wiye5555hotmaConnect XC On May 15 DeShawn Tyler v httpsnew

wiye5555@hotmaConnect XC On May 15, DeShawn Tyler + v ? https://newconnect mheducation com/flow/connect.html Ex C Homework Help Save& Exit Su Check my wor For each transaction, () analyze the transaction using the accounting equation, (2) record the transaction in journal entry T-accounts to represent ledger accounts. Use the following (partial) chart of count numbers in parentheses: Cash (101), Accounts Receivable (106) Office Supplies (124) Trucks (153) Equipment (167), Landscaping Revenue (403), Wages Expense (601), and Landscaping Ex Accounts Payable (201); Unearned Landscaping Revenue (236), Common Stock (307); Dividends (319); a. On May 15, DeShawn Tyler opens a landscaping company called Elegant La wns by investing $86,000 in cast: along with equipment having a $46,000 value in exchange for common stock. b. On May 21, Elegant Lawns purchases office supplies on credit for $600 c. On May 25, Elegant Lawns receives $9,400 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $2,600 cash in advance of providing landscaping services to a customer nt int Complete this question by entering your answers in the tabs below. Genera ournal T accounts For each of the above transactions, record the transaction in journal entry form. Use the following (partial) chart of

Solution

Answer 1. Assets = Libilities + Equity a.    132,000.00 =                 -   +    132,000.00 b.            600.00 =       600.00 +                     -   c.        9,400.00 =                 -   +        9,400.00 d.        2,600.00 =    2,600.00 +                     -   Answer 2. Journal Entry Date Particulars Dr. Amt. Cr. Amt. 15-May Cash    86,000.00 Equipment    46,000.00    Common Stock    132,000.00 (To record the issue of common stock) 21-May Office Supplies          600.00    Accounts Payable            600.00 (To record purchase of office supplies) 25-May Cash      9,400.00    Landscapping Revenue        9,400.00 (To record the landscapping revenues) 30-May Cash      2,600.00    Unearned Landscapping Revenues        2,600.00 (To record the landscapping revenues recd in advance) Answer 3. Cash Office Supplies Beg. Bal.                     -   Beg. Bal.                -   15-May      86,000.00 21-May      600.00 25-May        9,400.00 30-May        2,600.00 End. Bal.      98,000.00 End. Bal.      600.00 Equipment Accounts Payable Beg. Bal.                     -   Beg. Bal.                     -   15-May      46,000.00            600.00 21-May End. Bal.      46,000.00 End. Bal.            600.00 Unearned Landscpping Revenue Common Stock Beg. Bal.                 -   Beg. Bal.                     -      2,600.00 30-May    132,000.00 15-May End. Bal.    2,600.00 End. Bal.    132,000.00 Landscpping Revenue Beg. Bal.                 -      9,400.00 25-May End. Bal.    9,400.00