Identifying transactions Obj. 1, 2 Rocky Mountain Tours Co. is a travel agency. The nine transactions recorded by Rocky Mountain Tours during June 20Y2, its first month of operations, are indicated in the following T accounts:

Cash Equipment Dividends

(1) 40,000 (2) 4,000 (3) 15,000 (9) 1,500

(7) 13,100 (3) 5,000

(4) 6,175

(6) 6,000

(9) 1,500 Accounts Receivable Accounts Payable Service Revenue

(5) 20,500 (7) 13,100 (6) 6,000 (3) 10,000 (5) 20,500 Supplies Common Stock Operating Expenses

(2) 4,000 (8) 2,200 (1) 40,000 (4) 6,175

(8) 2,200 Indicate for each debit and each credit:

(a) whether an asset, liability, stockholders’

equity, dividend, revenue, or expense account was affected and

(b) whether the account was increased (+) or decreased (–). Present your answers in the following form, with transaction (1)

given as an example:

Account Debited Account Credited Transaction Type Effect Type Effect

(1) asset + stockholders’ equity +

AppendixLO1