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#6 Please answer quickly and clearly, I will be sure to give a thumbs up if done soon! Thanks! For each transaction, (1) analyze the
#6
Please answer quickly and clearly, I will be sure to give a thumbs up if done soon! Thanks!
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); D. Tyler, Capital (301); D. Tyler, Withdrawals (302); 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 $76,000 in cash along with equipment having a $36,000 value. b. On May 21, Elegant Lawns purchases office supplies on credit for $400. c. On May 25 , Elegant Lawns receives $8,400 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $1,600 cash in advance of providing landscaping services to a customer. Complete this question by entering your answers in the tabs below. For each of the above transaction, analyze the transaction using the accounting equation. Note: Enter total amounts only. 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); D. Tyler, Capital (301); D. Tyler, Withdrawals (302); 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 $76,000 in cash along with equipment having a $36,000 value. ant Lawns value. B On May 21, Elegant Lawns purchases office supplies on credit for $400. C On May 25, Elegant Lawns receives $8,400 cash for performing landscaping services. Credit D On May 30, Elegant Lawns receives $1,600 cash in advance of providing landscaping services to a customer. Note : = journal entry has been entered ost the entry using T-accounts to represent ledger accounts. side date selection. For left side T-account entries you must use a left side date selectionStep by Step Solution
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