Questions from General Accounting

Q: The accounting records of Tama Co. show the following assets and

The accounting records of Tama Co. 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 land for $300...

Q: Yi Min started an engineering firm called Min Engineering. He began

Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $18,000 cash. After those seven transac...

Q: Roshaun Gould started a web consulting firm called Gould Solutions. He

Roshaun Gould started a web consulting firm called Gould Solutions. He began operations and completed seven transactions in April that resulted in the following accounts, which all have normal balance...

Q: For each of the following entries, enter the letter of the

For each of the following entries, enter the letter of the explanation that most closely describes it in the space beside each entry. (You can use letters more than once.) A. To record receipt of unea...

Q: The unadjusted trial balance and information for the accounting adjustments of Noseworthy

The unadjusted trial balance and information for the accounting adjustments of Noseworthy Investigators follow. Each team member involved in this project is to assume one of the four responsibilities...

Q: For each of the following entries, enter the letter of the

For each of the following entries, enter the letter of the explanation that most closely describes it in the space beside each entry. (You can use letters more than once.) A. To record payment of a pr...

Q: Arnez Co. follows the practice of recording prepaid expenses and unearned

Arnez Co. follows the practice of recording prepaid expenses and unearned revenues in balance sheet accounts. The company’s annual accounting period ends on December 31, 2015. The fo...

Q: Natsu Co. follows the practice of recording prepaid expenses and unearned

Natsu Co. follows the practice of recording prepaid expenses and unearned revenues in balance sheet accounts. The company’s annual accounting period ends on October 31, 2015. The fol...

Q: Wells Technical Institute (WTI), a school owned by Tristana Wells

Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. It...

Q: Following is the unadjusted trial balance for Alonzo Institute as of December

Following is the unadjusted trial balance for Alonzo Institute as of December 31, 2015, which initially records prepaid expenses and unearned revenues in balance sheet accounts. The Institute provides...