Quickbooks Online Accounting
3rd Edition
ISBN: 9780357391693
Author: Owen
Publisher: Cengage
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Sue Feria opened a travel agency business on April 5, 2019. A month after she was able to comply with the legal requirements and documents, the business started operation. The following balances were taken on April 30, 2019:
Analyze the above transactions, start with the balances given on April 30.
a) Present an income statement, statement of changes in owner's equity, a properly classified report form of statement of financial position.
Below are several transactions for Scarlet Knight Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions.Required: Assess whether the junior accountant correctly proposes how to record each transaction. If incorrect, provide the correction.
The following accounts and their balances appear in an unadjusted trial balance of CASHEW Company as of December 31, 2021:
What is the total current liabilities to be presented in the statement of financial position as of December 31, 2021?
(Solution must be in good accounting form. Excel format would be good for a good accounting form! Thanks a lot, Tutor! I hope you can help me)
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- Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2016, follows: The following business transactions were completed by Elite Realty during April 2016: Instructions 1. Record the April 1, 2016, balance of each account in the appropriate balance column of a four-column account, write Balance in the item section, and place a check mark () in the Posting Reference column. 2. Journalize the transactions for April in a two-column journal beginning on Page 18. Journal entry explanations may be omitted. 3. Post to the ledger, extending the account balance to the appropriate balance column after each posting. 4. Prepare an unadjusted trial balance of the ledger as of April 30, 2016. 5. Assume that the April 30 transaction for salaries and commissions should have been 19,100. (a) Why did the unadjusted trial balance in (4) balance? (b) Journalize the correcting entry. (c) Is this error a transposition or slide?arrow_forwardIf the errors were discovered in January 2018, what must be the entry to adjust 2017 Net Income/Retained Earnings assuming the books in 2017 are already closed? (Show your solutions, including the adjusting journal entry, in your attached working paper but just put the total debits/credits in the google form). *arrow_forward
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