For each transaction 1 analyze the transaction using the accounting equation 2 record the transaction in journal entry form and

Question

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 a General Journal For each of the above transaction analyze the transaction using the accounting equation Note Enter total amounts only b Assets T accounts Liabilities Equity

Kunduz · Accepted Answer

Click to see the answer