a.yes g.

yes

b. h.yes

c. i.yes

d.

e.

f.yes

Classify each of the following accounts as an Asset, Liability, or Equity account.

a.asset g.asset

b. h.

c. i.asset

d.asset

e.

f.liability

Identify the normal balance (debit or credit) for each of the following accounts.
Identify whether a debit or credit results in the indicated change for each of the following accounts.

Determine the ending balance of each of the following T-accounts.

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); D. Tyler, Capital (301); D. Tyler, Withdrawals (302);
Landscaping Revenue (403); Wages Expense (601), and Landscaping Expense (696).

a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by
investing $85,000 in cash along with equipment having a $45,000 value.
b. On May 21, Elegant Lawns purchases office supplies on credit for $580.
c. On May 25, Elegant Lawns receives $9,300 cash for performing landscaping services.
d. On May 30, Elegant Lawns receives $2,500 cash in advance of providing landscaping
services to a customer.

Assets = Liabilities + Equity

+85,000 +85,000
Cash, as owner’s
the money capital as
invested in investments
the were given
company to the
was given company
in cash
+45,000 +580 +45,000
equipment On credit revenue as
value as the the
company equipment
would has a value
still pay that the
this company
money can benefit
later from if sell
it
+580 in +9300 in
supplies as revenue as
these the
supplies company
have a performed
value a service
and will
earn money
in return
+9300 +2500 in
cash for revenue as
performing this money
a certain is taken in
business by the
company
+2500
cash in
advance of
performing
a certain
business