Question

7 QS 2-6 Analyzing transactions and preparing Journal entries LO P1 For each transaction. ( 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) Unoamed Landscaping Revenue (236; D. Tyler. Capital (3011; D. Tyler, Withdrawals (302; Landscaping Revenue (403); Wages Expense 1601. and Landscaping Expense (696). a. On May 15. De Shawn Tyler opens a landscaping company called Elegant Lawns by Investing $7.000 in cash along with equipment having a $3,000 value. 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 30, Elegant Lawns receives $1.000 cash in advance of providing landscaping services to 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 a. b. + d. + General Journal >

Answer 1

Assets nobiusies lt/Equity. a) 10000 10000 0. + 5000 SOO 0 4.000 4000 + 1000 02 1000 Journal entrices cash ALL 18 $7000 $ 3000 No 07 a) 15/ may Equipment $19000 To Diyles caphul ale (Being mo Deshaw tylee opens a laadsceepe company cared elegand lawors by invessing $7000 in cash along equipment of $3000) goun DB | c) 25/may cash AL Do 6) 21/may office supplies AC $500 9o Account suyable All $500 Being office supplies purchased for credit of $500) $4000 no hand scorgin Revenue ALC 54000 ceeling $4ooo received tol peabaewing landscaping services). To, uncanned Landscaping Revenue de slovo- Ceding $1000 recelled in advance tal providing Lundscape services to a customed), d) 30/May 1000 coush Pole .

Lodgees CASH ACC (101) DO с Гер pode реле шоп 0 0 + Посило с 4 ѕѕ hаѕ tо p1a.а се нао ме паро. 25 / way to Landscaping povence 4000, Alc зсіма ho unearned sound sceepin- 1000. Igeevenue Arc 30 May By balance eld (Baltig). 12 000 12 000 12 ООО o8 Equipment Acc. (167) puericulous 4 Dade 15 May 10 oryles capital pole Da passiculo Зооо. 3olmey By balance and Срц • fa). доор Зоро роо D6 Dame 3 ф Похо Зооо. от своя горла. А съо peg47 0.95 $ Dade pesticulares IS — Baa 9 салхи Ate. is - Како ви емярллаh tе 30 may to balance eld (Baltig). 19ooo об office supplies NC (124) Dode pasticuleels $ code particulars 1[рлаа 10 м сосил рашада Ас | socs 10,000 10 ООО e- 30lway By balance elde (Baltige soo соо SOO D0 Dede bede Accocent peycable ALL (201) passiceless. $ Daericuless zinaway By Account payouble е 21 May By office supplies ALL. по Росица 4 (Baltig. . S000 soo golia soo

СТ wwé sceeping sevenue Ale (403) Rasfeclas & puericulares as may By cash ALL Sodo oode $ 4000 to balance cld (Bartig. 4000 4000 400D cuiescued landscaping severie Ale (230) pasculous pasius 30/may By cash ALL & Dode $ 1000 70 salaria ad locul figo LOOO