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ACCT212 Mid Term Study Guide

ACCT212 Mid Term Study Guide - 8 TCO5 – A/R Allowance for...

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ACCT212 – Mid-Term Exam Study Guide The Mid-Term consists of 15 Multiple Choice Questions, each worth 5 points and 3 Essay/Problems each worth 25 Points. The Exam is worth a total of 150 Points. You have 2 1/2 Hours to take the Exam. The Exam covers all material from Weeks 1-4. You will be tested on TCO 1 – TCO5. Below is a breakdown of all of the questions showing you the TCO covered and the objective you will be tested on. The Exam is open Book and Notes, so you might want to make notes on this guide where you will be able to reference the material in you Textbook. 1) TCO5 – Internal Control and Bank Reconciliations 2) TCO1 – The Accounting Equation 3) TCO4 – Inventory Valuation 4) TCO1 – Accounting Assumptions, Concepts and Principles 5) TCO4 – Inventory – Lower of Cost or Market 6) TCO2 – Transaction Analysis 7) TCO5 – Bad Debt and Allowance for Doubtful Accounts
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Unformatted text preview: 8) TCO5 – A/R Allowance for Bad Debt Methods 9) TCO1 – Business Forms 10) TCO5 – Recording Notes 11) TCO5 – Note Interest Calculations 12) TCO5 – Internal Control 13) TCO3 – Accrual Accounting 14) TCO1 – Accounting Assumptions, Concepts and Principles 15) TCO5 – Internal Control and Bank Reconciliations Essay/Problem 1 = TCO4 – Inventory Calculations – You will be calculating Ending Inventory, COGS or Gross Profit using either LIFO, FIFO or Weighted Average. Essay/Problem 2 = TCO3 – Accrual Accounting- You will be required to prepare Adjusting Journal Entries using Data Given. Essay/Problem 3 = TCO2 – Analyzing Transaction and their relationship to the Accounting Equation. You will have to either prepare Journal Entries, Match Accounting Terms or provide information on how transactions effect the Accounting Equation....
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