National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during May 2019, its first month of operations, are indicated in the following T accounts: Cash 5/1 75,000 5/2 900 5/11 8,150 5/3 1,600 5/5 6,280 5/9 2,700 5/25 2,500 Equipment 5/3 8,000 Beth Worley, Drawing 5/25 2,500 Accounts Receivable 5/8 12,300 5/11 8,150 Accounts Payable 5/9 2,700 5/3 6,400 Fees Earned 5/8 12,300 Supplies 5/2 900 5/15 660 Beth Worley, Capital 5/1 75,000 Operating Expenses 5/5 6,280 5/15 660 Based upon the T accounts provided, prepare the nine journal entries from which the postings were made.
National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during May 2019, its first month of operations, are indicated in the following T accounts: Cash 5/1 75,000 5/2 900 5/11 8,150 5/3 1,600 5/5 6,280 5/9 2,700 5/25 2,500 Equipment 5/3 8,000 Beth Worley, Drawing 5/25 2,500 Accounts Receivable 5/8 12,300 5/11 8,150 Accounts Payable 5/9 2,700 5/3 6,400 Fees Earned 5/8 12,300 Supplies 5/2 900 5/15 660 Beth Worley, Capital 5/1 75,000 Operating Expenses 5/5 6,280 5/15 660 Based upon the T accounts provided, prepare the nine journal entries from which the postings were made.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 9RE: Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for...
Related questions
Topic Video
Question
National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during May 2019, its first month of operations, are indicated in the following T accounts:
Cash | |||
5/1 | 75,000 | 5/2 | 900 |
5/11 | 8,150 | 5/3 | 1,600 |
5/5 | 6,280 | ||
5/9 | 2,700 | ||
5/25 | 2,500 |
Equipment | |||
5/3 | 8,000 |
Beth Worley, Drawing | |||
5/25 | 2,500 |
Accounts Receivable | |||
5/8 | 12,300 | 5/11 | 8,150 |
Accounts Payable | |||
5/9 | 2,700 | 5/3 | 6,400 |
Fees Earned | |||
5/8 | 12,300 |
Supplies | |||
5/2 | 900 | 5/15 | 660 |
Beth Worley, Capital | |||
5/1 | 75,000 |
Operating Expenses | |||
5/5 | 6,280 | ||
5/15 | 660 |
Based upon the T accounts provided, prepare the nine journal entries from which the postings were made.
Expert Solution
Step 1
Journal is a book in which day to day financial events are recorded in chronological order. Journal forms the basis for the further accounting processes.
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
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT