Questions from General Accounting


Q: The bookkeeper for Willingham Corporation made these errors in journalizing and posting

The bookkeeper for Willingham Corporation made these errors in journalizing and posting. 1. A credit posting of $400 to Accounts Receivable was omitted. 2. A debit posting of $750 for Prepaid Insuranc...

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Q: The trial balance of Goodwin Company includes the following balance sheet accounts

The trial balance of Goodwin Company includes the following balance sheet accounts. Identify the accounts that might require adjustment. For each account that requires adjustment, indicate (1) the ty...

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Q: The accounts in the ledger of Bastin Delivery Service contain the following

The accounts in the ledger of Bastin Delivery Service contain the following balances on July 31, 2014. Instructions: (a) Prepare a trial balance with the accounts arranged as illustrated in the chapt...

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Q: Manning Company entered into these transactions during May 2014, its first

Manning Company entered into these transactions during May 2014, its first month of operations. 1. Stockholders invested $40,000 in the business in exchange for common stock of the company. 2. Purchas...

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Q: During 2014, its first year of operations as a delivery service

During 2014, its first year of operations as a delivery service, Persinger Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $100,000 in cash...

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Q: A tabular analysis of the transactions made during August 2014 by Colaw

A tabular analysis of the transactions made during August 2014 by Colaw Company during its first month of operations is shown below. Each increase and decrease in stockholders’ equit...

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Q: The tabular analysis of transactions for Colaw Company is presented in E4

The tabular analysis of transactions for Colaw Company is presented in E4. Data given in E4: A tabular analysis of the transactions made during August 2014 by Colaw Company during its first month of...

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Q: Selected transactions for Home Place, an interior decorator corporation, in

Selected transactions for Home Place, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $15,000 in cash. 2. Purchased used car for $10...

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Q: This information relates to Crofoot Real Estate Agency. Oct.

This information relates to Crofoot Real Estate Agency. Oct. 1 Stockholders invest $30,000 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary...

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Q: Transaction data for Crofoot Real Estate Agency are presented in E7.

Transaction data for Crofoot Real Estate Agency are presented in E7. Data given in E-7: This information relates to Crofoot Real Estate Agency. Oct. 1 Stockholders invest $30,000 in exchange for co...

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