Accounting 200

Final Exam Study Guide

Chapters 1-4
Financial Statements & the components
Income Statement
Statement of Stockholders Equity
Classified Balance Sheet
Asset = Liailities ! Stockholders Equity "Accountin# Equation$
%ules of use for &eits & Credits "normal alances for each type of account$
'ritin# (ournal Entries to record transactions
Ad)ustin# entries* +repaids & Accruals
Chapter 5
%ecordin# sales on account and collectin# Accounts %ecei,ale -ith a discount
%ecordin# purchases made on account and payin# -ith a discount
Chapter
Cost Flo- Assumptions. primarily FIF/ and LIF/
Calculate Endin# In,entory and0or Cost of 1oods Sold
Chapter !
Bank %econciliations
Chapter "
Allo-ance method
Estimatin# and recordin# ad det e2pense usin# percent of recei,ales method
%ecordin# the -rite3off of an uncollectile account
Chapter #
+roperty. +lant &Equipment 4 calculate 1ain or Loss -ith a sale
o Strai#ht3Line depreciation and effect on accumulated depreciation
Intan#ile assets
Appendix $
Calculate present ,alue of sin#le sum
Calculate present ,alue of an annuity
Calculate future ,alue of a sin#le sum
Calculate future ,alue of an annuity
+resent 5alue of Bonds +ayale
Chapter 10
Current portion of lon#3term det and unearned re,enue
%ecord accrual of annual interest e2pense on Bonds +ayale sold at a discount or
premium
Installment notes "mort#a#e$ -ith monthly payments
Chapter 11
Stock Issue Considerations
6umer of Shares Issued or /utstandin#
+ar 5alue ")ournal entry to issue preferred or common stock$
&i,idends "cash$
Chapter 12
+urpose of Statement of Cash Flo-s
Classification and summary of Cash Flo-s y acti,ity
In,estin#. /peratin# and Financin# Acti,ities
%& ratios on the 'inal exam(