Questions from General Accounting

Q: The following is selected financial information for Safari Company as of December

The following is selected financial information for Safari Company as of December 31, 2015. Required Prepare the balance sheet for Safari Company as of December 31, 2015.

Q: The following is selected financial information for Edison Energy Company for the

The following is selected financial information for Edison Energy Company for the year ended December 31, 2015: revenues, $55,000; expenses, $40,000; net income, $15,000. Required Prepare the 2015 ca...

Q: Selected financial information for Solar Company for the year ended December 31

Selected financial information for Solar Company for the year ended December 31, 2015, follows. Required Prepare the 2015 income statement for Solar Company.

Q: Following is selected financial information for Kojo Company for the year ended

Following is selected financial information for Kojo Company for the year ended December 31, 2015. Required Prepare the 2015 statement of owner’s equity for Kojo Company.

Q: Following is selected financial information of Audi Company for the year ended

Following is selected financial information of Audi Company for the year ended December 31, 2015. Required Prepare the 2015 statement of owner’s equity for Audi Company.

Q: Selected financial information of Banji Company for the year ended December 31

Selected financial information of Banji Company for the year ended December 31, 2015, follows. Required Prepare the 2015 statement of cash flows for Banji Company.

Q: Complete the following table with either a yes or no regarding the

Complete the following table with either a yes or no regarding the attributes of a proprietorship, partnership and corporation.

Q: a. Total assets of Charter Company equal $700,000

a. Total assets of Charter Company equal $700,000 and its equity is $420,000. What is the amount of its liabilities? b. Total assets of Martin Marine equal $500,000 and its liabilities and equity amou...

Q: a. On July 1, 2015, Lopez Company paid $

a. On July 1, 2015, Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2015. Prepare the journal...

Q: a. Barga Company purchases $20,000 of equipment on

a. Barga Company purchases $20,000 of equipment on January 1, 2015. The equipment is expected to last five years and be worth $2,000 at the end of that time. Prepare the entry to record one year’s dep...