Wyoming Tours Co. is a travel agency. The nine transactions recorded by Wyoming Tours during June 2016,
Question:
Indicate for each debit and each credit:
(a) Whether an asset, liability, stockholders' equity, dividend, revenue, or expense account was affected
(b) Whether the account was increased (+) or decreased (-). Present your answers in the following form, with transaction (1) given as an example:
Transcribed Image Text:
Cash Equipment Dividends (1) 40,000 (2) (7) 8,700(3) 2,500 (3 14,500 4,000 4,850 5,500 3,000 (9) 3,000 6 Accounts Receivable Accounts Payable Service Revenue (5) 13,800 (7) 8,700 (6) 5,500(3) 10,500 13,800 Operating Expenses Supplies (2) 2,500 (8) Common Stock 40,000 (4) 4,850 (8) 1,100 1,100 Account Credited Account Debited Effect Type Effect Transaction Type asset stockholdesequity +
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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