EX 2-13 Identifying transactions Napa Tours Co. is a travel agency. The nine transactions recorded by Napa Tours during April 2018, its first month of operations, are indicated in the following T accounts: оb, 1, 2 Cash Equipment Dividends (1) 50,000 (2) 3,400 (3) 15,000 (9) 1,000 (7) 8,700 (3) 5,000 (4) 4,850 (6) 2,500 (9) 1,000 Accounts Payable 2,500 (3) Accounts Receivable Service Revenue (5) 18,200 (7) 8,700 (6) 10,000 (5) 18,200 Supplies Common Stock Operating Expenses (2) 3,400 (8) 1,100 (1) 50,000 (4) 4,850 (8) 1,100 Indicate for each debit and each credit: (A) whether an asset, liability, stockholders' equity, dividend, revenue, or expense account was affected and (B) whether the account was increased (+) or decreased (-). Present your answers in the following form, with transaction (1) given as an example: Account Debited Account Credited Transaction Туре Effect Туре stockholders' equity Effect (1) asset +

EX 2-13 Identifying transactions Napa Tours Co. is a travel agency. The nine transactions recorded by Napa Tours during April 2018, its first month of operations, are indicated in the following T accounts: оb, 1, 2 Cash Equipment Dividends (1) 50,000 (2) 3,400 (3) 15,000 (9) 1,000 (7) 8,700 (3) 5,000 (4) 4,850 (6) 2,500 (9) 1,000 Accounts Payable 2,500 (3) Accounts Receivable Service Revenue (5) 18,200 (7) 8,700 (6) 10,000 (5) 18,200 Supplies Common Stock Operating Expenses (2) 3,400 (8) 1,100 (1) 50,000 (4) 4,850 (8) 1,100 Indicate for each debit and each credit: (A) whether an asset, liability, stockholders' equity, dividend, revenue, or expense account was affected and (B) whether the account was increased (+) or decreased (-). Present your answers in the following form, with transaction (1) given as an example: Account Debited Account Credited Transaction Туре Effect Туре stockholders' equity Effect (1) asset +

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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