Business, 29.06.2021 18:30, alexis0430

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 $84,000 in cash along with equipment having a $44,000 value in exchange for common stock.
On May 21, Elegant Lawns purchases office supplies on credit for $560.
On May 25, Elegant Lawns receives $9,200 cash for performing landscaping services.
On May 30, Elegant Lawns receives $2,400 cash in advance of providing landscaping services to a customer.
For each transaction above, analyze the transaction using the accounting equation.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 10:50, dbhuggybearow6jng

Melissa is a very generous single woman. before this year, she had given over $11,400,000 in taxable gifts over the years and has completely exhausted her applicable credit amount. in the current year, melissa gave her daughter riley $100,000 and promptly filed her gift tax return. melissa did not make any other gifts this year. how much gift tax must riley pay the irs because of this transaction?

Answers: 2

continue

Business, 22.06.2019 19:20, IrieBoy7584

Why is following an unrelated diversification strategy especially advantageous in an emerging economy? a. it allows the conglomerate to overcome institutional weaknesses in emerging economies. b. it allows the conglomerate to form a monopoly in emerging economies. c. it allows the conglomerate to use well-defined legal systems in emerging economies. d. it allows the conglomerate to take advantage of strong capital markets in emerging economies.

Answers: 1

continue

Business, 22.06.2019 19:30, alejandra340

Adisadvantage of corporations is that shareholders have to pay on profits.

Answers: 1

continue

Business, 22.06.2019 20:40, chelsea73

Owns a machine that can produce two specialized products. production time for product tlx is two units per hour and for product mtv is four units per hour. the machine’s capacity is 2,100 hours per year. both products are sold to a single customer who has agreed to buy all of the company’s output up to a maximum of 3,570 units of product tlx and 1,610 units of product mtv. selling prices and variable costs per unit to produce the products follow. product tlx product mtv selling price per unit $ 11.50 $ 6.90 variable costs per unit 3.45 4.14 determine the company's most profitable sales mix and the contribution margin that results from that sales mix.

Answers: 3

continue

Do you know the correct answer?

For each transaction, (1) analyze the transaction using the accounting equation, (2) record the tran...