Solution to Quiz 2 --2007 (section 1) to post

Solution to Quiz 2 --2007 (section 1) to post - ACCT 410x...

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ACCT 410x Professor Bonner SOLUTION TO QUIZ 2 – FALL 2007 NOTE TO 2008 STUDENTS: You have Version A, so use those answers below. Section 1: Multiple Choice (20 points) Each question was worth 4 points if you wrote the correct answer in the blank (no points otherwise). Question Version A Version B 1 D C 2 A B 3 C A 4 A A 5 B C Section 2: Transaction Recording; Adjusting Entries (40 points) Each transaction entry piece for T1-T5 was worth 2 pts. (total of 14 items, or 28 pts.). Each piece of the adjusting entries was worth 3 pts. each (total of 4 items, or 12 pts.). Partial credit of –1- point was given if you got something in the right account (column) and row, but gave the wrong amount, or showed an increase instead of a decrease (or vice-versa).
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Version A Cash Accounts Receivable Prepaid Exp ense s Inventory Buildings Furniture and Equipment Accumulated Depreciation Total Assets Beginning balance 60,000 50,000 70,000 130,000 25,000 10,000 325,000 T1: Rented warehouse; paid $12,000. (12,000)
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Solution to Quiz 2 --2007 (section 1) to post - ACCT 410x...

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