David Barnard Week 8

Principles of Accounting Midterm Review

AC101 C s1!"!#$R%&

Midterm Guidelines
Lecturer Module name Module code Classes David Barnard Accounting Principles AC 101 1-1, 1-2, 1-3, 1-4, 1-5, 1-6, 1-7, 1- , 1-!, 1-10

Chapters 1, 2, 3, *6 and *11 Chapters/Topics: Corporations Pp" ! - 10 Balance s#eets Pp" 1! - 20 $#e %unda&ental accounting e'uation Pp" 23(27 $#e &a)or account categories Pp" 42(44 $#e dou*le-entr+ accounting s+ste& Pp" 45 Deter&ining account *alances P" 4 ,or&al *alances Pp" 4 (4! Balance s#eet and no&inal accounts Pp" 4!(50 Per&anent and te&porar+ accounts P" 4! $#e general ledger and )ournali-ing Pp" 4!(52 Posting Pp" 54(56 Cas# versus Accrual *asis accounting Pp" 0( 1 .sti&ated salvage value, net *oo/ value Pp" 3 - 4 $#e &a)or classes o% accounting ad)ust&ents Pp" 1( 0tate&ent o% 12ners3 .'uit+ Pp" 110(116 0ales %ro& revenues, cost o% sales, gross pro%it and net pro%it P"161 Current and 4ong-ter& accounts Pp" 205 - 212 $#e straig#t-line &et#od o% depreciation Pp" 35 (35! $#e Dou*le-Declining &et#od o% depreciation P" 360 5ractional period depreciation Pp" 360(361 6evision o% use%ul lives o% assets P" 362 Fractional Depreciation, practice exercise: P. 9 ! Pro"lem # $ %andom account "alance sheet: P. $ ! Pro"lem # 9

&dditional material7 %ro& M''D() c#apters 1, 2, 3, *6 and *11 'xam (ormat7 10 8 3 pts" 9uic/ 9uestions 5 8 pts" 0#ort Ans2ers : .8ercises $ x )* pts. 'xercises +pro"lems in "old print,

David Barnard Week 8

Principles of Accounting Midterm Review

AC101 C s1!"!#$R%&

* $#ese c#apters used %or re%erences to e8ercises"