Final exam 2019 Solution.pdf - ACCT 500 Final Examination...

This preview shows page 1 - 3 out of 9 pages.

ACCT 500 Final Examination December 12, 2019 GU net id _____________ SOLUTION Name: ______KEY___________ Net ID:___________ Section(please circle one): Bulldog HilltopOn my honor, I neither provided nor received assistance when completing this exam. __________________________________ (please sign your name)Instructions: READ QUESTIONS CAREFULLY!Write your GU net id on each page All work is to be done on the attached pages. Please do not submit other material. For problems that require computations, please show the final answerin the boxed area provided. Please clearly show the reasoning that supports your final answer.Work must be shownto receive full or partial credit. You may use only the calculator approved by the MBA office. Other calculators, cell phones, or other personal devices are not permitted. Proctors cannot answer questions during the exam. Clearly state assumptions made when presenting your answer. Scoring: Multiple choice ____ / 24 Short answer problems ____ / 24 Mazeroski problems ____ / 12 Starbucks problems ____ / 12 _______ Total score _____ / 72
ACCT 500 Final Examination December 12, 2019 GU net id _____________ SOLUTION Multiple choice (2 points each question)
__ 1. Which of the following is the best explanation of the purpose of adjusting entries?
Which of the following terms bestdescribes a distribution of the net income of a business to its owners?
___ 3. Bettis Bus Company collects $4,000 in advance from a customer for three years’ insurance coverage. As a result, A. Bettis' net working capital increases. B. Bettis’ net working capital decreases.C. Bettis’ net working capital is unchanged.D. Bettis’ net income increases.__B___ 4.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture