Questions from College Accounting

Q: From the following balances, calculate the cost of raw material used

From the following balances, calculate the cost of raw material used: Raw materials inventory, January 1 …………………………… $ 70,000 Raw materials inventory, December 31 ………………………… 91,000 Purchases of raw m...

Q: Use transaction analysis charts to analyze the following adjustments:

Use transaction analysis charts to analyze the following adjustments: a. Depreciation on equipment, $700. b. Rent expired, $400.

Q: From the following adjustment data, calculate the adjustment amount and record

From the following adjustment data, calculate the adjustment amount and record appropriate debits or credits: a. Supplies purchased, $800. Supplies on hand, $500. b. Store equipment, $14,000. Accumula...

Q: From the following trial balance (Figure 4.19) and

From the following trial balance (Figure 4.19) and adjustment data, complete a worksheet for J. Revere as of January 31, 201X: a. Depreciation expense, store equipment, $6. b. Insurance expired, $3. c...

Q: Complete the following table: /

Complete the following table:

Q: Label the following look-back periods for 200C by months.

Label the following look-back periods for 200C by months.

Q: If in Exercise 6B-2 cash on hand is $17

If in Exercise 6B-2 cash on hand is $17, prepare the entry to replenish the petty cash on March 31. Exercise 6B-2: In general journal form, prepare journal entries to establish a petty cash fund on...

Q: If in Exercise 6B-2 cash on hand is $29

If in Exercise 6B-2 cash on hand is $29, prepare the entry to replenish the petty cash on March 31. Exercise 6B-2: In general journal form, prepare journal entries to establish a petty cash fund on...

Q: a. Calculate the total wages earned for each employee assuming an

a. Calculate the total wages earned for each employee assuming an overtime rate of time and a half over 40 hours. b. Calculate the total biweekly earnings of these newly hired salaried empl...

Q: Compute the net pay for each employee using the federal income tax

Compute the net pay for each employee using the federal income tax withholding table in Figure 7.2. Assume that FICA OASDI tax is 6.2% on a wage base limit of $117,000; Medicare is 1.45% on all earn...