Answer :
Answer:
All requirements are solved
Explanation:
In requirement 1 its clearly shown how these transactions are affecting the accounting equation. In requirement 2 all journal entries are posted and in requirement 3 All T - accounts are set.
Requirement 1: Accounting Equation
Event Assets = Liabilities + Equity
a $140,000 $140,000
b $680 $680
c $9,800 $9,800
d $3,000 $3,000.00
Requirement 2: Journal Entries
DEBIT CREDIT
a 15-May (cash and equipment invested in the business)
Cash $90,000
Equipment $50,000
D. Tyler Capital $140,000
b 21-May (To record purchase of office supplies)
Office supplies $680
Accounts payable $680
c 25-May (record landscaping revenue)
Cash $9,800
Landscaping revenue $9,800
d 30-May (To record advance collection against revenue)
Cash $3,000
Unearned Landscaping revenue $3,000
Requirement 3: T accounts
Cash
Date Debit Date Credit
15-May $90,000
25-May $9,800
30-May $3,000
Ending balance $102,800
Equipment
Date Debit Date Credit
15-May $50,000
Ending balance $50,000
Office Supplies
Date Debit Date Credit
21-May $680.00
Ending balance $680.00
Accounts Payable
Date Debit Date Credit
21-May $680.00
Ending balance $680.00
Unearned landscaping revenue
Date Debit Date Credit
30-May $3,000
Ending balance $3,000
D. Tayler Capital
Date Debit Date Credit
15-May $90,000
15-May $50,000
Ending balance $140,000
Landscaping revenue
Date Debit Date Credit
25-May $9,800
Ending balance $9,800