EX 2-13 identifying transactions

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:

Cash Equipment Dividends (1) 40,000 (2) 2,500 (3) 14,500 (9) 3,000 (7) 8,700 (3) 4,000 (4) 4,850 (6) 5,500 (9) 3,000 Accounts Receivable Accounts Payable Service Revenue (5) 13,800 (7) 8,700 (6) 5,500 (3) 10,500 (5) 13,800 Supplies Common Stock Operating Expenses (2) 2,500 (8) 1,100 (1) 40,000 (4) 4,850 (8) 1,100

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 +

Answer:

a. and b. 

Account Debited Account Credited 

Transaction Type 

Effect Type Effect 

(1) 

(2) 

(3) 

(4) 

(5) 

(6) 

(7) 

(8) 

(9) 

  

asset + stockholders’ equity + 

asset + asset – 

asset + asset – 

liability + 

expense + asset – 

asset + revenue + 

liability – asset – 

asset + asset – 

expense + asset – 

dividend + asset –