Financial Accounting Tests and Answers

Accounting 101 Tests Test 1 The Accounting Equation	Questions	Solutions
1) Review of Journal Entries 2) Adjusting Entries, Preparing Income Statement and Balance Sheet 3) Closing, Reversing and Correcting Entries 4) Merchandising Journal Entries and Statements Quick Review Notes Understanding Journal Entries is a short logical approach to help learn debits and credits.	One Two Three Four	S1 S2 S3 S4
Test 2 Accounting for Assets
1) Petty Cash 2) Bank Reconciliation 3) Accounts Receivable 4) Promissory Notes 5) Inventory Methods 6) Errors, Lower Cost or Market, Estimating Inventory 7) Depreciation and Capitalization 8) Revising Depreciation, Ordinary Repairs and Betterments 9) Disposal of Plant Assets	One Two Three Four Five Six Seven Eight Nine	S1 S2 S3 S4 S5 S6 S7 S8 S9
Test 3 Financing Assets With Equity
1) Admitting a new partner 2) Distributing Partners Income 3) Selling Stock 4) Paying Dividends 5) Treasury Stock 6) Dividend of Common Stock	One Two Three Four Five Six	S 1 S 2 S 3 S 4 S 5 S 6

Accounting 102 Tests
Test 1 On Financing Assets With Liabilities
1) Notes Payable Discounted, Payroll 2) Payroll 3) The Present and Future Value of Money 4) Installment Notes Payable 5) Selling Bonds and Bond inking Fund	One Two Three Four Five	S1 S2 S3 S4 S5
Test 2 Analyzing Accounting Information
Cash Flow Practice Sets 1) Statements 2) Direct and Indirect Methods	One Two	S 1 S 2
Cash Flows Quick Questions 3) Statements 4) Direct and Indirect Methods	Three Four	S 3 S4
Financial Analysis Quick Questions 5) Horizontal, Vertical and Trend #1 6) Question #2	Five Six	S5 S 6
7) Short-Term Marketable Debt Securities	Seven	S 7
8) Marketable Securities Lower Cost or Market	Eight	S8