Questions from College Accounting

Q: Johnson Corporation received a bank statement showing a balance of $15

Johnson Corporation received a bank statement showing a balance of $15,900 as of October 31, 20X1. The firm’s records showed a book balance of $15,572 on October 31. The difference between the two bal...

Q: At Pleasonton Delivery and Courier Service, the following items were found

At Pleasonton Delivery and Courier Service, the following items were found to cause a difference between the bank statement and the firm’s records. Indicate whether each item will affect the bank bala...

Q: Venturi Office Supplies received a bank statement showing a balance of $

Venturi Office Supplies received a bank statement showing a balance of $73,047 as of March 31, 20X1. The firm’s records showed a book balance of $72,987 on March 31. The difference between the two bal...

Q: Flores Company received a bank statement showing a balance of $13

Flores Company received a bank statement showing a balance of $13,000 on November 30, 20X1. During the bank reconciliation process, Flores Company’s accountant noted the following bank errors: 1. A ch...

Q: After returning from a three-day business trip, the accountant

After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity in the company’s checking account online. The activity for...

Q: The hourly rates of four employees of European Enterprises follow, along

The hourly rates of four employees of European Enterprises follow, along with the hours that these employees worked during one week. Determine the gross earnings of each employee.

Q: During one week, four production employees of Morgan Manufacturing Company worked

During one week, four production employees of Morgan Manufacturing Company worked the hours shown below. All these employees receive overtime pay at one and one-half times their regular hourly rate fo...

Q: Using the earnings data given in Exercise 10.3, determine

Using the earnings data given in Exercise 10.3, determine the amount of Medicare tax to be withheld from each employee’s gross pay for December. Assume a 1.45 percent Medicare tax rate and that all sa...

Q: Data about the marital status, withholding allowances, and weekly salaries

Data about the marital status, withholding allowances, and weekly salaries of the four office workers at Ollie’s Office Supply Company follow. Use the tax tables in Figure 10.2 to fi...

Q: 1. Why should managers check the amount spent for overtime?

1. Why should managers check the amount spent for overtime? 2. The new controller for CAR Company, a manufacturing firm, has suggested to management that the business change from paying the factory em...