Questions from College Accounting

Q: 1. Open the general ledger accounts and accounts receivable ledger accounts

1. Open the general ledger accounts and accounts receivable ledger accounts indicated below. 2. Post the entries from the general journal in Problem 7.2B to the appropriate accounts in the general led...

Q: The Urban Florist is a wholesale shop that sells flowers, plants

The Urban Florist is a wholesale shop that sells flowers, plants, and plant supplies. Transactions involving sales and cash receipts for the firm during May 20X1 follow. The firm sells its merchandise...

Q: 1. Open the general ledger accounts and accounts receivable ledger accounts

1. Open the general ledger accounts and accounts receivable ledger accounts indicated below. Enter the balances as of May 1, 20X1. 2. Post the entries from the general journal in Problem 7.4B to the a...

Q: The Olde English China Shop sells china, stemware, and other

The Olde English China Shop sells china, stemware, and other gift items. Sales to retail customers are subject to an 8 percent sales tax. The firm sells its merchandise for cash; to customers using ba...

Q: Floral Delights is a retail store that sells garden equipment, furniture

Floral Delights is a retail store that sells garden equipment, furniture, and supplies. The company began operations June 1, 20X1. The firm purchases its merchandise for cash and on open account. Duri...

Q: Sarah’s Card and Supplies Shop is a retail card, novelty,

Sarah’s Card and Supplies Shop is a retail card, novelty, and business supply store. Sarah’s Card and Supplies Shop commenced business on April 1, 20X1. The firm pu...

Q: 1. Open the general ledger accounts and accounts payable ledger accounts

1. Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balance of Cash as of April 1, 20X1. 2. Post the entries in Problem 8.2B from the general journal to...

Q: Generally accepted accounting principles require that the principal amount due in the

Generally accepted accounting principles require that the principal amount due in the upcoming year on long-term debt be presented as a current liability on the balance sheet. This requires the accoun...

Q: Dental Supplies, Inc., is a wholesale supplier of dental supplies

Dental Supplies, Inc., is a wholesale supplier of dental supplies and materials that commenced business on August 1, 20X1. The company purchases merchandise for cash and on open account. In August 20X...

Q: 1. Open the general ledger accounts and accounts payable ledger accounts

1. Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balances as of August 1, 20X1. 2. Post the entries in Problem 8.4B to the appropriate accounts in th...