Questions from Financial Accounting

Q: Jose Loder established Bronco Consulting on August 1, 2018. The

Jose Loder established Bronco Consulting on August 1, 2018. The effect of each transaction and the balances after each transaction for August follow: Instructions: 1. Prepare an income statement for...

Q: On October 1, 2018, Jay Pryor established an interior decorating

On October 1, 2018, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business: Oct. 1. Jay transferred...

Q: On June 30, 2018, the balances of the accounts appearing

On June 30, 2018, the balances of the accounts appearing in the ledger of Simkins Company are as follows: Instructions: 1. Does Simkins Company use a periodic or perpetual inventory system? Explain....

Q: Tech Support Services has the following unadjusted trial balance as of January

Tech Support Services has the following unadjusted trial balance as of January 31, 2018: The debit and credit totals are not equal as a result of the following errors: A. The cash entered on the tri...

Q: Ken Jones, an architect, organized Jones Architects on April 1

Ken Jones, an architect, organized Jones Architects on April 1, 2018. During the month, Jones Architects completed the following transactions: A. Transferred cash from a personal bank account to an ac...

Q: On August 1, 2018, Rafael Masey established Planet Realty,

On August 1, 2018, Rafael Masey established Planet Realty, which completed the following transactions during the month: A. Rafael Masey transferred cash from a personal bank account to an account to b...

Q: Crazy Mountain Outfitters Co., an outfitter store for fishing treks,

Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following un Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following un Crazy adju...

Q: The Signage Company specializes in the maintenance and repair of signs,

The Signage Company specializes in the maintenance and repair of signs, such as billboards. On March 31, 2018, the accountant for The Signage Company prepared the trial balances shown at the top of th...

Q: Reece Financial Services Co., which specializes in appliance repair services,

Reece Financial Services Co., which specializes in appliance repair services, is owned and operated by Joni Reece. Reece Financial Services’ accounting clerk prepared the following u...

Q: Dynamic Weight Loss Co. offers personal weight reduction consulting services to

Dynamic Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on June 30, 2018, the end of the fiscal year, the balances of selec...