Acct

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Acct 220.Sp.14 Final Exam

Question 1: Suggested time 20 minutes: 15% points

a. Adjusting Entries:

Date	Account	Debit	Credit

b. Partial Adjusted Trial Balance:

Adjusted Trial Balance (partial)
Account Titles	Debit	Credit
Prepaid Insurance
Supplies
Accumulated Depreciation, Equipment
Accounts Payable
Flip’s Drawings
Service Revenue
Depreciation Expense, Equipment
Supplies Expense
Insurance Expense
Rent Expense
Utilities Expense

Answer Sheet Page 1 of 6.Sp.14 Final Exam

c. Closing Entries:

Date	Account	Debit	Credit

Question 2: Suggested time 15 minutes: 15% points

a. Cost of Goods Available for Sale
b. Value of:	Ending Inventory	COGS
(1) LIFO method
(2) FIFO method
(3) Average-cost method

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Answer Sheet Page 2 of 6 .Sp.14 Final Exam

Question 3: Suggested time 20 minutes: 15% points

Answer Sheet Page 3 of 6 .Sp.14 Final Exam

Question 4: Suggested time 15 minutes: 10% points

Date	Account	Debit	Credit

Answer Sheet Page 4 of 6 .Sp.14 Final Exam

Question 5: Suggested time 20 minutes: 10% points

a. Answer:

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b. Answer:

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c. Answer:

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Answer Sheet Page 5 of 6 .Sp.14 Final Exam

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

Date	Account	Debit	Credit

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 6 of 6 .Sp.14 Final Exam