Identifying transactions national park tours co. is a travel agency. the nine transactions recorded by national park tours during may 2019, its first month of operations, are indicated in the following t accounts: cash (1) 75,000 (2) 900 (7) 8,150 (3) 1,600 (4) 6,280 (6) 2,700 (9) 2,500 accounts receivable (5) 12,300 (7) 8,150 supplies (2) 900 (8) 660 equipment (3) 8,000 accounts payable (6) 2,700 (3) 6,400 beth worley, capital (1) 75,000 beth worley, drawing (9) 2,500 fees earned (5) 12,300 operating expenses (4) 6,280 (8) 660 indicate for each debit and each credit (a) whether an asset, liability, owner's equity, drawing, revenue, or expense account was affected and (b) whether the account was increased (+) or decreased account debited account credited transaction type effect type effect (1) (2) (3) (4) (5) (6) (7) (8) (9)

The answer is provided below

Explanation:

a. The unadjusted trial balance has been attached.

b. The net income is calculated as sales minus the expenses. Regarding the question, after the trial balance has been prepared, the net income is the value of the company's operating expenses which is then subtracted from the fees that the company earned. Therefore, the net income will be:= 12300-6940 = 5360

The answers are provided below.

Explanation:

a. The trial balance is a worksheet whereby every balance of all the ledgers will be compiled to the debit and the credit account column and the totals are equal.

The trial balance has been attached.

b. The Net income which is also referred to as the net earnings, is calculated as the sales minus the cost of goods sold, general, selling, operating and administrative expenses,

interest, depreciationn, taxes, and

every other expenses.

In this case, the net income will be the value of the operating expenses subtracted from the fees earned. This will be:

Net income will be:

= 12300-6940

= 5360

National Park Tours Co.

Journal Entries

Sr. No                Account               Debit          Credit

1)                        Cash                   75,000 Dr

                  Beth Worley Capital                            75,000 Cr

Invested in capital.

2)   Supplies Expense                         900Dr

                    Cash                                              900 Cr

Bought Supplies

3)           Equipment                       8000 Dr

                     Cash                                    1600 Cr

                   Accounts Payable               6400 Cr

Bought Equipment.

4)             Operating Expenses           6280Dr

                     Cash                                            6280 Cr

Spent on Operating Expenses

5)           Accounts Receivable       12300Dr

                   Fees Earned                                 12300 Cr

Provided Services on Account.

6)           Accounts Payable        2700Dr

                  Cash                                           2700 Cr

Paid cash for a liability raised previously.

7)               Cash                            8,150Dr

                    Accounts Receivable               8,150 Cr

Received Services fees.

8)          Supplies    Expenses             660Dr

                         Supplies                                 660 Cr

Supplies expenses charged.

9)         Beth Worley, Drawing    2500Dr

                       Cash                                        2500 Cr

Withdrew for personal use.