Questions from College Accounting

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: After the accountant posted the adjusting entries for M. Wally,

After the accountant posted the adjusting entries for M. Wally, Designer, the work sheet contained the following account balances on May 31:RequiredIf you are using Working Papers, complete the follow...

Q: The partial work sheet for Emil Consulting for June is

The partial work sheet for Emil Consulting for June is as follows:RequiredIf you are using Working Papers, complete the following:1. a. Write the owner’s name on the Capital and Draw...

Q: The completed work sheet for Oliver Tour Company as of

The completed work sheet for Oliver Tour Company as of December 31 is presented in your Working Papers or in CengageNow, along with the general ledger as of December 31 before adjustments.RequiredIf y...

Q: After the accountant posted the adjusting entries for B. Lyon,

After the accountant posted the adjusting entries for B. Lyon, Designer, the work sheet contained the following account balances on May 31:RequiredIf you are using working papers, complete the followi...

Q: The partial work sheet for Ho Consulting for May follows:

The partial work sheet for Ho Consulting for May follows:RequiredIf you are using working papers, complete the following:1. a. Write the owner’s name on the Capital and Drawing T acc...

Q: The completed work sheet for Valerie Insurance Agency as of

The completed work sheet for Valerie Insurance Agency as of December 31 is presented in your Working Papers or in CengageNow, along with the general ledger as of December 31 before adjustments.Require...

Q: Following is the chart of accounts of Sanchez Realty Company:

Following is the chart of accounts of Sanchez Realty Company:Assets111 Cash113 Accounts Receivable115 Supplies117 Prepaid Insurance124 Office FurnitureLiabilities221 Accounts PayableOwner’s Equity311...

Q: Following is the chart of accounts of Smith Financial Services:

Following is the chart of accounts of Smith Financial Services:Assets111 Cash113 Accounts Receivable115 Supplies117 Prepaid Insurance124 Office FurnitureLiabilities221 Accounts PayableOwner’s Equity31...

Q: The journal entries for August, Carley’s Car Care’s second month

The journal entries for August, Carley’s Car Care’s second month of business, have been journalized in the general journal in the Working Papers and in CengageNow. The balances of the accounts as of J...