Identifying TransactionsEmerald Tours Co. is a travel agency. The nine transactions recorded by Emerald Tours during May 20Y5, its first month of operations, are indicated in the following T accounts:Cash(1)97,000(2)1,160(7)10,540(3)2,070 (4)8,120 (6)3,490 (9)3,200Accounts Receivable(5)15,910(7)10,540Supplies(2)1,160(8)850Equipment(3)10,350 Accounts Payable(6)3,490(3)8,280Mary Silva, Capital (1)97,000Mary Silva, Drawing(9)3,200 Fees Earned (5)15,910Operating Expenses(4)8,120 (8)850 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 DebitedAccount CreditedTransactionTypeEffectTypeEffect(1) (2) (3) (4) (5) (6) (7) (8) (9)

Name: Identifying TransactionsEmerald Tours Co. is a travel agency. The nine
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Description: Identifying TransactionsEmerald Tours Co. is a travel agency. The nine transactions recorded by Emerald Tours during May 20Y5, its first month of operations, are indicated in the following T accounts:Cash(1)97,000(2)1,160(7)10,540(3)2,070 (4)8,120

Types and effects of Transactions: Source of Asset (SA) – An asset account increases and a…

Answered: Identifying Transactions Emerald Tours…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter3: Basic Accounting Systems: Accrual Basis

Section: Chapter Questions

Problem 2SEQ: On January 24, 20Y8, Niche Consulting collected $5,700 it had hilled its clients for services...

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Identifying Transactions

Emerald Tours Co. is a travel agency. The nine transactions recorded by Emerald Tours during May 20Y5, its first month of operations, are indicated in the following T accounts:

Cash
(1)	97,000	(2)	1,160
(7)	10,540	(3)	2,070
		(4)	8,120
		(6)	3,490
		(9)	3,200

Accounts Receivable
(5)	15,910	(7)	10,540

Supplies
(2)	1,160	(8)	850

Equipment
(3)	10,350

Accounts Payable
(6)	3,490	(3)	8,280

Mary Silva, Capital
		(1)	97,000

Mary Silva, Drawing
(9)	3,200

Fees Earned
		(5)	15,910

Operating Expenses
(4)	8,120
(8)	850

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)

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