Questions from Financial Accounting

Q: Refer to Exercises 2-30B and 2-31B.

Refer to Exercises 2-30B and 2-31B. Requirements 1. Post the entries to the ledger, using T-accounts. Key transactions by date. 2. Prepare the trial balance of Dr. Sue Smith, P.C., at May 31, 2016...

Q: The first seven transactions of Big Horn Advertising, Inc., have

The first seven transactions of Big Horn Advertising, Inc., have been posted to the company’s accounts: Requirement 1. Prepare the journal entries that served as th...

Q: The accounts of Deluxe Deck Service, Inc., follow with their

The accounts of Deluxe Deck Service, Inc., follow with their normal balances at April 30, 2016. The accounts are listed in no particular order. Requirements 1. Prepare the company’...

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

The trial balance of Carver, Inc., at September 30, 2016, does not balance. The accounting records hold the following errors: a. Recorded a $200 cash revenue transaction by debiting Accounts Receiv...

Q: Set up the following T-accounts: Cash, Accounts Receivable

Set up the following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent Expense. Record the...

Q: Refer to Exercise 2-36B. Requirements 1

Refer to Exercise 2-36B. Requirements 1. After recording the transactions in Exercise E2-36B, and assuming they all occurred in the month of December 2016, prepare the trial balance of Eric Newton,...

Q: Assume that Wolf Products Company reported the following summarized data at May

Assume that Wolf Products Company reported the following summarized data at May 31, 2016. Accounts appear in no particular order; dollar amounts are in millions. Requirements 1. Solve for Cash. 2....

Q: During 2016, Nicholson Network, Inc., which designs network servers

During 2016, Nicholson Network, Inc., which designs network servers, earned revenues of $800 million. Expenses totaled $570 million. Nicholson collected all but $21 million of the revenues and paid $6...

Q: An accountant made the following adjustments at December 31, the end

An accountant made the following adjustments at December 31, the end of the accounting period: a. Prepaid insurance, beginning, $300. Payments for insurance during the period, $2,900. Prepaid insuran...

Q: Rankle Corporation experienced four situations for its supplies. Compute the amounts

Rankle Corporation experienced four situations for its supplies. Compute the amounts that have been left blank for each situation. For situations 1 and 2, journalize the needed transaction. Consider e...