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ID: 2328109 • Letter: C
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ck my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Return to question a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $80,000 in cash along with equipment having a $40,000 value b. On May 21, Elegant Lawns purchases office supplies on credit for $480. c. On May 25, Elegant Lawns receives $8,800 cash for performing landscaping services d. On May 30. Elegant Lawns receives $2,000 cash in advance of providing landscaping services to a customer For each transaction, (0 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 parentheses: Cash (101); Accounts Receivable (106): Office Supplies (124): Trucks (153): Equipment (167), Accounts Payable (201 Unearned Landscaping Revenue (236) D. Tyler. Capital (301), D. Tyler, Withdrawals (302; Landscaping Revenue (403), Wages Expense (601), and Landscaping Expense (696) Answer is not complete. Complete this question by entering your answers in the tabs below. Analyze Journal T accounts For each of the above transaction, analyze the transaction using the accounting equation. (Enter total amounts only.) Assets LiabilitiesEquity 0,000 3 a. S 80,000 ATT515 K Prey 5 of 1 Next>Explanation / Answer
Assets = liabilities + Equity a. 120,000 120,000 b. 480 480 c 8,800 8,800 d. 2,000 2,000 journal Entry Accounting titles & Explanations Debit Credit a. Cash 80,000 Equipment 40,000 Capital account 120,000 b. office supplies 480 Accounts payable 480 c. cash 8,800 Service revenue 8,800 d. cash 2,000 unearned service revenue 2,000
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