Quiz _1 - Winter 2009 - University of Toronto Faculty of...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
University of Toronto January 27, 2009 MGT201 H1S Financial Accounting I Duration: 1 hour Aids allowed: Non-programmable calculator Instructions: Please print your name and student in the space provided below. GOOD LUCK!!! ------------------------------------------------ --------------------------------------------- Student name (LAST NAME FIRST) Student number Marks: Part A (10 marks) Part B (10 marks) Part C ( 6 marks) Total ( 26 marks)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Part A ( 10 marks) For each of the following transactions, indicate if total assets would increase I, Decrease D or NE for no effect. ____ 1. Sale of common shares for cash ____ 2. Purchase of inventory for cash ____ 3. Collection of accounts receivable ____ 4. Payment of dividends ____ 5. Sale of merchandise to customers on account ____ 6. Recording of amortization expense ____ 7. Payment of accounts payable ____ 8. Recording the cost of goods sold ____ 9. Receipt of cash and signed long-term note payable ____10. Purchase of machinery for cash 2
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 7

Quiz _1 - Winter 2009 - University of Toronto Faculty of...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online