solutions midterm

solutions midterm - SOLUTIONS SAMPLE MID TERM EXAM Question...

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SOLUTIONS SAMPLE MID TERM EXAM Question 1 – Multiple Choice (56 marks) 1. c 2. c 3. a 4. b 5. d 6. c 7. a 8. c 9. b 10. c 11. c 12. c 13. d 14. a 15. b 16.c 17.d 18. c 19. c 20. a 21. c 22. d 23. b 24. b 25 b 26.d 27. e 28. b
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( 12 marks) (a) Rent Expense . ............................................................... 60,000 Prepaid Rent . ......................................................... 60,000 (b) Unearned Admissions Revenue . ................................... 75,000 Admissions Revenue . ............................................ 75,000 ($900,000 ÷ 12 = $75,000) (c) Interest Expense . ........................................................... 1,500 Interest Payable . .................................................... 1,500 ($150,000 × .12 × 1 ÷ 12 = $1,500) (d) No entry (e) Accounts Receivable . ............................................ 14,000 Concessions Revenue . .................................. 14,000 (f) Amortization Expense 200 Accumulated Amortization – Equipment 200 2400/12
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This note was uploaded on 11/01/2009 for the course BUSI 1001 taught by Professor Dontknow during the Spring '08 term at Carleton CA.

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solutions midterm - SOLUTIONS SAMPLE MID TERM EXAM Question...

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