Questions from College Accounting

Q: What steps are followed in posting sales from the general journal to

What steps are followed in posting sales from the general journal to the general ledger?

Q: Based on the following bank reconciliation, prepare the journal entries:

Based on the following bank reconciliation, prepare the journal entries:

Q: Based on the following petty cash information, prepare (a

Based on the following petty cash information, prepare (a) the journal entry to establish a petty cash fund, and (b) the journal entry to replenish the petty cash fund. On January 1, 20--, a check w...

Q: Based on the following information, prepare the weekly entries for cash

Based on the following information, prepare the weekly entries for cash receipts from service fees and cash short and over. A change fund of $100 is maintained.

Q: The book balance in the checking account of Johnson Enterprises as of

The book balance in the checking account of Johnson Enterprises as of October 31 is $5,718. The bank statement shows an ending balance of $5,217. The following information is discovered by (1) compar...

Q: The book balance in the checking account of Lyle’s Salon as of

The book balance in the checking account of Lyle’s Salon as of November 30 is $3,282.95. The bank statement shows an ending balance of $2,127. By examining last month’s bank reconciliation, comparing...

Q: Ryan Lawrence’s regular hourly rate is $15. He receives 1

Ryan Lawrence’s regular hourly rate is $15. He receives 1½ times the regular rate for any hours worked over 40 a week and double the rate for work on Sunday. During the past week, Lawrence worked 8 ho...

Q: Rebecca Huang receives a regular salary of $2,600 a

Rebecca Huang receives a regular salary of $2,600 a month and is paid 1½ times the regular hourly rate for hours worked in excess of 40 per week. (a) Calculate Huang’s overtime rate of pay. (b) Calcul...

Q: Using the table in Figure 8-4 on pages 288 and

Using the table in Figure 8-4 on pages 288 and 289, Figure 8-4: Determine the amount of federal income tax an employer should withhold weekly for employees with the following marital status, earn...

Q: Assume a Social Security tax rate of 6.2% is

Assume a Social Security tax rate of 6.2% is applied to maximum earnings of $118,500 and a Medicare tax rate of 1.45% is applied to all earnings. Calculate the Social Security and Medicare taxes for t...