Item$5$

$17\mathrm{.}85$

points

Time Remaining $2$ hours $9$ minutes $9$ seconds $02$:$09$:$09$

eBook Hint References Check my work Check My Work button is now enabled Item $5$

Time Remaining $2$ hours $9$ minutes $9$ seconds $02$:$09$:$09$

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 $(696).$

On May $15,$ DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $$71,000$ in cash along with equipment having a $$31,000$ value in exchange for common stock.

On May $21,$ Elegant Lawns purchases office supplies on credit for $$300.$

On May $25,$ Elegant Lawns receives $$7,900$ cash for performing landscaping services.

On May $30,$ Elegant Lawns receives $$1,100$ cash in advance of providing landscaping services to a customer.