2. Wilson Tours, Incorporated began operations on January 4, 2022. For each of the transactions listed...

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2. Wilson Tours, Incorporated began operations on January 4, 2022. For each of the transactions listed below explain how the transaction affects the specified financial statements. If there is no effect on the statement, write "none" for that statement. (20 points) a) A tour guide completed a river rafting tour with the Dennis family on April 10 2022. The complete tour package sold for $1,600. The family paid for the tour with its American Express credit card. The guide incurred $605 in labor costs and supplies during the tour which will be paid on April 13, 2022. Upon completion of the tour, what are the: Balance Sheet effect(s), Income statement effects(s), and Statement of cash flow effect(s): i) ii) iii) b) On December 10th, the company received $5,000 from a customer for an Alaskan cruise in June 2023. The total cost of the cruise is $35,000 for the family of four. For the fiscal year ended December 31, 2022 what effects does this transaction have on the company's Balance Sheet Income statement effect(s): Cash flow statement effect(s): i) ii) iii) 2. Wilson Tours, Incorporated began operations on January 4, 2022. For each of the transactions listed below explain how the transaction affects the specified financial statements. If there is no effect on the statement, write "none" for that statement. (20 points) a) A tour guide completed a river rafting tour with the Dennis family on April 10 2022. The complete tour package sold for $1,600. The family paid for the tour with its American Express credit card. The guide incurred $605 in labor costs and supplies during the tour which will be paid on April 13, 2022. Upon completion of the tour, what are the: Balance Sheet effect(s), Income statement effects(s), and Statement of cash flow effect(s): i) ii) iii) b) On December 10th, the company received $5,000 from a customer for an Alaskan cruise in June 2023. The total cost of the cruise is $35,000 for the family of four. For the fiscal year ended December 31, 2022 what effects does this transaction have on the company's Balance Sheet Income statement effect(s): Cash flow statement effect(s): i) ii) iii)

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2a i Balance sheet Increase in cash by 1600 increase ... View the full answer