For more course tutorials visit www . tutorialrank . com
For more course tutorials visit www . tutorialrank . com
Question 1
Transactions for Mehta Company for the month of May are presented below .
May 1 B . D . Mehta invests $ 3,054 cash in exchange for common stock of Mehta Company , a small welding corporation .
3 Buys equipment on account for $ 1,547 . Question 2
On July 1 , 2012 , Crowe Co . pays $ 19,796 to Zubin Insurance Co . for a 3-year insurance contract . Both companies have fiscal years ending December 31 . For Crowe Co .
Question 3
Dresser Company ' s weekly payroll , paid on Fridays , totals $ 12,000 . Employees work a 5-day week . Prepare Dresser ' s adjusting entry on Wednesday , December 31 , and the
Question 4
Side Kicks has year-end account balances of Sales $ 876,990 ; Interest Revenue $ 17,650 ; Cost of Goods Sold $ 577,500 ; Operating Expenses $ 200,240 ; Income Tax Expense
Question 5