Sample midterm1

Sample midterm1 - BMGT310 - Sample Midterm

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BMGT310 - Sample Midterm Q1 (E5-11B)    (Balance Sheet Preparation)  Presented below is the adjusted trial balance of De Young  Corporation at December 31, 2010. Debits Credits Cash $ ? Office Supplies 2,640 Prepaid Insurance 2,200 Equipment 105,600 Accumulated Depreciation—Equipment $8,800 Trademarks 2,090 Accounts Payable 22,000 Wages Payable 1,100 Unearned Service Revenue 4,400 Bonds Payable, due 2017 19,800 Common Stock 22,000 Retained Earnings 55,000 Service Revenue 22,000 Wages Expense 19,800 Insurance Expense 3,080 Rent Expense 2,640 Interest Expense 1,980 Total $ ? $ ? Additional information: Net loss for the year was $5,500. No dividends were declared during 2010. Instructions Prepare a classified balance sheet as of December 31, 2010. (Make sure you can produce an Income Statement in good form too.)
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Q2 (E3-9B) (Adjusting Entries) Selected accounts of Conan Company are shown below. Supplies Accounts Receivable Beg. Bal. 1,200 31-Aug 712 17-Aug 12,100 31-Aug Q43,600 Salaries Expense Salaries Payable 15-Aug 2,600 31-Aug 2,100 31-Aug 2,100 Unearned Service Revenue Supplies Expense 31-Aug 2,000 20-Aug 3,200 31-Aug 712 Service Revenue 17-Aug 12,100 31-Aug 3,600 31-Aug 2,000 Instructions From an analysis of the T-accounts, reconstruct:
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Sample midterm1 - BMGT310 - Sample Midterm

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