Questions from College Accounting

Q: In the following two-column journal, the capital letters represent

In the following two-column journal, the capital letters represent where parts of a journal entry appear. Write the numbers 1 through 8 on a sheet of paper. After each number, match the capital letter...

Q: Journalize correcting entries for each of the following errors and include a

Journalize correcting entries for each of the following errors and include a brief explanation. a. A cash purchase of office equipment for $680 was journalized as a cash purchase of store equipment fo...

Q: Decor Services completed the following transactions. Journalize the transactions in general

Decor Services completed the following transactions. Journalize the transactions in general journal form, including brief explanations. Oct. 7 Received cash on account from Randy Hill, a customer, Inv...

Q: Describe two ways to increase owner’s equity and two ways to decrease

Describe two ways to increase owner’s equity and two ways to decrease owner’s equity.

Q: Montoya Tutoring Service completed the following transactions. Journalize the transactions in

Montoya Tutoring Service completed the following transactions. Journalize the transactions in general journal form, including brief explanations. Mar. 1 Bought equipment for $5,798 from Teaching Suppl...

Q: The following February journal entries all involved cash. /

The following February journal entries all involved cash. Post the amounts to the ledger account for Cash, Account No. 111. Assume that all transactions appeared on page 1 of the general journal.

Q: Arrange the following steps in the posting process in correct order:

Arrange the following steps in the posting process in correct order: a. The amount of the balance of the ledger account is recorded in the Debit Balance or Credit Balance column. b. The amount of the...

Q: The bookkeeper for Nevado Company has prepared the following trial balance:

The bookkeeper for Nevado Company has prepared the following trial balance: The bookkeeper has asked for your help. In examining the company’s journal and ledger, you discover the...

Q: Determine the effect of the following errors on a company’s total revenue

Determine the effect of the following errors on a company’s total revenue, total expenses, and net income. Indicate the effect by writing O for Overstated (too much), U for Understat...

Q: What is the effect on the fundamental accounting equation if supplies are

What is the effect on the fundamental accounting equation if supplies are purchased on account? How will the fundamental accounting equation change if supplies are purchased with cash? Explain how thi...