Finals _ IS _ 07_ 1st 2010

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ACCT 333 (Female)
Accounting
Wed.27-1-2010

السؤال الأول
prepare journal entries for Merchandise operations ( chapter 5)

- purchased merchandise with discount term (shipping point)
- sold merchandise with discount term (shipping point)
- return of the merchandise sold
- purchased office supplies
- received a bill for shipment received in the first transaction
-paid in full for the purchased merchandise (discount rate will be calculated)
- receive full pay for merchandise sold ( no discount)

السؤال التاني
prepare income statement for company using the perpetual inventory system (chapter 5)

Giving :
Sales , Sales Return & Allowance , Cost of good sold, Freight-in, selling expenses ,Administrative expenses, ending inventory , beginning inventory


السؤال التالت

calculate the ending inventory cost using FIFO and LIFO methods (chapter 6)
Giving:
the company purchased in this order
(1) 300 @6$
(2) 400 @7$
(3) 200 @8$
the ending inventory is 350 unit

السؤال الرابع

prepare a bank reconciliation (chapter 8)
Giving:
Cash Balance per book, cash balance per bank, interest earned, outstanding checks, NSF checks, deposit on transit, service charge


السؤال الخامس

a Truck purchased on Jan. 8 2009 for 100,000$ with estimated life time of five years and salvage value of 20,000$ (Chapter 10)
Required:
(1) calculate the depreciation for the truck for 2010 using the (a)stright-line method (b) and double declining method
(2) for the value of (a) show the adjusting entry for recording the depreciation for Dec.31 2010 and show the balance sheet record for the Truck

السؤال السادس
Adjusting entries question (chapter 3 )

1- the supplies account shows beginning balance of 100 and purchasing of 700. the ending balance 200
2- one-year Prepaid insurance of 2400 was paid. 9 month passed from the date of paying
3- at the beginning of the period 3,600 $ was received for services to be provided. at the end of the period one-third of the services have been done.
4- salaries for 800 earned but not paid yet
5- نسيتها !!