ACC111 Redesign Exam One Directions & Check Numbers

This is comprehensive exam covers all steps in the accounting cycle. I cannot stress enough that you should start early in the week to be success in completing the exam. Only providing yourself with a day or two to complete will prove to be a difficult task.

You must use the workbook pages to complete the exam, as you will have to submit the completed problem for a grade. The directions to complete the exam are in the attached file. Please follow them closely and finish all parts. For your reference, there is a similar problem (CP 3-7) located at the end of Chapter 3 that can be used to help you.

I have provided "check numbers" below after you complete each requirement. It is important that you check your work using these numbers before moving on, as future work may be incorrect if your numbers do not match the check numbers provided.

Good Luck!! Part A, Requirement #3

After posting all transactions, please calculate the ending balance for each t-account. Then check your ending balances for each of the following accounts:

Cash $125

Accounts Receivable $9,000

Accounts Payable $11,100

Repair Revenue $13,800

Interest Expense $250

Wages Expense $5,000

****If the ending balances do not match, complete the following steps:

1. Check your math

2. Verify that you have posted your transactions correctly

3. Re-evaluate your journal entries