National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during
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National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during May 2019, its first month of operations, are indicated in the following T accounts:
Cash | Equipment | Beth Worley, Drawing | |||||
---|---|---|---|---|---|---|---|
(1) 75,000 | (2) 900 | (3) 8,000 | (9) 2,500 | ||||
(7) 8,150 | (3) 1,600 | ||||||
(4) 6,280 | |||||||
(6) 2,700 | |||||||
(9) 2,500 |
Accounts Receivable | Accounts Payable | Fees Earned | |||||
---|---|---|---|---|---|---|---|
(5) 12,300 | (7) 8,150 | (6) 2,700 | (3) 6,400 | (5) 12,300 | |||
Supplies | Beth Worley, Capital | Operating Expenses | |||||
---|---|---|---|---|---|---|---|
(2) 900 | (8) 660 | (1) 75,000 | (4) 6,280 | ||||
(8) 660 |
a. Prepare an unadjusted trial balance, listing the accounts in their proper order. Place the amounts in the proper columns. If an entry is not required in an amount box, leave it blank.
National Park Tours Co. | ||
Unadjusted Trial Balance | ||
May 31, 2019 | ||
Debit Balances | Credit Balances | |
b. Based upon the unadjusted trial balance, determine the net income or net loss.
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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