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ĐỀ THI NLKT ĐỀ 8

The document is an accounting exam with two exercises. Exercise 1 involves preparing T-accounts, a ledger, and unadjusted trial balance for the transactions of a new business during its first month of operations. Exercise 2 provides an unadjusted trial balance for a company and asks the student to journalize and post adjusting entries for depreciation, accrued salaries, unbilled fees, and supplies, and prepare an adjusted trial balance.

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344 views3 pages

ĐỀ THI NLKT ĐỀ 8

The document is an accounting exam with two exercises. Exercise 1 involves preparing T-accounts, a ledger, and unadjusted trial balance for the transactions of a new business during its first month of operations. Exercise 2 provides an unadjusted trial balance for a company and asks the student to journalize and post adjusting entries for depreciation, accrued salaries, unbilled fees, and supplies, and prepare an adjusted trial balance.

Uploaded by

Khánh Lê
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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TRƯỜNG ĐẠI HỌC NGOẠI NGỮ - TIN HỌC ĐỀ THI KẾT THÚC HỌC PHẦN

THÀNH PHỐ HỒ CHÍ MINH BẬC ĐẠI HỌC / CAO ĐẲNG – HỆ CHÍNH QUY
KHOA QUẢN TRỊ KINH DOANH QUỐC TẾ Học kỳ II - Năm học 2020 - 2021
_____________ Khóa 2019

ĐỀ CHÍNH THỨC 8 Môn: Nguyên lý kế toán


(Đề có 03 trang) Thời gian làm bài: 90 phút, không kể thời gian phát đề
(SV KHÔNG được 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 $10,200
Accounts Receivable 34,750
Prepaid Insurance 6,000
Supplies 1,725
Land 50,000
Building 155,750
Accumulated Depreciation – Building 62,850
Equipment 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:

1. Journalize the transactions for July (adjusting) (2 marks).


2. Post to the ledger (adjusting) (2 marks).
3. Prepare an adjusted trial balance as of July 31, 2020 (1 mark).
THE END

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