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Category > Accounting Posted 09 May 2017 My Price 12.00

Final Examination Acct220: Principles of Accounting I

Directions
There are two documents attached below. The first one is the Exam. It has 6
questions, each with multiple parts. These are the parts.
Question 1 (40 points). Prepare a correcting entry, 7 adjusting journal entries, an
Adjusted Trial Balance (Flip Corporation). Then prepare a Classified Balance Sheet
and closing entries for Emily's Dress Shop. Each of these parts counts for
different point values. Please note: If you took this course before, this Final Exam
is not the same exam you previously took!
Question 2 (8 points). Determine Cost of Goods Available for sale (CGAS), and
then calculate ending inventory and Cost of Goods sold under a Periodic System.
Do the EI and CGS parts assuming LIFO, FIFO and average cost.
Question 3 (7 points). Prepare journal entries for Notes Receivable and Notes
Payable transactions, including interest calculations.
Question 4 (9 points). Complete calculations for Depreciation, book values and
accumulated depreciation, assuming straight-line, Double-declining balance and
units of production methods.
Question 5 (7 points). Prepare a bank reconciliation and associated journal
entries.
Question 6 (4 points). Prepare journal entries to record Bad Debt (Uncollectible
Accounts) Expense.
Total points - 75

Attachments:

Answers

SuperTutor
(15)
Status NEW Posted 09 May 2017 02:05 AM My Price 12.00

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Attachments

file 1494297901-Solutions file.docx preview (56 words )
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