The first part of the exam features 6 questions with short answers and calculations. For these, omit all general journal entry ...

Acct 220:
Final Exam

Student Name:

ACCT 220 Final Exam Answer Sheet

Question 1 (40 points)

  1. General Journal Entries:

Date

Account

Debit

Credit

b. Adjusting Entries:

Date

Account

Debit

Credit

c. Adjusted Trial Balance:

Adjusted Trial Balance

Account Titles

Debit

Credit

d. Classified Balance Sheet:

e. Closing Entries:

Date

Account

Debit

Credit

Question 2 (8 points)

  1. Cost of Goods Available for Sale

  1. Sales

  1. Value of:

Ending Inventory

COGS

  1. LIFO method

  1. FIFO method

  1. Average-cost method

Question 3 (7 points)

Date

Account

Debit

Credit


Question 4: (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

Question 5 (7 points)

Date

Account

Debit

Credit

Question 6 (4 points)

Date

Account

Debit

Credit

Questions 7-31 (1 point each)-Note your Multiple Choice answer choice (a, b, c, d, or e) next to each Multiple Choice question below.

7. ______ 21. ______

8. ______ 22. ______

9. ______ 23. ______

10.______ 24. ______

11. ______ 25. ______

12. ______ 26. ______

13. ______ 27. ______

14. ______ 28._______

15. ______ 29. _______

16. ______ 30. _______

17. ______ 31. _______

18. ______

19. ______

20. ______

10