The final exam consists of 50 multiple choice questions on chapters 8,9,10, 11 & 15.

This exam is closed book and closed note. Bring with you a #882 scantron, pencils, erasers, simple nonprogrammable calculator (cellphones are prohibited), and picture identification.

Questions on the exam will relate to the following: 1. What is an uncollectible account and when does it become uncollectible. 2. What are the different methods for accounting for uncollectible accounts? 3. What is the journal entry for writing off an uncollectible account under the direct write off method? 4. Given some data, what is the adjusting journal entry when using aging of receivables method? 5. Similar to #4 (paying close attention to the balance in the allowance for doubtful accounts) 6. Similar to #4 (paying close attention to the balance in the allowance for doubtful accounts) 7. Similar to #4 (paying close attention to the balance in the allowance for doubtful accounts) 8. Similar to #4 (paying close attention to the balance in the allowance for doubtful accounts) 9. Similar to #4 (paying close attention to the balance in the allowance for doubtful accounts) 10. Calculate the due date, interest and maturity value of a note. (note that you will not have access to a calendar so youll need to know how many days there are in a monththe knuckle method works well). 11. Calculate interest on a note 12. Prepare the journal entry for the receipt of a note receivable 13. Determine the cost basis of a new machine 14. Calculate the depreciation expense using the units of production method 15. Calculate the depreciation expense using the straight line method 16. Calculate the depreciation expense using the double declining balance method 17. What is the most widely used depreciation method? 18. What is residual value? 19. Determine depreciation using the straight line method 20. Calculate the depletion expense 21. What is the difference between depreciation, depletion, and amortization? 22. What is goodwill and how is it amortized? 23. What are intangible assets (give examples) 24. Calculate the due date of a note 25. Calculate the maturity value of a note 26. Calculate the interest on a note 27. Which taxes are deducted from an employees gross pay? 28. Given some data, calculate the gross pay for an employee 29. Given some data, calculate the FICA tax for payroll. 30. Given some data, calculate the net pay for an employee 31. Given some data, record the journal entry for payroll 32. What is the difference between FICA, FUTA, and SUTA? 33. Given some data, determine the number of shares of common stock outstanding 34. Given some data, record the journal entry for the issuance of common stock 35. Given some data, record the journal entry for the issuance of preferred stock 36. Given some data, calculate the annual dividend on preferred stock

37. What are the journal entries associated with the declaration of a stock dividend? 38. Given some data, calculate the total stockholders equity 39. What journal entries are required when a cash dividend is declared? 40. Given some data calculate stock split 41. Similar to #40 42. What are comparative financial statements? Common-size financial statements? 43. What is vertical analysis? Horizontal analysis? 44. Similar to #42 45. Given some data, calculate the percentage of increase in sales 46. Similar to #42 47. Given some data, identify the quick assets 48. Given some data, calculate working capital 49. Given some data, calculate the quick ratio 50. Given some data, calculate the current ratio