BUSA 101 – Fundamentals of Acct.

Final Exam Review Sheet (8^th ed)

 

The final is comprehensive covering all chapters from one to thirteen.  You will be asked to complete 8 (eight) problems.  You will be given  20 to choose from.  Problems you can expect are as follows:

 

• Preparation of financial statements

• JE's on books of buyer and seller

• Closing Entries

• Bank Reconciliation

• Determination of amounts for bad debts using Allowance Method

• Notes - JE's

• Calculation of inventory and COGS using FIFO and LIFO

• Estimation of inventory using either retail or gross profit method

• Depreciation using alternative methods

• Trade Ins and JE's

• Note transactions on books of both borrower and creditor

• Payroll Problem (calculation of earnings/deductions and payroll taxes)

• Allocating dividends and calculating dividends per share

• JE's for stock transactions

• Income taxes and deferrals

• Preparation of equity section of Balance Sheet

• JE's -- purchase of stock by another company as an investment

• JE's -- Issuance of Bonds

• JE's - purchase of Bonds

• JE's Adjusting Journal Entries