Based upon the data presented in Exercise 2-13, (a) prepare an unadjusted trial balance, listing the accounts in their proper order. (b) Based upon the unadjusted trial balance, determine the net income or net loss.
Answer:
a.
WYOMING TOURS CO.
Unadjusted Trial Balance
June 30, 2016
Debit
Balances
Credit
Balances
Cash 28,850
Accounts Receivable 5,100
Supplies 1,400
Equipment 14,500
Accounts Payable 5,000
Common Stock 40,000
Dividends 3,000
Service Revenue 13,800
Operating Expenses 5,950
58,800 58,800
b. Net income, $7,850 ($13,800 – $5,950)
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