Questions from College Accounting

Q: The following partial work sheet is taken from the books of Carmen’s

The following partial work sheet is taken from the books of Carmen’s Collies, a local pet kennel, for the year ended December 31, 20--. Journalize the adjustments in a general journa...

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

What steps are followed in posting from the purchases journal to the accounts payable ledger?

Q: Sunita Computer Supplies entered into the following transactions. Prepare journal entries

Sunita Computer Supplies entered into the following transactions. Prepare journal entries under the perpetual inventory system. May 1 Purchased merchandise on account from Anju Enterprises, $200,000....

Q: On December 31, Anup Enterprises completed a physical count of its

On December 31, Anup Enterprises completed a physical count of its inventory. Although the merchandise inventory account shows a balance of $200,000, the physical count comes to $210,000. Prepare the...

Q: A trial balance for the Basket Corner, a business owned by

A trial balance for the Basket Corner, a business owned by Linda Palermo, is shown on page 557. Year-end adjustment information is provided below. (a and b) Merchandise inventory costing $24,000 is on...

Q: Based on the information that follows, prepare the revenue section of

Based on the information that follows, prepare the revenue section of a multiple-step income statement. Sales …………………………………………………… $86,200 Sales Returns and Allowances …………………… 2,280 Sales Discounts …...

Q: The trial balance for Darby Kite Store as of December 31,

The trial balance for Darby Kite Store as of December 31, 20-1, is shown on page 610. At the end of the year, the following adjustments need to be made: (a and b) Merchandise inventory as of December...

Q: The partial work sheet shown below is taken from the books of

The partial work sheet shown below is taken from the books of Burnside Auto Parts, a business owned by Barbara Davis, for the year ended December 31, 20--. REQUIRED 1. Determine the adjusting entrie...

Q: Based on the information that follows, prepare the cost of goods

Based on the information that follows, prepare the cost of goods sold section of a multiple-step income statement. Merchandise Inventory, January 1, 20-- ………………………………………………... $13,800 Purchases ……………...

Q: Use the following information to prepare a multiple-step income statement

Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods old section, for Aeito’s Plumbing Supplies for the year ended December 31...