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PLEASE HELP!!!! For each transaction (1) analyze the transaction using the accounting equation. (2) record the transaction in journal entry form, and (3) post the
PLEASE HELP!!!!
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 $90,000 in cash along with equipment having a $50,000 value in exchange for common stock b. On May 21, Elegant Lawns purchases office supplies on credit for $680. c. On May 25, Elegant Lawns receives $9,800 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $3,000 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. 11 + + + b. c. ++ d. 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); Common Stock (307); Dividends (319); Landscaping Revenue (403); Wages Expense (601), and Landscaping Expense (696). Show less View transaction list Journal entry worksheet 1 2 3 4 > On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $90,000 in cash along with equipment having a $50,000 value in exchange for common stock. Note: Enter debits before credits General Journal Debit Credit Dato May 15 Journal entry worksheet On May 25, Elegant Lawns receives $9,800 cash for performing landscaping services. 25 Note: Enter debits before credits. Date General Journal Debit Credit May 25 Record entry Clear entry View general journal Journal entry worksheet On May 30, Elegant Lawns receives $3,000 cash in advance of providing landscaping services to a customer. Note; Enter debits before credits. Goneral Journal Date May 30 Dobit Credit Record entry Clear entry View general Journal Cash 101 Date Office Supplies 124 Amount Dato Date Amount Amount Date Amount End, bal End, bal Equipment 167 Amount Dato Accounts Payable 201 Amount Date Date Amount Dato Amount End, bal End, bal. Unearned Landscaping Revenue 236 Amount Date Amount Common Stock 307 Amount Date Date Date Amount End, bal End, bal Landscaping Revenue 403 Amount Date Dato Amount End, bal Step by Step Solution
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