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ACCT 220 Final Exam: Comprehensive Financial Accounting Assessment

Final exam covering key concepts in financial accounting.

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    Version C ACCT 220 Final Exam: Comprehensive Financial Accounting Assessment Acct 220 .Sp.15 Final Exam Question 1: Suggested time 45 minutes: 40 % points a. General Journal Entries: Date Account Debit Credit 31/12/14 Cash 1500 Accounts receivable 1500 b. Adjusting Entries: Date Account Debit Credit 31/12/14 Interest Receivable 300 Interest Earned 300 31/12/14 Interest Expense 1875 Interest Payable 1875 31/12/14 Depreciation Expense 12000 Accumulated Depreciation - building 4500 Accumulated Depreciation - equipment 7500 31/12/14 Salaries Expense 55 00 Salary Payable 5 500 31/12/14 Allowance for doubtful debts 26 75 Accounts receivable 26 75 Name:

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    Version C Answer Sheet Page 1 of 9 .Sp.15 Final Exam

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