
8,600 O
1,800
End bal.
88,400
End. bal.
440
Equipment 167
Accounts Payable 201
Date
Amount
Date
Amount
Date
Amount
Date
Amount
May 15
38,000 O
May 21
440 8
End. bal.
38,000
End. bal.
440
Unearned Landscaping Revenue 236
Common Stock 307
Date
ay 30
Amount
Date
Amount
Date
Amount
Date
Amount
1800 3
May 15
110 000
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