2007-01 BMGT 310 Int.Acc.I Exam One Blank

2007-01 BMGT 310 Int.Acc.I Exam One Blank - UNIVERSITY OF...

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UNIVERSITY OF MARYLAND Robert H. Smith School of Business BUSI 310 – Intermediate Accounting I Time : 75 minutes Y o u r N a m e : S e c t i o n : Show and properly label all calculations and answers. When your answer is not understandable, it will be treated as wrong answer. It is recommended that you show your work, within reason, as evidence of your thought process, though my focus will be your stated answer. Partial credit will generally not be given. When you turn in your exam, please make sure again that your answer sheets have the name at the top of each page. Once you leave the room you must turn in your exam, you will be unable to return. University Honor Pledge : Please hand-write and sign the following in accordance with University policy. “I pledge on my honor that I have not given or received any unauthorized assistance on this examination.” Signature
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Sep. 1 2 4 4 5 14 20 28 30 Part 1 (Twenty Points) Name:_______________________________________ (Transactions, Financial Statements - Service Company) Listed below are the transactions of Shigeki Muruyama, D.D.S., for the month of September. Accounts Receivable Cash Muruyama begins practice as a dentist and invests $30,000 cash. Purchases furniture and dental equipment on account from Green Jacket Co. for $16,000. Pays rent for office space, $1,000 for the month. Employs a receptionist, Michael Bradley. Purchases dental supplies for cash, $700. Bills patients $5,000 for services performed. Receives $1,000 from patients on account. Accumulated Depreciation Accounts Payable Pays the following expenses in cash: office salaries $1,500 Dental supplies on-hand on September 30th, $300. Depreciation Expense Supplies Expense Income Summary Instructions: Enter the transactions shown above in appropriate general ledger accounts below. Record depreciation using an 8-year life on the furniture and equipment, the straight-line method, and no salvage value. Prepare September journal entries, monthly adjusting entries, and month-end closing entries. Show month-end post-closing balances for each T account below. Show the dates to the left of each transaction and balance. Office Salaries Expense Shigeki Muruyama, Capital Service Revenue Rent Expense Supplies on Hand Furniture and Equipment
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Multiple-step and Extraordinary Items) The following balances were taken from the books of Maria Conchita Alonzo Corp. on December 31, 2007.
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2007-01 BMGT 310 Int.Acc.I Exam One Blank - UNIVERSITY OF...

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