Questions from College Accounting


Q: French Taylor is a new staff accountant for Fashion House Beauty Supply

French Taylor is a new staff accountant for Fashion House Beauty Supply. He has asked you to review the financial statements prepared for April to find and correct any errors. Review the income statem...

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Q: Lens Queen is a retail store that sells cameras and photography supplies

Lens Queen is a retail store that sells cameras and photography supplies. The firm’s credit purchases and purchases returns and allowances transactions for June 20X1 appear below, al...

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Q: This problem is a continuation of Problem 8.1A.

This problem is a continuation of Problem 8.1A. INSTRUCTIONS 1. Set up an accounts payable subsidiary ledger for Lens Queen. Open an account for each of the creditors listed below and enter the balanc...

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Q: The Old English Garden Shop is a retail store that sells garden

The Old English Garden Shop is a retail store that sells garden equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for July are listed below. The general led...

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Q: Office Plus is a retail business that sells office equipment, furniture

Office Plus is a retail business that sells office equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for September are shown below. The general ledger accou...

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Q: Car Geek is a retail store that sells car care products over

Car Geek is a retail store that sells car care products over the Internet. The firm’s cash receipts for February and the general ledger accounts used to record these transactions are...

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Q: The cash payments of The Aristocrats Jewels, a retail business,

The cash payments of The Aristocrats Jewels, a retail business, for June and the general ledger accounts used to record these transactions appear below. INSTRUCTIONS 1. Open the general ledger account...

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Q: Awesome Sounds is a wholesale business that sells musical instruments. Transactions

Awesome Sounds is a wholesale business that sells musical instruments. Transactions involving sales and cash receipts for the firm during April 20X1 follow, along with the general ledger accounts used...

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Q: The Hike and Bike Outlet is a retail store. Transactions involving

The Hike and Bike Outlet is a retail store. Transactions involving purchases and cash payments for the firm during June 20X1 are listed below, as are the general ledger accounts used to record these t...

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Q: On May 2, 20X1, PHF Vacations received its April bank

On May 2, 20X1, PHF Vacations received its April bank statement from First City Bank and Trust. Enclosed with the bank statement, which appears below, was a debit memorandum for $210 that covered an N...

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