Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Instructions Rocky Mountain Tours Co. is a travel agency. The nine transactions recorded by Rocky Mountain Tours during June 20Y2, its first month of operations,

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed Instructions 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 6/1 35,000 6/2 2,700 6/11 8,300 6/3 4,500 6/5 4,700 6/9 5,200 6/25 2,500 Accounts Receivable 6/8 14,000 6/11 8,300 Supplies 6/2 2,700 6/15 1,100 Equipment 6/3 14,900 Accounts Payable 6/9 5,200 6/3 Common Stock 6/1 Dividends 10,400 35,000 Instructions 6/8 14,000 6/11 8,300 Supplies 6/2 2,700 6/15 1,100 Equipment 6/3 14,900 Accounts Payable 6/9 5,200 6/3 10,400 Common Stock 6/1 35,000 Dividends 6/25 2,500 Service Revenue 6/8 Operating Expenses 6/5 4,700 6/15 1,100 14,000 Based upon the T accounts provided, prepare the nine journal entries from which the postings were made. Enter the transactions in chronological order. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts CHART OF ACCOUNTS Rocky Mountain Tours Co. General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Equipment REVENUE 41 Service Revenue EXPENSES 51 Operating Expenses Journal X Based upon the T accounts provided, prepare the nine journal entries from which the postings were made. Enter the transactions in chronological order. Refer to the Chart of Accounts for exact wording of account titles. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 DATE DESCRIPTION JOURNAL PAGE 1 ACCOUNTING EQUATION LIABILITIES EQUITY POST. REF. DEBIT CREDIT ASSETS

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles Part 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

6th Canadian edition

1118306783, 978-1118728918, 1118728912, 978-1118306789

More Books

Students also viewed these Accounting questions

Question

In Exercises 32-37, find the values of x and y. 43 75

Answered: 1 week ago

Question

Explain the importance of purchasing and describe its procedures.

Answered: 1 week ago

Question

Discuss the main concerns in selecting a supplier.

Answered: 1 week ago