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Recently Asked Mcgraw Hill Connect Assignment Help, Questions and Answers

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You have to log in to connect.mheducation.com. I will give you my username and password....
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Mcgraw Hill Connect Financial Accounting Chapter 6 Homework and Quiz

Connect Financial Accounting Chapter 6 Homework and Quiz

Q1. Waupaca Company establishes a $380 petty cash fund on September 9. On September 30, the fund shows $121 in cash along with receipts for the following expenditures: transportation costs of merchandise purchased, $58; postage expenses, $53; and miscellaneous expenses, $143. The petty cashier could not account for a $5 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory.

Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $415.

connect financial accounting chapter 6

Q2. Palmona Co. establishes a $250 petty cash fund on January 1. On January 8, the fund shows $145 in cash along with receipts for the following expenditures: postage, $43; transportation-in, $14; delivery expenses, $16; and miscellaneous expenses, $32. Palmona uses the perpetual system in accounting for merchandise inventory.

Prepare journal entries to...

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Mcgraw hill connect financial accounting answers chapter 3 homework

Connect Financial Accounting Chapter 3

Q1. Pablo Management has two part-time employees, each of whom earns $110 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the two employees worked Monday, December 31, and Wednesday through Friday, January 2, 3, and 4. New Year’s Day. (January 1) was an unpaid holiday.

  • Prepare the year-end adjusting entry for wages expenses.
  • Prepare the journal entry to record payment of the employees’ wages on Friday, January 4.

Q2. Exercise 3-3 Preparing adjusting entries LO P1

  • Depreciation on the company’s equipment for 2017 is computed to be $11,000.
  • The Prepaid Insurance account had a $7,000 debit balance at December 31, 2017, before adjusting for the costs of any expired coverage. An analysis of the company’s insurance policies showed that $1,220 of unexpired insurance coverage remains.
  • The Office Supplies account had a $550 debit balance on December 31, 2016; and $2,6...
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Connect Fundamental Accounting Principles Final Exam

Connect Fundamental Accounting Principles Final Exam Help

Q1. In the process of reconciling its bank statement for April, Donahue Enterprises’ accountant compiles the following information:

Cash balance per company books on April 30 $ 6,235
Deposits in transit at month-end $ 1,380
Outstanding checks at month-end $ 700
Bank charge for printing new checks $ 85
Note receivable and interest collected by bank on Donahue’s behalf $ 690
A check paid to Donahue during the month by a customer is returned by the bank as NSF $ 560

The adjusted cash balance per the books on April 30 is:

  • $6,840
  • $8,080
  • $5,760
  • $6,280
  • $4,200
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Connect Principles of Financial Accounting Exam 1 Homework Answers

Connect Principles of Financial Accounting Exam 1

Q1. The income statement describes revenues earned and expenses incurred along with the resulting net income or loss over a specified period of time, due to earnings activities. True or False

Q2. Objectivity means that financial information is supported by independent, unbiased evidence; it demands more than a person’s opinion. True or False

Q3. The idea that a business will continue to operate instead of being closed or sold underlies the going-concern assumption. True or False

Q4. The assets of a company total $728,000; the liabilities, $214,000. What are the net assets?

  • $942,000
  • $728,000
  • $514,000
  • $214,000
  • It is impossible to determine unless the amount of stockholder investments is known

Q5. If the liabilities of a business increased $89,000 during a period of time and the equity in the business decreased $37,000 during the same period, the assets of the business must have:

  • Decreased $126,000.
  • Decreased $52,000.
  • Increased $37,000.
  • Increased $52,000.
  • Increased $126,0...

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