Questions from College Accounting

Q: Fill in the missing amounts for the following bank reconciliation:

Fill in the missing amounts for the following bank reconciliation:

Q: The Income Statement columns of the work sheet of Redfax Company for

The Income Statement columns of the work sheet of Redfax Company for the fiscal year ended December 31 follow. During the year, D. Redfax withdrew $12,000. Journalize the closing entries.

Q: Identify each of the following items relating to sections of an income

Identify each of the following items relating to sections of an income statement as Revenue from Sales (S), Cost of Goods Sold (CGS), Selling Expenses (SE), General Expenses (GE), Other Income (OI), o...

Q: The Income Statement columns of the August 31 (year-end

The Income Statement columns of the August 31 (year-end) work sheet for Ralley Company are shown here. From the information given, prepare an income statement for the company. To save time and space,...

Q: Identify each of the following items relating to sections of a balance

Identify each of the following items relating to sections of a balance sheet as Current Assets (CA), Property and Equipment (PE), Current Liabilities (CL), Long-Term Liabilities (LTL), or Owner’s Equi...

Q: On December 31, 20--, the following selected accounts and amounts

On December 31, 20--, the following selected accounts and amounts appeared on the balance sheet for Duncan Company. Determine the amount of the working capital and the current ratio. (Round to two dec...

Q: From the following T accounts, journalize the closing entries dated December

From the following T accounts, journalize the closing entries dated December 31 for Baylor Company.

Q: From the following information, journalize the last two closing entries and

From the following information, journalize the last two closing entries and present a statement of owner’s equity for Nishimoto Company.

Q: A partial work sheet for The Fan Shop is presented here.

A partial work sheet for The Fan Shop is presented here. The merchandise inventory at the beginning of the year was $52,300. P. G. Ochoa, the owner, withdrew $30,500 during the year. Required 1. Pre...

Q: The following partial work sheet covers the affairs of Masanto and Company

The following partial work sheet covers the affairs of Masanto and Company for the year ended June 30. Required 1. Journalize the six adjusting entries. 2. Journalize the closing entries. 3. Journal...