MidtermExam-AFM101s11

MidtermExam-AFM101s11 - AFM 101: Introduction to Financial...

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AFM 101: Introduction to Financial Accounting Student Name: _________________________ Midterm Exam – Spring 2011 page 1 of 16 Student Number: _________________________ AFM 101: Introduction to Financial Accounting (midterm exam) page 1 of 16 AFM 101 Introduction to Financial Accounting Midterm Exam Spring 2011 Instructor: Robert Ducharme Date: Friday June 17, 2011 Time: 4:30pm – 6:00pm (1.5 hours) Student Number: Student Name: WatIAM/Quest ID: Class Lecture Section: 001 – W 4:00pm – 6:50pm Class Tutorial Section (check one): 101 – F 8:30am-9:20am 102 – F 9:30am-10:20am 103 – F 10:30am-11:20am
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AFM 101: Introduction to Financial Accounting Student Name: _________________________ Midterm Exam – Spring 2011 page 2 of 16 Student Number: _________________________ AFM 101: Introduction to Financial Accounting (midterm exam) page 2 of 16 AFM 101 Introduction to Financial Accounting Midterm Exam Spring 2011 Instructor: Robert Ducharme Date: Friday June 17, 2011 Time: 4:30pm – 6:00pm (1.5 hours) Student Number: Student Name: WatIAM/Quest ID: Class Lecture Section: 001 – W 4:00pm – 6:50pm Class Tutorial Section (check one): 101 – F 8:30am-9:20am 102 – F 9:30am-10:20am 103 – F 10:30am-11:20am Instructions 1. Identify your exam documents. Be sure to write your student number, name and WatIAM/Quest userid on this exam paper and the UW Multiple Choice Answer Card. Both this paper and the accompanying UW answer card must be handed in. One (1) mark will be deducted for each missing element of requested identification. 2. Cordless, non-programmable calculators may be used. The calculator must be “stand-alone” with no other communication or data storage features. Cell phones are not permitted. 3. Answers for the multiple choice questions must be recorded on the UW Answer Card (the UW Answer Card will not be returned, for your own reference you may want to make note of your selections on the exam paper which will be returned, however the multiple choice selections on the exam paper will not be graded). All other questions must be answered in the space provided on the examination paper. Answers written outside of the provided space will not be graded. 4. For maximum marks, show details of all your calculations. 5. Document any assumptions you consider relevant to the question. In making assumptions, it is inappropriate to assume away facts or change the nature of the question. Make the assumptions which allow you to demonstrate the most knowledge. However, keep the exam time limits in mind. 6. Please verify that this examination document is complete by checking for all appropriate pages, in total and in sequence. Marking Summary Q# Points Available Topic(s) Points Awarded 1 9 prepare basic financial statements 2 11 recording transactions 3 9 cash basis vs accrual basis income statement 4 7 adjusting journal entries 5 10 cash flow statement 6 8 closing entries 7 26 (26 x 1) +3 bonus multiple choice Total 80
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MidtermExam-AFM101s11 - AFM 101: Introduction to Financial...

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