Questions from General Accounting


Q: Prepare general journal entries to record the transactions below for Spade Company

Prepare general journal entries to record the transactions below for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. S...

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Q: Use the following information to compute profit margin for each separate company

Use the following information to compute profit margin for each separate company a through e. Net Income Net Sales a. $ 4,361 $ 44,500 b. 97,706 398,800 c. 111,281 257,000 d. $65,646 $1,458,8...

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Q: Ricardo Construction began operations on December 1. In setting up its

Ricardo Construction began operations on December 1. In setting up its accounting procedures, the company decided to debit expense accounts when it prepays its expenses and to credit revenue accounts...

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Q: Costanza Company experienced the following events and transactions during July.

Costanza Company experienced the following events and transactions during July. July 1 Received $3,000 cash in advance of performing work for Vivian Solana. 6 Received $7,500 cash in advance of perfo...

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Q: Determine the missing amounts in each of these four separate situations a

Determine the missing amounts in each of these four separate situations a through d.

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Q: The following three separate situations require adjusting journal entries to prepare financial

The following three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both the April 30 adjusting entry and the subseque...

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Q: Prepare adjusting journal entries for the year ended (date of)

Prepare adjusting journal entries for the year ended (date of) December 31, 2015, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also ass...

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Q: Samsung (Samsung.com) is a leading global manufacturer,

Samsung (Samsung.com) is a leading global manufacturer, and it competes to varying degrees with both Apple and Google. Key financial figures for Samsung follow. Required 1. Identify any concerns you...

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Q: For each of the following separate cases, prepare adjusting entries required

For each of the following separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31, 2015. (Assume that prepaid expenses are initially recorde...

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Q: Following are two income statements for Alexis Co. for the year

Following are two income statements for Alexis Co. for the year ended December 31. The left column is prepared before any adjusting entries are recorded, and the right column includes the effects of a...

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