Wyoming Tours Co. is a travel agency. The nine transactions recorded by Wyoming
ID: 2606053 • 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:
Based upon the T accounts provided, prepare the nine journal entries from which the postings were made.
Chart of Accounts
Journal
Based upon the T accounts provided, prepare the nine journal entries from which the postings were made.
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JOURNAL
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Cash 6/1 45,000 6/2 2,500 6/11 7,700 6/3 4,800 6/5 4,600 6/9 5,300 6/25 3,400Explanation / Answer
01-Jun Cash $ 45,000 Lorene Jones, Capital $ 45,000 02-Jun Supplies $ 2,500 Cash $ 2,500 03-Jun Equipment $ 13,900 Cash $ 4,800 Accounts payable $ 9,100 05-Jun Operating expenses $ 4,600 Cash $ 4,600 08-Jun Accounts receivable $ 12,400 Service revenue $ 12,400 09-Jun Accounts payable $ 5,300 Cash $ 5,300 11-Jun Cash $ 7,700 Accounts receivable $ 7,700 15-Jun Operating expense $ 1,400 Supplies $ 1,400 25-Jun Lorene Jones, Withdrawals $ 3,400 Cash $ 3,400
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