FINAL EXAM ANSWER SHEET

FINANCIAL ACCOUNTING
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Full name:
Grade (in number):
Invigilator ………………………………………………
1’s1. (35 marks)
Question
signature Date of birth: …………………….…………. ………………..
1.1 Adjusting entries: (15 marks)
Student ID: ……………………….…………
Grade (in words):
……………….. Class code: K59CA
Date Account Titles Debit Credit
………………..
Invigilator 2’s Module: FINANCIAL ACCOUNTING
signature
Examination date: Examiner 1’s signature
Examination time: …………….……………
……………….. ………………..
Paper No.:
Examiner 2’s signature

………………..

1.2. Multiple-step income statement (20 marks)

Sales
Less : Sales discount
Sales returns and allowances
Net sales
Cost of goods sold

1
Gross profit
Expenses
Selling expenses
Depreciation expense
Sales salaries expense
Rent expense – Selling space
Store supplies expenses
Advertising expenses
Total selling expenses

General and administrative expenses

Depreciation expenses
Office salaries expenses
Supplies expenses
Total general and administrative expenses
Total expenses
Net income

2
Question 2. (45 marks)

General Journal

Date Account Titles Debit Credit

Transactions (Question 2.1)

3
 Date Account Titles Debit Credit

Adjusting Journals (Questions 2.3)

Question 3. (20 marks)

General Journal

Date Account Titles Debit Credit

4
Date Account Titles Debit Credit