Questions from Financial Accounting

Q: Amounts of the assets and liabilities of David Austin Realty Company,

Amounts of the assets and liabilities of David Austin Realty Company, as of January 31, 2016, are as follows. Also included are revenue, expense, and selected stockholders’ equity &i...

Q: This exercise should be used with Exercise 1-36B.

This exercise should be used with Exercise 1-36B. Requirements 1. Prepare the income statement of David Austin Realty Company for the year ended January 31, 2016. 2. What amount of dividends did D...

Q: Assume Earl Coffee Roasters Corporation ended the month of August 2016 with

Assume Earl Coffee Roasters Corporation ended the month of August 2016 with these data: Requirement 1. Prepare the income statement and the statement of retained earnings of Earl Coffee Roasters Co...

Q: Refer to the data in Exercise 1-38B.

Refer to the data in Exercise 1-38B. Requirement 1. Prepare the balance sheet of Earl Coffee Roasters Corporation at August 31, 2016. From Exercise 1-38B Assume Earl Coffee Roasters Corporation e...

Q: Refer to the data in Exercises 1-38B and 1-

Refer to the data in Exercises 1-38B and 1-39B. Requirement 1. Prepare the statement of cash flows of Earl Coffee Roasters Corporation for the month ended August 31, 2016. Using Exhibit 1-11 as a m...

Q: This exercise should be used in conjunction with Exercises 1-38B

This exercise should be used in conjunction with Exercises 1-38B through 1-40B. The owner of Earl Coffee Roasters Corporation now seeks your advice as to whether she should cease operations or continu...

Q: During 2016, Young Company earned revenues of $150 million.

During 2016, Young Company earned revenues of $150 million. Young incurred, during that same year, salary expense of $30 million, rent expense of $14 million, and utilities expense of $29 million. You...

Q: Dr. Kristine Cohen opened a medical practice specializing in physical therapy

Dr. Kristine Cohen opened a medical practice specializing in physical therapy. During the first month of operation (July), the business, titled Dr. Kristine Cohen, Professional Corporat...

Q: Refer to Exercise 2-19A. Requirement 1

Refer to Exercise 2-19A. Requirement 1. Record the transactions in the journal of Dr. Kristine Cohen, P.C. List the transactions by date and give an explanation for each transaction. From Exercise...

Q: Refer to Exercises 2-19A and 2-20A.

Refer to Exercises 2-19A and 2-20A. Requirements 1. After journalizing the transactions of Exercise 2-19A, post the entries to the ledger, using T-accounts. Key transactions by date. 2. Prepare th...