Question 1: Suggested time 45 minutes: 40% points a. General Journal Entries*

| June 12, 2016

Question
Name:

.15

Question 1:Suggested time 45 minutes: 40% points

a. General Journal Entries:

Date

Account

Debit

Credit

b. Adjusting Entries:

Date

Account

Debit

Credit

Answer Sheet Page 1 of 8.Sp.15 Final Exam

c. Adjusted Trial Balance:

Adjusted Trial Balance

Account Titles

Debit

Credit

Answer Sheet Page 2 of 8.Sp.15 Final Exam

d. Classified Balance Sheet:

Answer Sheet Page 3 of 8.Sp.15 Final Exam

e. Closing Entries:

Date

Account

Debit

Credit

Question2: Suggested time 15 minutes: 8% points

a. Cost of Goods Available for Sale

b. Sales

c. Value of:

Ending Inventory

COGS

1) LIFO method

2) FIFO method

3) Average-cost method

Answer Sheet Page 4 of 8.Sp.15 Final Exam

Question 3: Suggested time 15 minutes: 7% points

Date

Account

Debit

Credit

Answer Sheet Page 5 of 8.Sp.15 Final Exam

Question 4: Suggested time 20 minutes: 9% points

a. Answer:

Year

Depreciation Expense

Total Accumulated Depreciation

End of Year Book Value

b. Answer:

Year

Depreciation Expense

Total Accumulated Depreciation

End of Year Book Value

c.

Answer

Answer Sheet Page 6 of 8.Sp.15 Final Exam

Question 5: Suggested time 10 minutes: 7% points:

Date

Account

Debit

Credit

Question 6: Suggested time 10 minutes: 4% points:

Date

Account

Debit

Credit

Answer Sheet Page 7 of 8.Sp.15 Final Exam

Multiple choice questions allocated 1% point each: Make your selection by indicating the letter corresponding to your answer. Suggested time is 60 minutes.

Question Number

Answer

Question Number

Answer

Question Number

Answer

7:

17:

27:

8:

18:

28:

9:

19:

29:

10:

20:

30:

11:

21:

31:

12:

22:

13:

23:

14:

24:

15:

25:

16:

26:

Answer Sheet Page 8 of 8.Sp.15 Final Exam

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