Exercises

Test your knowledge:  (Feel free to ask any question which part of the topic you did not understand.)

Part I Accounting Equation
Test I- Accounting Equation
Test II - Accounting Theory
Test III - Types of Assets
Test IV - Decrease and Increase Account
Test V - Analyzing the Transaction
Test VI - Effects of Debits and Credits in Transactions
Test VII - Classify the Account

Part II Financial Statement
Test I - Types of Assets
Test II - Trial Balance
Test III - Income Statement
Test IV - Statement of Owner's Equity
Test V -  Balance Sheet

Part III Recording Business Transaction ( Sole Proprietorship )
Test I - Journalizing
Test II - Posting to the Ledger
Test III - Trial Balance
Test IV - Income Statement
Test V - Statement of Owner's Equity
Test VI - Balance Sheet
Test VII - Final Exam

Part IV Recording Adjusting, Closing, Reversing Entries,and Post-Trial Balance.
Test I - Adjusting Entries
Test II - Closing Entries
Test III - Reversing Entries
Test IV - Prepare a Post-Closing Trial Balance

Part V For Trading Business ( Sole Proprietorship )
Test I - Prepare the Net Income of Shehgarlynn Mini Mart
Test II -  Prepare the Journal entries of Shehgarlynn Supermarket
Test III - Compute the Cost of Good Sold or Cost of Merchandise Sold
Test IV - Compute the Cost of Good Available for Sale of Shehgarlynn Supermarket.
Test V - Compute the Net Income of Shehgarlynn Supermarket.
Test VI - Prepare Adjusting Entries of Shehgarlynn Supermarket.
Test VII - Prepare Closing entries of Shehgarlynn Supermarket.
Test VIII - Prepare Post-Closing Trial Balance of Shehgarlynn Supermarket.
Test IX - Prepare Financial Statement of Shehgarlynn Supermarket

Part VI Special Journal and Controls

Test I - Prepare the Journal entries
Test II - Record all the credit sales to the Sales Journal
Test III - Record all sales to the Cash Receipt Journal
Test IV - Record the transactions to Purchases Journal
Test V - Record the transaction to Cash Payment Journal
Test VI - Record the transaction to Purchase Return and Allowances Journal
Test VII - Record the transaction to Sales Return and Allowances Journal

Part VII Accounting For Cash Special Control

Test I - Prepare Bank Reconciliation.
Test II - Prepare Petty Cash Fund.
Test III - Record all the transactions in General Journal Form

Part VIII Accounting For Receivables and Payables

Test I - Record the following transactions.

Test II - Compute the Net Sales.

Test III - Compute the Aging of Accounts Receivable

Test IV - Prepare the Journal Entries

Test V - Compute the Interest

Test VI - Prepare the Journal Entries

Part IX Accounting For Long-Life and Intangible Assets

Test I - Compute the Depreciation using Straight-Line Method

Test II - Compute the Depreciation using Double-Declining Method

Test III - Sum-of-the-Years'-Digits Method

Test IV - Compute the Capital Improvement

Part X  Accounting For Inventories

Test I - Compute beginning Inventory

Test II - Compute Ending Inventory

Test III - Records the purchase of Merchandise on credit (FIFO Method)

Test IV - Records the purchase of Merchandise on credit (LIFO Method)

Test VI - Records the purchase of Merchandise on credit (Weighted Average Method)

Part XI Payroll Deduction

Test I - Compute the gross income

Test II - Compute the following 

Test III - Record a payroll for the month of January 30, 2013.

Test IV - Prepare a payroll for the week.   

Part XII Partnership

Test I - Fill in the blank 

Test II - Compute the distribution of Income

Test III - Record the changes in the Partnership

Test IV - Record the transaction of the Partnership

Test V - Record the following entry

Test VI - Prepare the Financial Statements for a Partnership

Part XIII Corporate

Test I - Record the Stock Transaction

Test II - Prepare the transaction of Yosores Corporation

Test III - Prepare the Financial Statement of Yosores Corporation