Period 5

This is a 2 hour exam

Knowledge: 30 Multiple Choice:
sole proprietorship partnership Accounts Receivable
Cost principle.

accounting cycle Sales Returns

Objectivity principle. Business Entity principle. Matching principle

NSF cheque Journal
purchase invoice
cheque copy
sales invoice
cash
receipts list
Inventory
Bank Reconciliation
Limited liability
Working capital
Balance sheets Liability Income Statement
Thinking: Short Answers (21 marks)
Costs of Good Sold Formula Chart-Like on the Merchandising Test
Adjusting Entry for Insurance
Declining Balance Depreciation Chart
This is the Question Why dont you want the Petty Cash fund under one persons
control?
Calculating for a credit invoice-like the merchandising assignment
State the effect on Owners Equity on four different types of transactions
Communication:
Complete Income Statement (15 marks)
Application:
Bank Reconciliation (10 marks)
Ratios: 10 marks
THESE ARE THE RATIOS YOU MUST KNOW FOR THE EXAM
Current Ratio
Quick Ratio
Inventory Turnover

Return on Net Sales

Debt Ratio

Journalize Transactions for a Service Business (10 marks)

Worksheet and closing entries for a Merchandising business (14 marks)