Wild River Tours Co. is a travel agency. The nine transactions recorded by Wild River Tours during
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Wild River Tours Co. is a travel agency. The nine transactions recorded by Wild River Tours during May 2012, its first month of operations, are indicated in the following T accounts:
Indicate for each debit and each credit:
(a) Whether an asset, liability, capital stock, dividend, revenue, or expense account was affected and
(b) Whether the account was increased (+) or decreased (-). Present your answers in the following form, with transaction (1) given as anexample:
Transcribed Image Text:
Cash Equipment Dividends (1) 25,000 (2) (7) 10,000 (3) (4) 1,750 (3) 18,000 3,600 2,700 7,500 2,500 2,500 Accounts Receivable Accounts Payable Service Revenue (5) 13,500 (7) 10,000 6) 7,500(3 14,400 (5) 13,500 Supplies 1,750 (8) Capital Stock Operating Expenses 1,050 2,700 1,050 (1) 25,000 (4) Account Debited Account Credited Transaction Type asset Type Effect Tpe Effect capital stock
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