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Points: 0 of 1 1 7 . Using the information provided, analyze the effects of Lawlor Lawn Service's transactions on the accounting equation. ( 2

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Points: 0 of 1
17. Using the information provided, analyze the effects of Lawlor Lawn Service's transactions on the accounting equation.
(2)(Click the icon to view the transactions.)
Analyze the events chronologically, one transaction at a time beginning with the May 1 transaction. For each transaction that follows the May 1 st transaction, calculate the balance in each account after analyzing its effect on the accounting equation. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviation used: Contr. = Contributed; Liab. = Liabilities.)
ASSETS =
= LIAB. + EQUITYb
ar( Cash + Accounts + Equipment )?b=ar( Accounts )+bar( Lawlor, - Lawlor, + Service - Gas )
51
Receivable
Payable Capital
Withdrawals
+
+
+
Expense
Revenue
Expense
More info
May 1 Received $1,700 and gave capital to Eric Lawlor.
May 3 Purchased a mower on account, $1,440.
May 5 Performed lawn services for client on account, $200.
May 17 Paid $60 cash for gas used in mower.
May 28 Eric Lawlor withdrew cash of $300.
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