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1 For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and (3) post the
1 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 Complete this question by entering your answers in the tabs below. Mc Graw Ha Analyze General Journal T accounts For each of the above transaction, analyze the transaction using the accounting equation. (Enter total amounts only.) Assets 4 b d Liabilities Equity Prev 1 of 20 Next > C 8 2:44
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