Questions from College Accounting

Q: On June 1 of this year, J. Larkin, Optometrist, established

On June 1 of this year, J. Larkin, Optometrist, established the Larkin Eye Clinic. The clinic’s account names are presented below. Transactions completed during the month follow.a. L...

Q: In October, A. Nguyen established an apartment rental service. The

In October, A. Nguyen established an apartment rental service. The account headings are presented below. Transactions completed during the month of October follow.a. Nguyen deposited $25,000 in a bank...

Q: B. Kelso established Computer Wizards during November of this year.

B. Kelso established Computer Wizards during November of this year. The accountant prepared the following chart of accounts:The following transactions occurred during the month:a. Kelso deposited $45,...

Q: S. Myers, a speech therapist, opened a clinic in the

S. Myers, a speech therapist, opened a clinic in the name of Myers Clinic. Her accountant prepared the following chart of accounts:The following transactions occurred during June of this year:a. Myers...

Q: On May 1, B. Bangle opened Self-Wash Laundry. His accountant

On May 1, B. Bangle opened Self-Wash Laundry. His accountant listed the following chart of accounts:CashSuppliesPrepaid InsuranceEquipmentFurniture and FixturesAccounts PayableB. Bangle, CapitalB. Ban...

Q: J. Carrie established Carrie’s Photo Tours during June of this

J. Carrie established Carrie’s Photo Tours during June of this year. The accountant prepared the following chart of accounts:The following transactions occurred during the month of J...

Q: D. Johnston, a physical therapist, opened Johnston’s Clinic. His accountant

D. Johnston, a physical therapist, opened Johnston’s Clinic. His accountant provided the following chart of accounts:The following transactions occurred during July of this year:a. J...

Q: On July 1, K. Resser opened Resser’s Business Services. Resser’s

On July 1, K. Resser opened Resser’s Business Services. Resser’s accountant listed the following chart of accounts:CashSuppliesPrepaid InsuranceEquipmentFurniture and FixturesAccounts PayableK. Resser...

Q: On July 1 of this year, R. Green established the

On July 1 of this year, R. Green established the Green Rehab Clinic. The organization’s account headings are presented below. Transactions completed during the month of July follow.a...

Q: S. Davis, a graphic artist, opened a studio for her

S. Davis, a graphic artist, opened a studio for her professional practice on August 1. The account headings are presented below. Transactions completed during the month follow.a. Davis deposited $20,0...