Wyoming Tours Co. is a travel agency. The nine transactions recorded by Wyoming
ID: 2606056 • Letter: W
Question
Wyoming Tours Co. is a travel agency. The nine transactions recorded by Wyoming Tours during June 2016, its first month of operations, are indicated in the following T accounts:
Unadjusted Trial Balance
A. Prepare an unadjusted trial balance, listing the accounts in their proper order.
Wyoming Tours Co.
UNADJUSTED TRIAL BALANCE
June 30, 2016
1
Cash
2
Accounts Receivable
3
Supplies
4
Equipment
5
Accounts Payable
6
Lorene Jones, Capital
7
Lorene Jones, Drawing
8
Service Revenue
9
Operating Expenses
10
Totals
Final Question
B. Based upon the unadjusted trial balance, determine the net income or net loss.
Cash (1) 33,000 (2) 2,500 (7) 8,900 (3) 4,800 (4) 4,900 (6) 5,600 (9) 3,100Explanation / Answer
Answer
ACCOUNT TITLE
DEBIT
CREDIT
Cash
21000
Accounts Receivable
3300
Supplies
1000
Equipment
14800
Accounts Payable
4400
Lorene Jones, Capital
33000
Lorene Jones, Drawing
3100
Service Revenue
12200
Operating Expenses
6400
Totals
49600
49600
Income Statement
Service revenue
12200
Operating expenses
6400
Net Income
5800
ACCOUNT TITLE
DEBIT
CREDIT
Cash
21000
Accounts Receivable
3300
Supplies
1000
Equipment
14800
Accounts Payable
4400
Lorene Jones, Capital
33000
Lorene Jones, Drawing
3100
Service Revenue
12200
Operating Expenses
6400
Totals
49600
49600
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