Questions from College Accounting

Q: S. Myers, a speech therapist, opened a clinic in the

S. Myers, a speech therapist, opened a clinic in the name of Myers Clinic. Her accountant prepared the following chart of accounts:The following transactions occurred during June of this year:a. Myers...

Q: On May 1, B. Bangle opened Self-Wash Laundry. His accountant

On May 1, B. Bangle opened Self-Wash Laundry. His accountant listed the following chart of accounts:CashSuppliesPrepaid InsuranceEquipmentFurniture and FixturesAccounts PayableB. Bangle, CapitalB. Ban...

Q: The accounts and their balances in the ledger of Markey’s

The accounts and their balances in the ledger of Markey’s Mountain Shop as of December 31, the end of its fiscal year, are as follows:Cash ……………………………………………………………………………………… $ 12,840Accounts Receivable...

Q: The balances of the ledger accounts of Pelango Furniture as

The balances of the ledger accounts of Pelango Furniture as of December 31, the end of its fiscal year, are as follows:Cash …………………………………………………………………………………….. $ 12,482Accounts Receivable …………………………………...

Q: Here is the partial work sheet for Eckland Stereo.

Here is the partial work sheet for Eckland Stereo.Required1. Prepare a statement of owner’s equity (no additional investment).2. Prepare a balance sheet.3. Determine the amount of th...

Q: Here is the partial work sheet for Meyer Mountain Shop.

Here is the partial work sheet for Meyer Mountain Shop.Required1. Prepare a statement of owner’s equity (no additional investment).2. Prepare a balance sheet.3. Determine the amount...

Q: The account balances of Miss Beverly’s Tutoring Service as of

The account balances of Miss Beverly’s Tutoring Service as of June 30, the end of the current fiscal year, are as follows:1. Data for the adjustments are as follows:a. Expired or use...

Q: The chart of accounts of Ethan Academy is shown here,

The chart of accounts of Ethan Academy is shown here, followed by the transactions that took place during December of this year.Assets111 Cash113 Accounts Receivable114 Supplies115 Prepaid Insurance12...

Q: Tom’s Catering Services prepared the following work sheet for the

Tom’s Catering Services prepared the following work sheet for the year ended December 31, 20--.Required1. Complete the work sheet. (Skip this step if using CLGL.)2. Prepare an income...

Q: The trial balance of Hadden Company as of December 31,

The trial balance of Hadden Company as of December 31, the end of its current fiscal year, is as follows:Here are the data for the adjustments.a–b. Merchandise Inventory at December...