Questions from College Accounting


Q: For each of the following transactions, identify the appropriate section of

For each of the following transactions, identify the appropriate section of the statement of cash flows (OA, Operating; IA, Investing; FA, Financing; and NC, Noncash). Use the direct method.

See Answer

Q: Complete a trend analysis from the following data of Band Corporation using

Complete a trend analysis from the following data of Band Corporation using 2015 as the base year. (Round to the nearest percent.)

See Answer

Q: On November 10, 201X, a voucher for $1,

On November 10, 201X, a voucher for $1,030 for merchandise purchased on account from August Company was prepared by John Corporation. On November 14, John decided to return merchandise due to poor wor...

See Answer

Q: On June 15, 201X, James Company prepared voucher no.

On June 15, 201X, James Company prepared voucher no. 89 to record the purchase of equipment on account for $940. On June 18, James Company decided to pay $940 in two equal installments. (Voucher nos....

See Answer

Q: Complete the following table. Indicate whether a debit or credit results

Complete the following table. Indicate whether a debit or credit results in an increase to the account balance.

See Answer

Q: The cost of rent of $8,300 for Wilder Company

The cost of rent of $8,300 for Wilder Company is appropriated to each department based on its sales. Given the following, assign the cost of rent to each department:

See Answer

Q: Complete the assignment of fire insurance expense to each department.

Complete the assignment of fire insurance expense to each department.

See Answer

Q: On February 6, 201X, Mark Sullivan made the journal entry

On February 6, 201X, Mark Sullivan made the journal entry in Figure 3.33 to record the purchase on account of office equipment priced at $1,200. This journal entry had not yet been posted when the err...

See Answer

Q: Given the following, calculate net income: /

Given the following, calculate net income:

See Answer

Q: Classify each of the following as raw material, direct labor,

Classify each of the following as raw material, direct labor, or overhead: a. The steel in making automobiles b. The rent for a factory c. The wages of a line employee d. A manufacturing foreman’s sa...

See Answer