Questions from College Accounting

Q: What steps are followed in posting from the purchases journal to the

What steps are followed in posting from the purchases journal to the general ledger?

Q: Rogerson Company has 40,000 shares of $2 par common

Rogerson Company has 40,000 shares of $2 par common stock outstanding. On July 1, the board of directors declared a two-for-one stock split. Prepare a memorandum entry in the general journal indicatin...

Q: Womack Company had the following balances and results for the current calendar

Womack Company had the following balances and results for the current calendar year: Retained earnings, January 1 ……………………...………………. $80,000 Cash dividends declared ……………………………………………. 15,000 Net inco...

Q: During the year ended December 31, 20-2,

During the year ended December 31, 20-2, Tatu Company completed the following selected transactions: Apr. 15 estimated that its 20-2 income tax will be $160,000. Based on this estimate, it will make f...

Q: During the year ended December 31, 20--, Baggio Company completed

During the year ended December 31, 20--, Baggio Company completed the following transactions: Apr. 15 Declared a semiannual dividend of $0.65 per share on preferred stock and $0.45 per share on common...

Q: Underwriters issued the following bonds: Date of issue and

Underwriters issued the following bonds: Date of issue and sale: ……………………………………………………………. April 1, 20-1 Principal amount: ……………………………………………………………………… $400,000 Sale price of bonds: …………………………………………………...

Q: Brandon, Inc., issued the following bonds at a discount:

Brandon, Inc., issued the following bonds at a discount: Date of issue and sale: ………………………………………………………… April 1, 20-1 Principal amount: ………………………………………………………………….. $600,000 Sale price of bonds: ……………...

Q: Blackwell Company issued the following bonds at a premium:

Blackwell Company issued the following bonds at a premium: Date of issue and sale: …………………………………………………………………… March 1, 20-1 Principal amount: ………………………………………………………………………………… $500,000 Sale price of bo...

Q: Ellis & Co. issued the following bonds at a discount:

Ellis & Co. issued the following bonds at a discount: Date of issue and sale: ……………………………………………………………….. April 1, 20-1 Principal amount: ……………………………………………………………………….. $400,000 Sale price of bonds: ……...

Q: Bryant and Nelson Company issued the following bonds at a premium:

Bryant and Nelson Company issued the following bonds at a premium: Date of issue and sale: ………………………………………………………. May 1, 20-1 Principal amount: ………………………………………………………………… $500,000 Sale price of bonds:...