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  • Topics For Test 1 Examination 2022

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    Jasmin Basim
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    The document outlines the topics and format for Test 1 on July 6th from 6-8pm. Students will be examined on lecture notes covering financial report preparation including the trial balance, income statement, owners equity statement, balance sheet, and statement of cash flows. Additionally, the test will cover accounting for partnerships such as the formation, appropriation of income/loss, preparing financial statements, goodwill, and dissolution of partnerships. The exam consists of 20 multiple choice questions worth 20 marks total from both topics.

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    Topics for Test 1 Examination 2022

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    The document outlines the topics and format for Test 1 on July 6th from 6-8pm. Students will be examined on lecture notes covering financial report preparation including the trial balance, income statement, owners equity statement, balance sheet, and statement of cash flows. Additionally, the test will cover accounting for partnerships such as the formation, appropriation of income/loss, preparing financial statements, goodwill, and dissolution of partnerships. The exam consists of 20 multiple choice questions worth 20 marks total from both topics.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    10 views3 pages

    Topics For Test 1 Examination 2022

    Uploaded by

    Jasmin Basim
    The document outlines the topics and format for Test 1 on July 6th from 6-8pm. Students will be examined on lecture notes covering financial report preparation including the trial balance, income statement, owners equity statement, balance sheet, and statement of cash flows. Additionally, the test will cover accounting for partnerships such as the formation, appropriation of income/loss, preparing financial statements, goodwill, and dissolution of partnerships. The exam consists of 20 multiple choice questions worth 20 marks total from both topics.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    TOPICS FOR TEST 1 EXAMINATION

    Date and Time


    • July 6, 2022
    • 6:00pm - 8:00pm (2 Hours)
    Topics:
    • Lecture notes : Review of financial report preparation
    • The Trial Balance
    • Income Statement
    • Owners Equity Statement
    • Balance Sheet
    • Statement of Cash Flows
    • Suspense Accounts and the identification and correction of
    complex errors
    TOPICS FOR TEST 1 EXAMINATION
    • Accounting for Partnerships
    • Characteristics of Partnerships.
    • Accounting for the formation of a partnership.
    • Appropriation of net income or net loss in a
    partnership
    • Preparing Partnership financial statements
    – Capital account
    – Current accounts
    – Division of profits (Appropriation Account)
    • Accounting for Goodwill in a Partnership
    • Accounting for the dissolution of a partnership
    Format of Exam

    • Multiple Choice Questions:


    – 20 Questions from all TWO topics 20 MARKS

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