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ACCT101:.Introduction.to.Accounting.for.Business.Majors.
Quiz.I,.Fall.2009.
.
Version.A.
..
Name:...Solution.....
.
Student.ID:.........Section.No:........
.
Instru
c
tions:..


This.is.a.closed.book.quiz..It.consists.of.22.questions...


Please.write.your.name,.student.ID,.lecture.section.number.on.this.page... For.each.subsequent.page,.please.write.your.student.ID.at.the.top.of.the.page.in.the.


space.provided.
..


Please.sign.the.honor.code.statement.on.page.1... Answer.all.the.questions.within.the.space.provided.on.the.examination.paper,.i.e..answer.question.1.to.20.on.page.6,.question.21.on.page.8.and.9,..and.question.22.on.ed..


page.11..
Only.answers.on.those.pages.will.be.grad.


You.may.use.the.back.of.the.pages.as.scrap.paper.. . You.need.to.hand.in.all.pages.of.the.quiz..You.will.get.zero.score.if.any.page.of.your.quiz.is.missing.


.
Please do not discuss with anyone else about the quiz before 3pm, October 6th, 2009.




Questions.
Part.I:.1-20.
Part.II:.21.
Part.II:.22.
Total.

Points
4.
40.
20.
100.

.Score.
0.
.



.
.
..
Answers.to.Question.1.to.20:.
Question
Answer
Question
Answer

1
C
11
C

2
A
12
C

3
C
13
C

4
B
14
D

5
B
15
D

6
C
16
B

7
D
17
C

8
D
18
A

9
A
19
D

10
B
20
C



..


Answers.to.Required.a).of.question.21:.
Transaction.
Account.Description.
Credit.

A..
Cash.
Debit.2,000.

Account.Receivable.
2,000.



.
Transaction.
escription.
Credit.

B...
Account.DAccount.Rec
Debit.1,500.

eivable.Service.Revenue.
1,500.



.
Transaction.
ount.Description.
Credit.

C..
AccPrepaid.rent.
Debit.3,000.

Cash.
3,000.



.
Transaction.
nt.Description.
Debit.
Credit.

D..
AccouUtility.expense.
150.

Cash..
150.



.
Transaction.
Account.Description.
Credit.

E..
Cash..
Debit.3,000.

Contributed.Capital.
3,000.



.
Transaction.
t.Description.
Debit.
Credit.

F..
AccounAccount.payable.
100.

Cash.
100.



...
.
Transaction.
Account.Description.
Credit.

G..
Cash.
Debit.80,000.

Note.Payable.
80,000.



.
Transaction.
Account.Description.
Credit.

H..
Land.
Debit.70,000.

Cash.
70,000.



.
Transaction.
Description.
Credit.

I..
Account.Retained.Earnings
Debit.10,000.

.Cash.
10,000.



.
Transaction.
Account.Description.
Credit.

J..
Supplies.
Debit.2,000.

Account.payable.
2,000.



.
Answers.to.Required.b).of.question.21:.
Transaction.
Operating.
Investing.
Financing.
No.eect.


ffV.

A..
V.

B..
V.

C..

D..
V.V.

E..
V