Questions from College Accounting

Q: From the following, calculate the net cash flow from operating activities

From the following, calculate the net cash flow from operating activities using the indirect method:

Q: Max Peney owns Peney’s Sneaker Shop. (Balances as of August

Max Peney owns Peney’s Sneaker Shop. (Balances as of August 1 are provided for the accounts receivable and general ledger accounts as follows: Donovan, $375 Dr.; Littler, $900 Dr.; P...

Q: Al Franklin opened Al’s Cosmetic Market on December 1. An 8

Al Franklin opened Al’s Cosmetic Market on December 1. An 8% sales tax is calculated and added to all cosmetic sales. Al offers no sales discounts. The following transactions occurre...

Q: Rasheed Chase recently opened Rasheed’s Skate Shop. As the bookkeeper of

Rasheed Chase recently opened Rasheed’s Skate Shop. As the bookkeeper of the company, use the periodic method to journalize, record, and post when appropriate the following transacti...

Q: As the accountant of Trina’s Natural Food Store, (1)

As the accountant of Trina’s Natural Food Store, (1) journalize the following transactions into the general journal (p. 2), (2) record and post as appropriate, and (3) prepare a sche...

Q: Wendy Johnson operates a wholesale computer center and has hired you as

Wendy Johnson operates a wholesale computer center and has hired you as her bookkeeper to record the following transactions. She would like you to (1) journalize the following transactions, (2) record...

Q: Abby Ellen opened Abby’s Toy House. As her newly hired accountant

Abby Ellen opened Abby’s Toy House. As her newly hired accountant, your tasks are to do the following: 1. Journalize the transactions for the month of March. Use the periodic method....

Q: Jeanne’s Toy Shop completed the following merchandise transactions in the month of

Jeanne’s Toy Shop completed the following merchandise transactions in the month of April: Jeanne’s Toy Shop accounts included the following: Cash 101; Accounts Re...

Q: Prepare a formal income statement from the partial worksheet for Wright Co

Prepare a formal income statement from the partial worksheet for Wright Co. in Figure 12.16. Figure 12.16:

Q: Prepare a statement of owner’s equity and a classified balance sheet from

Prepare a statement of owner’s equity and a classified balance sheet from the worksheet shown for Jager Company in Figure 12.17. (Note: Of the Mortgage Payable, $200 is due within 1...