BE 02.07 – Panther Detective Agency
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Given transactions (truck, supplies, rent)… record each.
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Given transactions (truck, supplies, rent)… record each.
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Given a list of transactions… record each. (Music lessons, insurance, equipment, Note, etc.)
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Given a cash T-Account… determine the balance in the cash account along with determining the transactions that would have resulted in different postings.
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Given three transactions… analyze each using the accounting equation, record each transaction, and post each to T-accounts.
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Given a trial balance with incorrect inputs… use that information to prepare a properly formatted trial balance.
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Given amounts for assets, liabilities, equity, dividends, revenues, and expenses… determine the amount reported for net income.
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Given the cash received, salaries paid, and amount owed… calculate both the cash-basis net income and accrual-basis net income.
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Given the beginning supplies, additional supplies purchased, and ending supplies … record the purchase and calculate the balances.
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Given rent for one year, monthly rent, and prepaid rent at beginning of the year… record the payment of rent, record adjusting entries, and calculate year-end balances.
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Given the price of one year of insurance, the monthly price, and the amount of prepaid insurance… record necessary entries along with calculating year-end balances.
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