acct 221 final exam
evelyn_0629
ACCT221_Final_Exam_Answer_Sheet.docx
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a. General Journal Entries
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Account |
Debit |
Credit |
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b. Partial Classified Balance Sheet
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Question 2: 4 points
a. General Journal Entries
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Account |
Debit |
Credit |
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b. Stock Investments Accounts Balance 12/31/18:
Question 3: 10 points
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Compute: |
Answer: |
Show calculations below: |
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Current Ratio = |
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Acid-test ratio = |
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Receivables turnover = |
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Profit margin = |
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Return on assets = |
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Question 4: 10 points
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Date |
Account |
Debit |
Credit |
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Question 5: 5 points
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a.1. |
Breakeven Sales Dollars |
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a.2. |
Breakeven Units |
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b.1. |
Breakeven Sales Dollars |
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b.2. |
Breakeven Units |
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c. |
Operating Income |
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Question 6: 5 points
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Question 7: 6 points
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Produce |
Buy |
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