Answer:
A)
Assets + 74,000 cash + 34,000 equipment
Equity + 108,000 common stock
journal entry:
cash 74,000 debit
equipment 34,000 debit
common stock 108,000 credit
B)
Assets + 360 supplies
Liabilities +360 account payable
journal entry:
supplies 360 debit
account payable 360 credit
C)
Assets +8,200 cash
Equity +8,200 landscaping revenue
journal entry:
cash 8,200 debit
landscaping revenue 8,200 credit
D)
Assets + 1,400 cash
Liabilities +1,400 Unearned Landscaping Revenue
journal entry:
cash 1,400 debit
Unearned Landscaping Revenue 1,400 credit
T_ accounts
cash
debit credit
A 74,000
C 8,200
D 1,400
Total 83,600
equipment
debit credit
A 34,000
common stock
debit credit
A 108,000
supplies
debit credit
B 360
account payable
debit credit
B 360
landscaping revenue
debit credit
C 8,200
Unearned Landscaping Revenue
debit credit
D 1,400
Explanation:
The T-accounts were made at the end to represen thte effect of all transactiosn combined.
Mostly self-explanatory
Some considerations:
the payment fro mthe customer in advance is considered a liability. That's because now, the company has the obligation to do the landscaping services. The customer can force the company to make them as they are already paid. Second, as accounting works with an accrued basis the job is not done thus, not accrued and we cannot consider this a realized revenue
