Questions from College Accounting

Q: Calculate the contribution margin for each department and income before taxes,

Calculate the contribution margin for each department and income before taxes, based on the following:

Q: From the following transactions, prepare the appropriate general journal entries for

From the following transactions, prepare the appropriate general journal entries for the month of May: a. Raw materials costing $78,000 were issued from the storeroom. b. Direct labor of $85,000 was...

Q: a. In which columns of the worksheet would the following additional

a. In which columns of the worksheet would the following additional data be placed? b. In which columns would the beginning-of-year figures be placed?

Q: Prepare journal entries for the following transactions that occurred during April:

Prepare journal entries for the following transactions that occurred during April:

Q: Record the following into the general journal of Rick’s Auto Shop.

Record the following into the general journal of Rick’s Auto Shop.

Q: Explain how a creditor might analyze a statement of cash flows.

Explain how a creditor might analyze a statement of cash flows.

Q: From the following, prepare a balance sheet for Rolland Co.

From the following, prepare a balance sheet for Rolland Co. Cleaners at the end of June 201X: Cash, $52,000; Equipment, $36,000; Accounts Payable, $11,000; B. Rolland, Capital.

Q: Record the following transactions in the expanded accounting equation. Do not

Record the following transactions in the expanded accounting equation. Do not calculate a running balance. a. Bell invested $45,000 in a computer company. b. Bought computer equipment on account, $9...

Q: From the following account balances, prepare in proper form for September

From the following account balances, prepare in proper form for September (a) an income statement, (b) a statement of owner’s equity, and (c) a balance sheet for French Realty.

Q: Complete the following table. For each account listed on the left

Complete the following table. For each account listed on the left, fill in what category it belongs to, whether increases and decreases in the account are marked on the debit or credit sides, and on w...