Wyoming Tours Co is a travel agency The nine transactions re

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:

Unadjusted Trial Balance

A. Prepare an unadjusted trial balance, listing the accounts in their proper order.

Wyoming Tours Co.

UNADJUSTED TRIAL BALANCE

June 30, 2016

1

Cash

2

Accounts Receivable

3

Supplies

4

Equipment

5

Accounts Payable

6

Lorene Jones, Capital

7

Lorene Jones, Drawing

8

Service Revenue

9

Operating Expenses

10

Totals

Final Question

B. Based upon the unadjusted trial balance, determine the net income or net loss.

Cash
(1)	33,000	(2)	2,500
(7)	8,900	(3)	4,800
		(4)	4,900
		(6)	5,600
		(9)	3,100

Solution

Answer

ACCOUNT TITLE

DEBIT

CREDIT

Cash

21000

Accounts Receivable

3300

Supplies

1000

Equipment

14800

Accounts Payable

4400

Lorene Jones, Capital

33000

Lorene Jones, Drawing

3100

Service Revenue

12200

Operating Expenses

6400

Totals

49600

49600

Income Statement

Service revenue

12200

Operating expenses

6400

Net Income

5800

ACCOUNT TITLE	DEBIT	CREDIT
Cash	21000
Accounts Receivable	3300
Supplies	1000
Equipment	14800
Accounts Payable		4400
Lorene Jones, Capital		33000
Lorene Jones, Drawing	3100
Service Revenue		12200
Operating Expenses	6400
Totals	49600	49600