Accounting 221
vlaimi
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Acct 221.Fa.14 Final Exam
Question 1: 30% points
a. General Journal Entries:
Date |
Account |
Debit |
Credit |
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Answer Sheet Page 1 of 10 .Fa.14 Final Exam
b. Adjusted Trial Balance:
Flip Corporation |
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Adjusted Trial Balance |
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Accounts |
Debit |
Credit |
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Answer Sheet Page 2 of 10 .Fa.14 Final Exam
c. Multi-step Income Statement:
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d. Retained Earnings Statement:
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Answer Sheet Page 3 of 10 .Fa.14 Final Exam
e. Classified Balance Sheet (Assets section only):
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Answer Sheet Page 4 of 10 .Fa.14 Final Exam
e. Classified Balance Sheet (liabilities & equity sections only):
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Answer Sheet Page 5 of 10 .Fa.14 Final Exam
Question 2. 6% points
a1 & a2: General Journal Entries: (Cost Method):
Date |
Account |
Debit |
Credit |
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a3. Stock Investments Accounts Balance
b1 & b2: : General Journal Entries: (Equity Method):
Date |
Account |
Debit |
Credit |
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b3. Stock Investments Accounts Balance
Answer Sheet Page 6 of 10 .Fa.14 Final Exam
Question 3. 15% points:
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Answer Sheet Page 7 of 10 .Fa.14 Final Exam
Question 4. 6% points
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Question 5. 6% points:
Flip Inc. |
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Cash Disbursements Budget |
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For the Month of May |
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Question 6. 5% points:
Flip Enterprises |
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Incremental Analysis |
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Special Order |
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Answer Sheet Page 8 of 10 .Fa.14 Final Exam
Question 7. 6% points:
Flip Inc. |
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Incremental Analysis |
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To Make |
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Incremental Analysis |
Incremental Effect |
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Question 8. 6% points:
Flip Company |
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Incremental Analysis |
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Which Product to Push |
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Answer Sheet Page 9 of 10 .Fa.14 Final Exam
Multiple choice questions allocated 1% point each: Make your selection by indicating the letter corresponding to your answer.
Question Number |
Answer |
Question Number |
Answer |
9: |
B |
19: |
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10: |
C |
20: |
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11: |
D |
21: |
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12: |
D |
22: |
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13: |
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23: |
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14: |
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24: |
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15: |
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25: |
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16: |
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26: |
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17: |
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27: |
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18: |
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28: |
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Answer Sheet Page 10 of 10 .Fa.14 Final Exam