Question

please answer all the questions.

Identifying Transactions 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 75,000 (2) 8,150(3) 1,600 6,280 2,700 900 Accounts Receivable 12,300 (7) Supplies 900 (8) . Equipment 8,000 Accounts Payable 2,700|(3)

Answer 1

Ans.(a).

Transactions	A/c Debited	Effect	A/c Credited	Effect
1	Asset	Increase	Owner's Equity	Increase
2	Asset	Increase	Asset	Decrease
3	Asset	Increase	Asset Liabilities	Decrease Increase
4	Expenses	Increase	Asset	Decrease
5	Asset	Increase	Revenue	Increase
6	Liabilities	Decrease	Asset	Decrease
7	Asset	Increase	Asset	Decrease
8	Expenses	Increase	Asset	Decrease
9	Owner's Equity	Decrease	Asset	Decrease

Ans.(b).

Journal Entries in the Books of National Park Tour Co.

Trn	Particulars	Amt	Amt
1	Cash To Beth Worley, Capital	75,000	75,000
2	Supplies To Cash	900	900
3	Equipment To Cash To Accounts Payable	8,000	1,600 6,400
4	Operating Expenses To Cash	6,280	6,280
5	Accounts Receivable To Fees Earned	12,300	12,300
6	Accounts Payable To Cash	2,700	2,700
7	Cash To Accounts Receivable	8,150	8,150
8	Operating Expenses To Supplies	660	660
9	Beth Worley, Drawing To Cash	2,500	2,500

Ans.(c).

Trial Balance of National Park Tour Co.

Particulars	Debit	Credit
Beth Worley, Capital		75,000
Beth Worley, Drawing	2,500
Cash	69,170
Accounts Receivables	4,150
Accounts Payable		3,700
Equipment	8,000
Supplies	240
Fees Earned		12,300
Operating Expenses	6,940
Total	91,000	91,000