a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $85,000...
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a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $85,000 in cash along with equipment having a $45,000 value. b. On May 21, Elegant Lawns purchases office supplies on credit for $580. c. On May 25, Elegant Lawns receives $9,300 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $2,500 cash in advance of providing landscaping services to a customer. 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); D. Tyler, Capital (301); D. Tyler, Withdrawals (302); Landscaping Revenue (403); Wages Expense (601), and Landscaping Expense (696). General Analyze T accounts Journal For each of the above transaction, analyze the transaction using the accounting equation. (Enter total amounts only.) Assets Liabilities Equity 이 + $ 580 + $ $ 130,000 =$ 130,000 а. b. $ 580 = $ 9,300 = $ 0] + C. d. 2,500 = $ 2,500 + $ No Date General Journal Debit Credit May 15 Cash 85,000 D. Tyler, Capital 85,000 Equipment 45,000 D. Tyler, Capital 45,000 2 May 21 Office supplies 580 Accounts payable 580 3 May 25 Cash 9,300 Landscaping revenue 9,300 4 May 30 Cash 2,500 Unearned landscaping revenue 2,500 Cash 101 Office Supplies 124 May 15 May 25 May 30 85,000 9,300 May 21 580 2,500 End. bal. 96,800 End. bal. 580 Equipment 167 Accounts Payable 201 May 15 45,000 580 May 21 End. bal. 45,000 End. bal. 580 Unearned Landscaping Revenue 236 D. Tyler, Capital 301 85,000 May 15 45,000 May 15 2,500 May 30 End. bal. 2,500 End. bal. 130,000 Landscaping Revenue 403 9,300 May 25 End. bal. 9,300 a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $85,000 in cash along with equipment having a $45,000 value. b. On May 21, Elegant Lawns purchases office supplies on credit for $580. c. On May 25, Elegant Lawns receives $9,300 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $2,500 cash in advance of providing landscaping services to a customer. 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); D. Tyler, Capital (301); D. Tyler, Withdrawals (302); Landscaping Revenue (403); Wages Expense (601), and Landscaping Expense (696). General Analyze T accounts Journal For each of the above transaction, analyze the transaction using the accounting equation. (Enter total amounts only.) Assets Liabilities Equity 이 + $ 580 + $ $ 130,000 =$ 130,000 а. b. $ 580 = $ 9,300 = $ 0] + C. d. 2,500 = $ 2,500 + $ No Date General Journal Debit Credit May 15 Cash 85,000 D. Tyler, Capital 85,000 Equipment 45,000 D. Tyler, Capital 45,000 2 May 21 Office supplies 580 Accounts payable 580 3 May 25 Cash 9,300 Landscaping revenue 9,300 4 May 30 Cash 2,500 Unearned landscaping revenue 2,500 Cash 101 Office Supplies 124 May 15 May 25 May 30 85,000 9,300 May 21 580 2,500 End. bal. 96,800 End. bal. 580 Equipment 167 Accounts Payable 201 May 15 45,000 580 May 21 End. bal. 45,000 End. bal. 580 Unearned Landscaping Revenue 236 D. Tyler, Capital 301 85,000 May 15 45,000 May 15 2,500 May 30 End. bal. 2,500 End. bal. 130,000 Landscaping Revenue 403 9,300 May 25 End. bal. 9,300
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Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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