Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from which the postings
Question:
Data from Exercise 2-13:
Southwest Tours Co. is a travel agency. The nine transactions recorded by Southwest Tours during May 2012, its first month of operations, are indicated in the following T accounts:
Transcribed Image Text:
Cash Dividends Equipment 18,000 (9) (1) 40,000 (2) 10,000 (3) 2,000 (3) 4,000 (7) 3,600 (4) 2,700 (6) 9,000 (9) 4,000 Accounts Receivable 18,500 (7) Accounts Payable Service Revenue (5) (5) 10,000 (6) 9,000 (3) 14,400 18,500 Supplies 2,000 (8) Capital Stock Operating Expenses (2) 1,050 (1) 40,000 (4) 2,700 (8) 1,050
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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