Question
Check m For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and (3) post
Check m 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 $87,000 in cash along with equipment having a $47,000 value in exchange for common stock. b. On May 21, Elegant Lawns purchases office supplies on credit for $620. c. On May 25, Elegant Lawns receives $9,500 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $2,700 cash in advance of providing landscaping services to a customer. Complete this question by entering your answers in the tabs below. Analyze General Journal T accounts For each of the above transaction, analyze the transaction using the accounting equation. (Enter total amounts only.) Assets = Liabilities + Equity a. $ 134,000 = $ 0+ $ 134,000 b. C. EA 620 = $ 620+ $ 0 = + $ 9,500 d. $ 2,700 = 2,700+ EA 5,400
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