Answer:
1) I used an excel spreadsheet
2) a. 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.
Dr Cash 7,000
Dr Equipment 3,000
Cr DeShawn Tyler, capital 10,000
b. On May 21, Elegant Lawns purchases office supplies on credit for $500.
Dr Office supplies 500
Cr Accounts payable 500
c. On May 25, Elegant Lawns receives $4,000 cash for performing landscaping services.
Dr Cash 4,000
Cr Landscaping Revenue 4,000
d. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer.
Dr Cash 1,000
Cr Unearned Landscaping Revenue 1,000
3)
Cash (101)
debit credit
7,000
4,000
<u>1,000 </u>
12,000
Office Supplies (124)
debit credit
500
Equipment (167)
debit credit
3,000
Accounts Payable (201)
debit credit
500
Unearned Landscaping Revenue (236)
debit credit
1,000
D. Tyler, Capital (301)
debit credit
10,000
Landscaping Revenue (403)
debit credit
4,000
