Questions from College Accounting

Q: Falcon Co., which uses an Allowance for Doubtful Accounts, had

Falcon Co., which uses an Allowance for Doubtful Accounts, had the following transactions in 2015, 2016, and 2017. (Use the income statement approach.) a. Journalize the transactions. (The company u...

Q: Birch Company had credit sales of $220,000 during 2015

Birch Company had credit sales of $220,000 during 2015. The balance in Allowance for Doubtful Accounts is a $1,010 debit balance. Journalize the Bad Debts Expense for December 31 using each of the fol...

Q: Determine the maturity date for each of the following without the use

Determine the maturity date for each of the following without the use of tables:

Q: Use the table in the text to prove your answers for Exercise

Use the table in the text to prove your answers for Exercise 14B-2. Exercise 14B-2: Determine the maturity date for each of the following without the use of tables:

Q: The Carney Electric Company uses the perpetual inventory system. Record these

The Carney Electric Company uses the perpetual inventory system. Record these transactions in a two-column journal.

Q: Hernando Favor had been working in the bakery department of Long Company

Hernando Favor had been working in the bakery department of Long Company for 4 years when he was promoted to the accounting department. Since his promotion, sales in the bakery department have slipped...

Q: Journalize and post the preceding transactions (Exercise 15B-2)

Journalize and post the preceding transactions (Exercise 15B-2) using a two-column journal and T accounts. Exercise 15B-2: The ABC Company uses the perpetual inventory system with a subsidiary ledge...

Q: Madden Sales uses the FIFO method with the perpetual inventory system.

Madden Sales uses the FIFO method with the perpetual inventory system. Enter the following information into the inventory record form for product 44BX. Be sure to keep the balance on hand up-to-date....

Q: From the following, prepare depreciation schedules for the first 2 years

From the following, prepare depreciation schedules for the first 2 years for (a) straight-line, (b) units of-production, and (c) double declining-balance at twice the straight-line rate methods. • Mac...

Q: Lincoln Co., whose accounting period ends on December 31,

Lincoln Co., whose accounting period ends on December 31, purchased a machine for $6,800 on January 1 with an estimated residual value of $840 and an estimated useful life of 4 years. Prepare deprecia...