Answers sheet for 221

Name:

Acct 221.Fa.14 Final Exam

Question 1: 30% points

a. General Journal Entries:

Date	Account	Debit	Credit

Answer Sheet Page 1 of 10 .Fa.14 Final Exam

b. Adjusted Trial Balance:

Flip Corporation
Adjusted Trial Balance
Accounts	Debit	Credit

Answer Sheet Page 2 of 10 .Fa.14 Final Exam

c. Multi-step Income Statement:

d. Retained Earnings Statement:

Answer Sheet Page 3 of 10 .Fa.14 Final Exam

e. Classified Balance Sheet (Assets section only):

Answer Sheet Page 4 of 10 .Fa.14 Final Exam

e. Classified Balance Sheet (liabilities & equity sections only):

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

a3. Stock Investments Accounts Balance

b1 & b2: : General Journal Entries: (Equity Method):

Date	Account	Debit	Credit

b3. Stock Investments Accounts Balance

Answer Sheet Page 6 of 10 .Fa.14 Final Exam

Question 3. 15% points:

Answer Sheet Page 7 of 10 .Fa.14 Final Exam

Question 4. 6% points

Question 5. 6% points:

Flip Inc.
Cash Disbursements Budget
For the Month of May

Question 6. 5% points:

Flip Enterprises
Incremental Analysis
Special Order

Answer Sheet Page 8 of 10 .Fa.14 Final Exam

Question 7. 6% points:

Flip Inc.
Incremental Analysis
To Make
Incremental Analysis	Incremental Effect

Question 8. 6% points:

Flip Company
Incremental Analysis
Which Product to Push

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:
10:	C	20:
11:	D	21:
12:	D	22:
13:		23:
14:		24:
15:		25:
16:		26:
17:		27:
18:		28:

Answer Sheet Page 10 of 10 .Fa.14 Final Exam