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Acc 100 Exercises.2

  • Date Submitted: 03/30/2016 10:18 AM
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ACC 100 Exercises.2
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Brief Exercise 2-1
For each of the following accounts, indicate the effects of a debit and a credit on the accounts and the normal balance of the account.
Brief Exercise 2-3

Transactions for the George Lynch Company for the month of June are presented below.
June 1 George Lynch invests $5,000 cash in a small welding business of which he is the sole proprietor.
2 Purchases equipment on account for $2,100.
3 $800 cash is paid to landlord for June rent.
12 Sends a bill to M. Rodero for $300 for welding work performed on account.
Brief Exercise 2-10

An inexperienced bookkeeper prepared the following trial balance.
Brief Exercise 2-7

Kahl Enterprises had the following selected transactions
Janet Miyoshi has prepared the following list of statements about the general ledger.

Identify each statement as true or false.
Exercise 2-10 (Part Level Submission)

The T-accounts below summarize the ledger of Zimmer Landscaping Company at the end of the first month of operations.
Brief Exercise 3-2
Moteki Company accumulates the following adjustment data at December 31.

Indicate the type of adjustment (prepaid expenses, accrued revenues and so on), and the status of accounts before adjustment (overstated or understated).
Brief Exercise 3-7

The bookkeeper for Bradbury Company asks you to prepare the following accrued adjusting entries at December
Brief Exercise 3-8
The trial balance of Yewlett Company includes the following balance sheet accounts, which may require adjustment. For each account that requires adjustment, indicate the type of adjusting entry (prepaid expenses, unearned revenues, accrued revenues, and accrued expenses) and the related account in the adjusting entry.

Brief Exercise 3-9
The adjusted trial balance of Parsons Company at December 31, 2014, includes the following accounts: Owner's Capital...


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