Questions from College Accounting

Q: Kay’s Agency has the following payroll information for the week

Kay’s Agency has the following payroll information for the week ended December 14. State income tax is computed as 20 percent of federal income tax.Assumed tax rates are as follows:a...

Q: The balances of the ledger accounts of Beldren Home Center

The balances of the ledger accounts of Beldren Home Center as of December 31, the end of its fiscal year, are as follows:Cash ……………………………………………………………………………………………… $ 10,592Accounts Receivable ………………………...

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

The trial balance of Jillson 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...

Q: Here are the accounts in the ledger of Misha’s Jewel

Here are the accounts in the ledger of Misha’s Jewel Box, with the balances as of December 31, the end of its fiscal year.Cash ……………………………………………………………………………………….. $ 13,242Accounts Receivable ………………………...

Q: The account balances of Bryan Company as of June 30,

The account balances of Bryan Company as of June 30, the end of the current fiscal year, are as follows:Required1. Data for the adjustments are as follows:a. Expired or used up insurance, $495b. Depre...

Q: Williams Mechanic Services prepared the following work sheet for the

Williams Mechanic Services prepared the following work sheet for the year ended March 31, 20--.Required1. Complete the work sheet. (Skip this step if using CLGL.)2. Prepare an income statement.3. Prep...

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:Required1. Data for the adjustments are as follows:a. Expire...

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: You are to record transactions in a two-column general journal.

You are to record transactions in a two-column general journal. Assume that the fiscal period is one month. You will then be able to complete all of the steps in the accounting cycle.When you are anal...

Q: Following is the chart of accounts of Vance Rehab Clinic:

Following is the chart of accounts of Vance Rehab Clinic:Assets111 Cash113 Accounts Receivable115 Supplies117 Prepaid Insurance124 EquipmentLiabilities221 Accounts PayableOwner’s Equity311 J. Vance, C...