Questions from College Accounting


Q: From the following, which are subdivisions of owner’s equity?

From the following, which are subdivisions of owner’s equity?

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Q: Identify which of the following are not assets. /

Identify which of the following are not assets.

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Q: Which of the following statements are false? /

Which of the following statements are false?

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Q: 8. Indicate whether the following items would appear on the income

8. Indicate whether the following items would appear on the income statement (IS), statement of owner’s equity (OE), or balance sheet (BS).

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Q: Indicate next to each statement whether it refers to the income statement

Indicate next to each statement whether it refers to the income statement (IS), statement of owner’s equity (OE), or balance sheet (BS).

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Q: Indicate what effect (#1–4) each situation (#a

Indicate what effect (#1–4) each situation (#a–f) will have on the bank reconciliation process. 1. Add to bank balance. 2. Deduct from bank balance. 3. Add to chec...

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Q: Which of the transactions in Exercise 1 would require a journal entry

Which of the transactions in Exercise 1 would require a journal entry?

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Q: Indicate what effects (#1–4) each situation (#a

Indicate what effects (#1–4) each situation (#a–f) will have. (Note: There might be more than one effect applicable for a situation.) 1. New check written. 2. Recor...

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Q: Petty cash was originally established for $23. During the month

Petty cash was originally established for $23. During the month, $5.20 was paid out for thumbtacks and $5.90 for paper cups. During replenishment, the custodian discovered that the balance in petty ca...

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Q: Explain why stock dividends will not reduce total stockholders’ equity.

Explain why stock dividends will not reduce total stockholders’ equity.

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