Emerald Tours Co. is a travel agency. The nine transactions recorded by Emerald Tours during May 20Y5, its first month of operations, are indicated in the following T accounts: Cash 5/1 45,000 5/2 2,500 5/11 7,700 5/3 4,800 5/5 4,600 5/9 5,300 5/25 3,400 Equipment 5/3 13,900 Mary Silva, Drawing 5/25 3,400 Accounts Receivable 5/8 12,400 5/11 7,700 Accounts Payable 5/9 5,300 5/3 9,100 Fees Earned 5/8 12,400 Supplies 5/2 2,500 5/15 1,400 Mary Silva, Capital 5/1 45,000 Operating Expenses 5/5 4,600 5/15 1,400 Based upon the T accounts provided, prepare the nine journal entries from which the postings were made. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered
Emerald Tours Co. is a travel agency. The nine transactions recorded by Emerald Tours during May 20Y5, its first month of operations, are indicated in the following T accounts: Cash 5/1 45,000 5/2 2,500 5/11 7,700 5/3 4,800 5/5 4,600 5/9 5,300 5/25 3,400 Equipment 5/3 13,900 Mary Silva, Drawing 5/25 3,400 Accounts Receivable 5/8 12,400 5/11 7,700 Accounts Payable 5/9 5,300 5/3 9,100 Fees Earned 5/8 12,400 Supplies 5/2 2,500 5/15 1,400 Mary Silva, Capital 5/1 45,000 Operating Expenses 5/5 4,600 5/15 1,400 Based upon the T accounts provided, prepare the nine journal entries from which the postings were made. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
Emerald Tours Co. is a travel agency. The nine transactions recorded by Emerald Tours during May 20Y5, its first month of operations, are indicated in the following T accounts:
| Cash | |||
| 5/1 | 45,000 | 5/2 | 2,500 |
| 5/11 | 7,700 | 5/3 | 4,800 |
| 5/5 | 4,600 | ||
| 5/9 | 5,300 | ||
| 5/25 | 3,400 |
| Equipment | |||
| 5/3 | 13,900 |
| Mary Silva, Drawing | |||
| 5/25 | 3,400 |
| Accounts Receivable | |||
| 5/8 | 12,400 | 5/11 | 7,700 |
| Accounts Payable | |||
| 5/9 | 5,300 | 5/3 | 9,100 |
| Fees Earned | |||
| 5/8 | 12,400 |
| Supplies | |||
| 5/2 | 2,500 | 5/15 | 1,400 |
| Mary Silva, Capital | |||
| 5/1 | 45,000 |
| Operating Expenses | |||
| 5/5 | 4,600 | ||
| 5/15 | 1,400 |
Based upon the T accounts provided, prepare the nine journal entries from which the postings were made. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education