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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: Beth Worley, Drawing Cash Equipment 900 (3) (1) (2) (9) 75,000 8,000 2,500 (7) (3) 8,150 1,600 (4) 6,280 (6) 2,700 (9) 2,500 Accounts Payable Accounts Receivable Fees Earned 12,300 (5) (7) 8,150 (6) 2,700 (3) 6,400 (5) 12,300 Operating Expenses Beth Worley, Capital Supplies (2) (8) (1) 75,000 (4) 900 660 6,280 (8) 660 (Continued) Indicate for each debit and each credit (a) whether an asset, liability, owner's equity drawing, revenue, or expense account was affected and (b) whether the account was increased (+) or decreased (-). Present your answers in the following form, with transac- tion (1) given as an example: Account Debited Account Credited Transaction Туре Effect Туре owner's equity Effect (1) asset +

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: Beth Worley, Drawing Cash Equipment 900 (3) (1) (2) (9) 75,000 8,000 2,500 (7) (3) 8,150 1,600 (4) 6,280 (6) 2,700 (9) 2,500 Accounts Payable Accounts Receivable Fees Earned 12,300 (5) (7) 8,150 (6) 2,700 (3) 6,400 (5) 12,300 Operating Expenses Beth Worley, Capital Supplies (2) (8) (1) 75,000 (4) 900 660 6,280 (8) 660 (Continued) Indicate for each debit and each credit (a) whether an asset, liability, owner's equity drawing, revenue, or expense account was affected and (b) whether the account was increased (+) or decreased (-). Present your answers in the following form, with transac- tion (1) given as an example: Account Debited Account Credited Transaction Туре Effect Туре owner's equity Effect (1) asset +

FINANCIAL ACCOUNTING
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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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: Beth Worley, Drawing Cash Equipment 900 (3) (1) (2) (9) 75,000 8,000 2,500 (7) (3) 8,150 1,600 (4) 6,280 (6) 2,700 (9) 2,500 Accounts Payable Accounts Receivable Fees Earned 12,300 (5) (7) 8,150 (6) 2,700 (3) 6,400 (5) 12,300 Operating Expenses Beth Worley, Capital Supplies (2) (8) (1) 75,000 (4) 900 660 6,280 (8) 660 (Continued)
Transcribed Image Text: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: Beth Worley, Drawing Cash Equipment 900 (3) (1) (2) (9) 75,000 8,000 2,500 (7) (3) 8,150 1,600 (4) 6,280 (6) 2,700 (9) 2,500 Accounts Payable Accounts Receivable Fees Earned 12,300 (5) (7) 8,150 (6) 2,700 (3) 6,400 (5) 12,300 Operating Expenses Beth Worley, Capital Supplies (2) (8) (1) 75,000 (4) 900 660 6,280 (8) 660 (Continued)
Indicate for each debit and each credit (a) whether an asset, liability, owner's equity drawing, revenue, or expense account was affected and (b) whether the account was increased (+) or decreased (-). Present your answers in the following form, with transac- tion (1) given as an example: Account Debited Account Credited Transaction Туре Effect Туре owner's equity Effect (1) asset +
Transcribed Image Text:Indicate for each debit and each credit (a) whether an asset, liability, owner's equity drawing, revenue, or expense account was affected and (b) whether the account was increased (+) or decreased (-). Present your answers in the following form, with transac- tion (1) given as an example: Account Debited Account Credited Transaction Туре Effect Туре owner's equity Effect (1) asset +
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