Questions from Financial Accounting


Q: The cash records and bank statement for the month of May for

The cash records and bank statement for the month of May for Diaz Entertainment are shown below. Additional information: a. The difference in the beginning balances in the company’s...

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Q: Below is a summary of all transactions of Pixar Toy Manufacturing for

Below is a summary of all transactions of Pixar Toy Manufacturing for the month of August 2021. Required: Prepare a statement of cash flows for the month of August 2021, properly classifying each of t...

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Q: Rocky owns and operates Balboa’s Gym located in Philadelphia. The following

Rocky owns and operates Balboa’s Gym located in Philadelphia. The following transactions occur for the month of October: 1. October 2 Receive membership dues for the month of October totaling $8,500....

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Q: Scenario 1: During 2021, IBM provides consulting services on its

Scenario 1: During 2021, IBM provides consulting services on its mainframe computer for $11,000 on account. The customer does not pay for those services until 2022. Scenario 2: On January 1, 2021, Gol...

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Q: Financial information for American Eagle is presented in Appendix A at the

Financial information for American Eagle is presented in Appendix A at the end of the book. Using the financial information presented in Appendix A, answer the following. Required: 1. What is the par...

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Q: Outdoor Expo provides guided fishing tours. The company charges $300

Outdoor Expo provides guided fishing tours. The company charges $300 per person but offers a 20% discount to parties of four or more. Consider the following transactions during the month of May. May 2...

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Q: The following events occur for The Underwood Corporation during 2021 and 2022

The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations. June 12, 2021 Provide services to customers on account for $41,000. September 17, 202...

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Q: Pearl E. White Orthodontist specializes in correcting misaligned teeth. During

Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $590,000. Of this amount, $80,000 remains receivable at the end of the year....

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Q: In an effort to boost sales in the current year, Roy’s

In an effort to boost sales in the current year, Roy’s Gym has implemented a new program where members do not have to pay for their annual membership until the end of the year. The p...

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Q: Willie Cheetum is the CEO of Happy Foods, a distributor of

Willie Cheetum is the CEO of Happy Foods, a distributor of produce to grocery store chains throughout the Midwest. At the end of the year, the company’s accounting manager provides W...

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