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3 years ago

For each transaction:

Business

1 answer:

Molodets [167]3 years ago

6 0

Answer:

I prepared an excel spreadsheet to show how these transactions affect the accounting equation:

a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $75,000 in cash along with equipment having a $35,000 value.

Dr Cash (101) 75,000

Dr Equipment (167) 35,000

Cr D. Tyler, Capital (301) 110,000

b. On May 21, Elegant Lawns purchases office supplies on credit for $380.

Dr Office Supplies (124) 380

Cr Accounts Payable (201) 380

c. On May 25, Elegant Lawns receives $8,300 cash for performing landscaping services.

Dr Cash (101) 8,300

Cr Landscaping Revenue (403) 8,300

d. On May 30, Elegant Lawns receives $1,500 cash in advance of providing landscaping services to a customer.

Dr Cash (101) 1,500

Cr Unearned Landscaping Revenue (236) 1,500

Cash (101) Equipment (167)

debit credit debit credit

75,000 35,000

8,300

84,800

Office Supplies (124) Accounts Payable (201)

debit credit debit credit

380 380

Landscaping Revenue (403) Unearned Landscaping Revenue (236)

debit credit debit credit

8,300 1,500

D. Tyler, Capital (301)

debit credit

110,000

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Answer:

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