Questions from College Accounting

Q: Dr. John Salvaggi is a chiropractor. As of December 31

Dr. John Salvaggi is a chiropractor. As of December 31, he owned the following property that related to his professional practice. Cash………&...

Q: Jay Pembroke started a business. During the first month (April

Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred. (a) Invested cash in business, $18,000. (b) Bought office supplies for $4,600: $2,000 in cash...

Q: Foot and balance the cash T account shown below. /

Foot and balance the cash T account shown below.

Q: From the information in the trial balance presented above, prepare an

From the information in the trial balance presented above, prepare an income statement for Juanita’s Delivery Service for the month ended September 30, 20--.

Q: From the information in the trial balance presented above, prepare a

From the information in the trial balance presented above, prepare a statement of owner’s equity for Juanita’s Delivery Service for the month ended September 30, 20--.

Q: Identify all items that are debited or credited to Social Security Tax

Identify all items that are debited or credited to Social Security Tax Payable and to Medicare Tax Payable.

Q: Complete the following statements using either “debit” or “credit

Complete the following statements using either “debit” or “credit”: (a) The cash account is increased with a _________. (b) The owner’s capital account is increased with a _________. (c) The delivery...

Q: Richard Gibbs began a business called Richard’s Shoe Repair. 1

Richard Gibbs began a business called Richard’s Shoe Repair. 1. Create T accounts for Cash; Supplies; Richard Gibbs, Capital; and Utilities Expense. Identify the following transactions by letter and p...

Q: Indicate the normal balance (debit or credit) for each of

Indicate the normal balance (debit or credit) for each of the following accounts:

Q: Analyze the following transactions for the first month of business using T

Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar am...