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OS 2-8 (Static) Analyzing transactions and preparing journal entries LO A1 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 Drentheses: Cash (101) Accounts Receivable (106): Office Supplies (124) Trucks (153): Equipment (167): Accounts Payable (201): Uneared 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 tandscaping company called Elegant Lawns by investing $7,000 in cash along with equipment having a $3.000 value in exchange for common stock b.On May 21, Begont Lawns purchases office supplies on credit for $500. c. On May 25. Elegant Lawns receives $4,000 cash for performing landscaping services. d. on May 30, Elegant wns receives $1.000 cash in advance of providing landscaping services to a customer Complete this question by entering your answers in the tabs below. can Soal T accounts To the above transaction, analyze the transaction using the accounting equation (Enter total amounts only) Equity b. On May 21, Elegant Lawns purchases office supplies on credit for $500. c. On May 25, Elegant Lawns receives $4,000 cash for performing landscaping services d. On May 307 Elegant Lawns receives $1,000 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 b C. ### d. General Journal > Analyze General Journal Taccounts For each of the above transaction, record the transaction in joumal entry form. Use the following (partial chart of accounts-cunt numbers in parentheses: Cash (101); Accounts Receivable (106): Omice Supplies (124) Trucks (153) Equipment (167) Accounts Payable (201), Uneamed Landscaping Revenue (236); Common Stock (307); Dividends (319); Landscaping Revenge (403); Wages Expense (601) and Landscaping Expense (696) Show less in transaction X > On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $7,000 in cash along with equipment having a $3,000 value in exchange for common stock int Lawns lue in #On May 21, Elegant Lawns purchases office supplies on credit for $500 Credit con May 25. Elegant Lawns receives $4,000 cash for performing landscaping services On May 30, Elegant Lawns receives $1,000 cash in allvance of providing landscaping services to customer Anave General Journal Taccounts Post the entry using T-accounts to represent ledger accounts. (TIP: For right side T-account entries you must en de date selection du account entries you must use a left side date selection) Cash 101 Date De Amount Office Supplies 124 Amount Date Amount Date Am Endingen Ending balance quant 167 Date Accounts Payable 201 Amount Date um Amount Date Amount Enting balance Ending balance uned Landscaping Revenas Amount Date Amount Common Stock 302 Amount Date D Date Amount Equipment 167 Amount Date Accounts Payable 2013 Amount Dal Amount Date Amount Ending balance Ending balance Und Landscaping Revenue 236 Amount Date Amount Common Stock 307 Amount Date Date Amount Ending balance Ending balance Landscaping Revenue 403 Amen Date Amount Enang balance Required information Use the following information for the Quick Studies below. (Static) (The following information applies to the questions displayed below.) Lawson Consulting had the following accounts and amounts on December 31. Cash Accounts receivable Equipment Accounts payable Common stock $ 5,000 Dividends 4,500 Services revenue 6,500 Rent expense 3,000 Wages expense 10,500 $ 1,500 12,000 2,000 6,000 QS 2-15 (Static) Preparing an income statement LO P1 Use the above information to prepare a December income statement for the business. LAWSON CONSULTING Incorge Statement ies-Exercises i Accounts payable Common stock 3,000 wages exper 10,500 QS 2-15 (Static) Preparing an income statemer Use the above information to prepare a December income s LAWSON CONSULTING Income Statement Accounts payable conson stock 3,000 Wages expense 10,500 6,600 QS 2-16 (Static) Preparing a statement of retained earnings LO P1 Use the above information to prepare a December statement of retained earnings for Lawson Consulting. The Retained Earnings account balance at December 1 was $0. Hint Net income for December is $4,000. LAWSON CONSULTING Statement of Retained Earnings