Question

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
6/1	45,000	6/2	2,500
6/11	7,700	6/3	4,800
		6/5	4,600
		6/9	5,300
		6/25	3,400

Equipment
6/3	13,900

Lorene Jones, Drawing
6/25	3,400

Accounts Receivable
6/8	12,400	6/11	7,700

Accounts Payable
6/9	5,300	6/3	9,100

Service Revenue
		6/8	12,400

Supplies
6/2	2,500	6/15	1,400

Lorene Jones, Capital
		6/1	45,000

Operating Expenses
6/5	4,600
6/15	1,400

Based upon the T accounts provided, prepare the nine journal entries from which the postings were made.

Chart of Accounts

CHART OF ACCOUNTS

Wyoming Tours Co.

General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Supplies
14	Prepaid Rent
15	Land
16	Equipment
17	Automobiles

	LIABILITIES
21	Accounts Payable
22	Unearned Rent
23	Notes Payable
24	Salaries Payable

	EQUITY
31	Lorene Jones, Capital
32	Lorene Jones, Drawing

	REVENUE
41	Service Revenue
42	Sales Commission

	EXPENSES
51	Advertising Expense
52	Automobile Expense
53	Insurance Expense
54	Rent Expense
55	Wages Expense
56	Supplies Expense
57	Utilities Expense
58	Miscellaneous Expense
59	Operating Expenses

Journal

Based upon the T accounts provided, prepare the nine journal entries from which the postings were made.

PAGE 1

JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

Answer 1

01-Jun	Cash	$ 45,000
	Lorene Jones, Capital		$ 45,000
02-Jun	Supplies	$    2,500
	Cash		$    2,500
03-Jun	Equipment	$ 13,900
	Cash		$    4,800
	Accounts payable		$    9,100
05-Jun	Operating expenses	$    4,600
	Cash		$    4,600
08-Jun	Accounts receivable	$ 12,400
	Service revenue		$ 12,400
09-Jun	Accounts payable	$    5,300
	Cash		$    5,300
11-Jun	Cash	$    7,700
	Accounts receivable		$    7,700
15-Jun	Operating expense	$    1,400
	Supplies		$    1,400
25-Jun	Lorene Jones, Withdrawals	$    3,400
	Cash		$    3,400