ACCT 252 Financial Accounting Fall, 2009 Spencer

Exam # 2 Review Sheet

Content
Chapter 3 Accounting Information Systems (SO 1-8)
Equation analysis to record transactions
Prepare journal entries
Calculate a balance in a T-account
Prepare a trial balance
Chapter 4 Accrual Accounting Concepts (SO1-8)
Know revenue recognitions and matching principles and glossary
Purpose of adjusting entries
Major types of adjusting entries
Prepare adjusting entries for prepayments and for accruals
Describe nature and purpose of adjusted trial balance
Explain purpose of closing entries
List required steps in accounting cycle.
Study approach:
Read chapter
Watch Accounting Cycle Tutorials (All 4) at the On-Line Text
Take On-Line Quizzes and Tests at the On-Line Text
Review PowerPoint slides and/or chapter outlines on Blackboard
Work multiple choice quizzes found in book and online (click on
textbook link)
Rework brief exercises (BE), exercises (E), and problems for the
appropriate short objectives (SO)
Format of exam:
Multiple choice34%
Journal entries/Adjusting entries48%
Matching 18%
Chapter 3 : Multiple choice, 20 %, journal entries 30%, matching 10%
Chapter 4: Multiple choice 14%, adjusting journal entries 18% matching, 8%

for cash already received)