Questions from Financial Accounting

Q: Journalize the adjusting entries at November 30, the end of the

Journalize the adjusting entries at November 30, the end of the accounting period. Omit explanations. a. Employee salaries owed for Monday through Thursday of a five-day workweek, $7,500 b. Unearned s...

Q: The following transactions occurred during November 2016 for Specialty T-Shirts

The following transactions occurred during November 2016 for Specialty T-Shirts, Inc.:
Requirement 1. Journalize the November transactions for Specialty T-Shirts, Inc. Omit explanations.

Q: Presented here is information for Eliason, Inc., for the year

Presented here is information for Eliason, Inc., for the year ended August 31, 2016.
Requirements 1. What is the beginning stockholders’ equity of Eliason, Inc.? 2. What is the ending stockholders...

Q: Amanda Bradford practices law under the business title Amanda Bradford, Attorney

Amanda Bradford practices law under the business title Amanda Bradford, Attorney at Law, Inc. During June, her law practice engaged in the following transactions:
Bradford’s business uses the foll...

Q: The adjusting entries for the following adjustments were omitted at period-

The adjusting entries for the following adjustments were omitted at period-end: a. Prepaid rent expired, $1,250 b. Depreciation, $1,100 c. Employee salaries owed for Monday through Wednesday of a five...

Q: Consider the following incomplete table of a merchandiser’s profit data:

Consider the following incomplete table of a merchandiser’s profit data:
Requirement 1. Complete the table by computing the missing amounts.

Q: Shanna Peters worked as an accountant at a local accounting firm for

Shanna Peters worked as an accountant at a local accounting firm for five years after graduating from college. Recently, she opened her own accounting practice, which she operates as a corporation. Th...

Q: First Choice Fabrication, Inc., engaged in the following business transactions

First Choice Fabrication, Inc., engaged in the following business transactions during May 2016:
First Choice Fabrication, Inc., uses the following accounts: Cash, Accounts Receivable, Supplies, Bu...

Q: Journalize the adjusting entry needed at October 31, the fiscal year

Journalize the adjusting entry needed at October 31, the fiscal year-end, for each of the following independent situations. No other adjusting entries have been made forthe year. a. On August 1, we co...

Q: The account balances for Grease Monkey Auto Supply, Inc., for

The account balances for Grease Monkey Auto Supply, Inc., for the year ended December 31, 2016, are presented next in random order:
Requirements 1. Prepare Grease Monkey Auto Supply, Inc.’s single...