Questions from Financial Accounting

Q: Refer toExercise 2-27B. In Exercise 2-

Refer toExercise 2-27B. In Exercise 2-27B Gary Smith opened a medical practice specializing in surgery. During the first month of operation (July), the business, titled Gary Smith, Professional Corpo...

Q: All of the following are internal control procedures except a.

All of the following are internal control procedures except a. Electronic devices b. Assignment of responsibilities c. Internal and external audits d. Sarbanes-Oxley reforms

Q: Double TreeCellular, Inc., completed the following transactions during September 2012

Double TreeCellular, Inc., completed the following transactions during September 2012, its first month ofoperations: Sep 1 Received $19,900 and issued common stock. 2 Purchased $400 of office supplies...

Q: Refer to Exercise 2-29B. In Exercise 2

Refer to Exercise 2-29B. In Exercise 2-29B Double TreeCellular, Inc., completed the following transactions during September 2012, its first month ofoperations: Sep 1 Received $19,900 and issued commo...

Q: The first seven transactionsof Gallagher Advertising, Inc., have been posted

The first seven transactionsof Gallagher Advertising, Inc., have been posted to the company’s accounts as follows: Requirement Prepare the journal entries that served as the source...

Q: The accounts of Custom PoolService, Inc., follow with their normal

The accounts of Custom PoolService, Inc., follow with their normal balances at June 30, 2012. The accounts are listed in noparticular order. Requirements 1. Prepare the company’s t...

Q: The trial balance of Doyle, Inc.,at September 30,

The trial balance of Doyle, Inc.,at September 30, 2012, does not balance. The accounting records hold the following errors: a. Recorded a $600 cash revenue transaction by debiting Accounts Receivabl...

Q: Set upthe following T-accounts: Cash, Accounts Receivable,

Set upthe following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, AccountsPayable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense. Recordthe fol...

Q: On August 31, 2012, Nancy Totten borrowed $5,

On August 31, 2012, Nancy Totten borrowed $5,000 from First Interstate Bank. Totten signed a note payable, promising to pay the bank principal plus interest on August 31, 2013. The interest rate on th...

Q: Refer to Exercise 2-34B. In Exercise 2

Refer to Exercise 2-34B. In Exercise 2-34B Set upthe following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, AccountsPayable, Common Stock, Dividends, Service Revenue, Sal...