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 (1) 40,000 (2) 2,500 (7) 8,700 (3) 4,000 (4) 4,850 (6) 5,500 (9) 3,000 Equipment (3) 14,500 Lorene Jones, Drawing (9) 3,000 Accounts Receivable (5) 13,800 (7) 8,700 Accounts Payable (6) 5,500 (3) 10,500 Service Revenue (5) 13,800 Supplies (2) 2,500 (8) 1,100 Lorene Jones, Capital (1) 40,000 Operating Expenses (4) 4,850 (8) 1,100
Required: 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.