Questions from Accounting Principles


Q: The accounts in the ledger of Prompt Delivery Service contain the following

The accounts in the ledger of Prompt Delivery Service contain the following balances on July 31, 2020. Instructions Prepare a trial balance with the accounts arranged as illustrated in the chapter a...

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Q: Beyers Security Company provides security services. Selected transactions for Beyers are

Beyers Security Company provides security services. Selected transactions for Beyers are presented below. Oct. 1 Invested $66,000 cash in the business. 2 Hired part-time security consultant. Salary wi...

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Q: Transactions for the Oleg Thorn Company for the month of June are

Transactions for the Oleg Thorn Company for the month of June are presented below. Identify the accounts to be debited and credited for each transaction. June 1 Oleg Thorn invests $5,000 cash in a sma...

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Q: Kim Yi has prepared the following list of statements about accounts.

Kim Yi has prepared the following list of statements about accounts. 1. An account is an accounting record of either a specific asset or a specific liability. 2. An account shows only increases, not d...

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Q: Selected transactions for M. Acosta, an interior decorator, in

Selected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3 Purchased used car for $3,000 cash for use in bu...

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Q: Data for M. Acosta, interior decorator, are presented in

Data for M. Acosta, interior decorator, are presented in E2.2. Instructions Journalize the transactions using journal page J1. Data from E2.2: Selected transactions for M. Acosta, an interior decora...

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Q: The following information relates to Royale Real Estate Agency. Oct

The following information relates to Royale Real Estate Agency. Oct. 1 James Royale begins business as a real estate agent with a cash investment of $17,000. 2 Hires an administrative assistant. 3 Pur...

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Q: Transaction data for Royale Real Estate Agency are presented in E2.

Transaction data for Royale Real Estate Agency are presented in E2.4. Instructions Journalize the transactions. Data From E2.4: Oct. 1 James Royale begins business as a real estate agent with a cas...

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Q: Lennon Industries had the following transactions. 1. Borrowed $

Lennon Industries had the following transactions. 1. Borrowed $5,000 from the bank by signing a note. 2. Paid $3,900 cash for a computer. 3. Purchased $650 of supplies on account. Instructions a. Ind...

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Q: Maquoketa Services was formed on May 1, 2020. The following

Maquoketa Services was formed on May 1, 2020. The following transactions took place during the first month. Transactions on May 1: 1. Jay Bradford invested $40,000 cash in the company, as its sole own...

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