Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Analyze General Journal Taccounts Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must use a right side

image text in transcribed
image text in transcribed
Analyze General Journal Taccounts 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 s account entries you must use a left side date selection.) Cash 101 Date Date Office Supplies 124 Amount Date Amount Amount Dato Amount End, bal End, bal Equipment 167 Amount Date Accounts Payable 201 Amount Date Date Amount Date Amount End, bal End, bal Unearned Landscaping Revenue 236 Amount Date Amount Date Common Stock 307 Amount Date Date Amount End, bal End. bal. Check 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. Analyze General Journal Taccounts 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 Date Date Amount Office Supplies 124 Amount Date Amount Date Amount End, bal End, bal Annun 900

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Expert Fraud Investigation A Step By Step Guide

Authors: Tracy Coenen

1st Edition

0470387963, 978-0470387962

More Books

Students also viewed these Accounting questions

Question

Presentations Approaches to Conveying Information

Answered: 1 week ago