Questions from College Accounting

Q: From the following partial data, prepare an income statement showing departmental

From the following partial data, prepare an income statement showing departmental income before tax along with net income for Phil’s Corporation for the year ended December 31, 201X....

Q: Glover Company has requested that you (1) assign indirect expenses

Glover Company has requested that you (1) assign indirect expenses to its jewelry and shoes departments as appropriate and (2) prepare an income statement for June 201X showing departmental contributi...

Q: An analysis of the accounts of Billings Manufacturing reveals the following data

An analysis of the accounts of Billings Manufacturing reveals the following data for the month ended October 31, 201X: Costs Incurred: Raw materials purchased, $128,000; direct labor, $134,000; manu...

Q: As the bookkeeper of Bishop Manufacturing, you are to record the

As the bookkeeper of Bishop Manufacturing, you are to record the following transactions in the general journal for the month of November: a. Raw materials of $78,000 were issued from the storeroom. b....

Q: From the trial balance in Figure 25.19 and the provided

From the trial balance in Figure 25.19 and the provided year-end information, prepare a worksheet for Stapel Corporation (assume no adjustments). Figure 25.19: Year-End Figures Raw materials invent...

Q: The following transactions occurred in the opening and operation of Brenden’s Delivery

The following transactions occurred in the opening and operation of Brenden’s Delivery Service. A. Brenden Oulette opened the delivery service by investing $21,000 from his personal savings account....

Q: Ben Shea is the accountant for Shea’s Internet Service. From the

Ben Shea is the accountant for Shea’s Internet Service. From the following information, his task is to construct a balance sheet as of June 30, 201X, in proper form. Could you help h...

Q: From the following T accounts of Bill’s Cleaning Service, (a

From the following T accounts of Bill’s Cleaning Service, (a) foot and determine ending balances, and (b) prepare a trial balance in proper form for December 201X.

Q: Journalize the following transactions: a. Sold merchandise on

Journalize the following transactions: a. Sold merchandise on account to Troy Co., invoice no. 10, $50. b. Received check from Brown Co., $300, less 3% discount. c. Cash sales, $104. d. Issued credit...

Q: Jody Williams, owner of Williams Home Decorating Service, has requested

Jody Williams, owner of Williams Home Decorating Service, has requested that you prepare from the following balances (a) an income statement for September 201X, (b) a statement of ownerâ€&#...