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On August 1, 2020, Bernice established A+ Investments, which completed the following transactions during the month, using the following accounts: Cash, Supplies, Accounts Payable, Common Stock, Dividends, Sales Commissions, Rent Expense, Office Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense.
_ ĐỀ THI KẾT THÚC HỌC PHẦN BẬC ĐẠI HỌC / CAO ĐẲNG – HỆ CHÍNH QUY ĐỀ CHÍNH THỨC Học kỳ II - Năm học 2020 - 2021 (Đề có 03 trang) Khóa 2019 Mơn: Ngun lý kế tốn Thời gian làm bài: 90 phút, không kể thời gian phát đề (SV KHÔNG sử dụng tài liệu) Important note: Students will lose marks if making errors on account titles or accounting forms EXERCISE 1: (5 marks) On August 1, 2020, Bernice established A+ Investments, which completed the following transactions during the month, using the following accounts: Cash, Supplies, Accounts Payable, Common Stock, Dividends, Sales Commissions, Rent Expense, Office Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense A Bernice transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $17,500 B Purchased supplies on account, $2,300 C Earned sales commissions, receiving cash, $13,300 D Paid rent on office and equipment for the month, $3,000 E Paid creditor on account, $1,150 F Paid dividends, $1,800 G Paid automobile expenses (including rental charge) for month, $1,500, H Paid miscellaneous expenses, $400 I Paid office salaries, $2,800 J Determined that the cost of supplies used was $1,050 Instructions: 1) Prepare T accounts (2 marks) 2) Prepare a ledger (2 marks) 3) Prepare an unadjusted trial balance as of August 31, 2020 (1 mark) EXERCISE 2: (5 marks) Selected account balances before adjustment for Infinite Wealth on July 31, the end of the current year, are as follows: Infinite Wealth Unadjusted Trial Balance July 31, 2020 Cash Accounts Receivable $10,200 34,750 Prepaid Insurance 6,000 Supplies 1,725 Land Building 50,000 155,750 Accumulated Depreciation – Building Equipment 62,850 45,000 Accumulated Depreciation – Equipment 17,650 Accounts Payable 3,750 Unearned Rent 3,600 Common Stock 60,000 Retained Earnings 93,550 Dividends 8,000 Fees Earned 158,600 Salaries and Wages Expense 56,850 Utilities Expense 14,100 Advertising Expense 7,500 Repairs Expense 6,100 Miscellaneous Expense 4,025 $400,000 $400,000 The data needed to determine year-end adjustments are as follows: • Depreciation of building for the year, $6,400 • Depreciation of equipment for the year, $2,800 • Accrued salaries and wages on July 31, $900 • Fees earned but unbilled on July 31, $10,200 • Supplies on hand on July 31, $615 Instructions: Journalize the transactions for July (adjusting) (2 marks) Post to the ledger (adjusting) (2 marks) Prepare an adjusted trial balance as of July 31, 2020 (1 mark) THE END