BUSA 100 – Exam #2

Coverage and Review Sheet

 

This exam covers the last components in the accounting cycle.  You should be familiar with the major steps involved in the accounting cycle, and be able to place the steps in the proper order.

 

Topics covered include journalizing, journal entries, the posting process and appropriate posting references, the general ledger, errors, the trial balance, adjustments, adjusting journal entries, completing the worksheet,  and closing entries.

 

There are 25  multiple choice questions worth 2 points each. (Don’t forget your Scan Tron.)  In addition there are THREE PROBLEMS that you will complete on the working papers provided.   They are as follows:

 

Account Identification : Type of Account, Normal Balance, and Financial Statement it goes on (15 Points)

Completing a worksheet (20 points)

Journalizing Closing Entries (15 points)

 

You need to STUDY.  You also need to make sure you come prepared to class with your comprehensive problem completed and organized and ready to submit.

 

Bring a calculator, a pencil and a Scan tron form and ARRIVE ON TIME.