Questions from General Accounting

Q: Karla Tanner opens a web consulting business called Linkworks and completes the

Karla Tanner opens a web consulting business called Linkworks and completes the following transactions in its first month of operations. April 1 Tanner invests $80,000 cash along with office equipmen...

Q: Humble Management Services opens for business and completes these transactions in September

Humble Management Services opens for business and completes these transactions in September. Sept. 1 Henry Humble, the owner, invests $38,000 cash along with office equipment valued at $15,000 in the...

Q: Aracel Engineering completed the following transactions in the month of June.

Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equip...

Q: Assume that one of your classmates states that a company’s books should

Assume that one of your classmates states that a company’s books should be ongoing and therefore not closed until that business is terminated. Write a half-page memo to this classmate explaining the c...

Q: At the beginning of April, Bernadette Grechus launched a custom computer

At the beginning of April, Bernadette Grechus launched a custom computer solutions company called Softworks. The company had the following transactions during April. a. Bernadette Grechus invested $65...

Q: Denzel Brooks opens a web consulting business called Venture Consultants and completes

Denzel Brooks opens a web consulting business called Venture Consultants and completes the following transactions in March. March 1 Brooks invested $150,000 cash along with $22,000 in office equipmen...

Q: Zucker Management Services opens for business and completes these transactions in November

Zucker Management Services opens for business and completes these transactions in November. Nov. 1 Matt Zucker, the owner, invested $30,000 cash along with $15,000 of office equipment in the company....

Q: Business transactions completed by Hannah Venedict during the month of September are

Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $60,000 cash along with office equipment valued at $25,000 in a new sole proprieto...

Q: Nuncio Consulting completed the following transactions during June. a.

Nuncio Consulting completed the following transactions during June. a. Armand Nuncio, the owner, invested $35,000 cash along with office equipment valued at $11,000 in the new company. b. The company...

Q: The accounting records of Nettle Distribution show the following assets and liabilities

The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2014 and 2015. Late in December 2015, the business purchased a small office building and lan...