Questions from General Accounting

Q: Upton Corporation has the following transactions during August of the current year

Upton Corporation has the following transactions during August of the current year. Indicate (a) the basic analysis and (b) the debit–credit. Aug. 1 Issues shares of common stock to investors in ex...

Q: Suppose the following items were taken from the December 31, 2014

Suppose the following items were taken from the December 31, 2014, assets section of the Boeing Company balance sheet. (All dollars are in millions.) Instructions: Prepare the assets section of a cla...

Q: These items are taken from the financial statements of Donavan Co.

These items are taken from the financial statements of Donavan Co. at December 31, 2014. Buildings …………………………………………………. $105,800 Accounts receivable ………………………………………12,600 Prepaid insurance ……………………………...

Q: These financial statement items are for Barfield Corporation at year-end

These financial statement items are for Barfield Corporation at year-end, July 31, 2014. Salaries and wages payable ………………………………. $ 2,080 Salaries and wages expense ………………………………. 57,500 Supplies expe...

Q: The chief financial officer (CFO) of Grienke Corporation requested that

The chief financial officer (CFO) of Grienke Corporation requested that the accounting department prepare a preliminary balance sheet on December 30, 2014, so that the CFO could get an idea of how the...

Q: Suppose the following data were taken from the 2014 and 2013 financial

Suppose the following data were taken from the 2014 and 2013 financial statements of American Eagle Outfitters. (All dollars are in thousands.) Instructions: Perform each of the following. (a) Calcul...

Q: Selected transactions for Warner Advertising Company, Inc., are listed here

Selected transactions for Warner Advertising Company, Inc., are listed here. 1. Issued common stock to investors in exchange for cash received from investors. 2. Paid monthly rent. 3. Received cash fr...

Q: Transaction data and journal entries for Crofoot Real Estate Agency are presented

Transaction data and journal entries for Crofoot Real Estate Agency are presented in E3-7 and E3-8. Data given in E-7: This information relates to Crofoot Real Estate Agency. Oct. 1 Stockholders in...

Q: : The T-accounts below summarize the ledger of Wheeling Gardening

The T-accounts below summarize the ledger of Wheeling Gardening Company, Inc. at the end of the first month of operations. Instructions: (a) Prepare the journal entries (including explanations) that...

Q: Selected transactions from the journal of Eberle Inc. during its first

Selected transactions from the journal of Eberle Inc. during its first month of operations are presented here. Instructions: (a) Post the transactions to T-accounts. (b) Prepare a trial balance at Au...