PrototypeAssessmentItems303原型評(píng)估項(xiàng)目

1、.3.03 Prototype Assessment Items Page 1These prototype assessment items illustrate the types of items used in the item bank for this objective. All items have been written to match the cognitive process of the apply verb in the objective. These exact questions will not be used on the secure postasse

2、ssment, but questions in similar formats will be used.Journalize Adjusting EntriesFigure 3.03-AAdjustment Information, December 31Uncollectible accounts expense estimated as 1.0% of total sales on accountTotal Sales on Account for Year$410,750Merchandise Inventory Audio (ending balance)210,000Mercha

3、ndise Inventory Video (ending balance)150,000Supplies Used Administrative2,500Supplies Used Audio6,000Supplies Used Video3,500Value of Prepaid Insurance3,000Depreciation Expense Office Equipment2,000Depreciation Expense Store Equipment, Audio6,000Depreciation Expense Store Equipment, Video2,700Feder

4、al Income Tax Expense for Year9,7403.03 Prototype Assessment Items Page 21. Using Figure 3.03-A, what is the correct adjusting entry to journalize Uncollectible Accounts Expense?A. Debit Allowance for Uncollectible Accounts $4,107.50 and credit Uncollectible Accounts Expense $4,107.50B. Debit Uncoll

5、ectible Accounts Expense $4,107.50 and credit Allowance for Uncollectible Accounts $4,107.50C. Debit Allowance for Uncollectible Accounts $410,750 and credit Uncollectible Accounts Expense $410,750D. Debit Uncollectible Accounts Expense $410,750 and credit Allowance for Uncollectible Accounts $410,7

6、50Answer: 2. Using Figure 3.03-A, what is the correct adjusting entry to journalize Merchandise Inventory Audio? The January 1st beginning inventory was $195,000.A. Debit Merchandise Inventory Audio $195,000 and credit Income Summary Audio $195,000B. Debit Income Summary Audio $195,000 and credit Me

7、rchandise Inventory Audio $195,000C. Debit Merchandise Inventory Audio $15,000 and credit Income Summary Audio $15,000D. Debit Income Summary Audio $15,000 and credit Merchandise Inventory Audio $15,000Answer: 3. Using Figure 3.03-A, what is the correct adjusting entry to journalize the supplies adj

8、ustment for the video department? The January 1st beginning inventory was $7,000.A. Debit Supplies Expense- Video $3,500 and credit Supplies Video $3,500B. Debit Supplies Video $3,500 and credit Supplies Expense Video $3,500C. Debit Supplies Expense Video $7,000 and credit Supplies Video $7,000D. De

9、bit Supplies Video $7,000 and credit Supplies Expense Video $7,000Answer: 3.03 Prototype Assessment Items Page 34. Using Figure 3.03-A, what is the correct adjusting entry to journalize the prepaid insurance adjustment? The January 1st beginning balance was $10,000.A. Debit Prepaid Insurance $10,000

10、 and credit Insurance Expense $10,000B. Debit Insurance Expense $10,000 and credit Prepaid Insurance $10,000C. Debit Prepaid Insurance $7,000 and credit Insurance Expense $7,000D. Debit Insurance Expense $7,000 and credit Prepaid Insurance $7,000Answer: 5. Using Figure 3.03-A, what is the correct ad

11、justing entry to journalize Depreciation Expense for the audio department? A. Debit Inventory Audio $6,000 and credit Accumulated Depreciation Audio $6,000B. Debit Accumulated Depreciation Audio $6,000 and credit Inventory Audio $6,000C. Debit Depreciation Expense Audio $6,000 and credit Accumulated

12、 Depreciation Audio $6,000D. Debit Accumulated Depreciation Audio $6,000 and credit Depreciation Expense Audio $6,000Answer: 6. Using Figure 3.03-A, what is the correct adjusting entry to journalize the Federal Income Tax Expense adjustment? The estimated federal income for the current year was $82,

13、000.00 and was recorded in the debit column in the trial balance for Federal Income Tax Expense.A. Debit Federal Income Tax Expense $1,540 and credit Federal Income Tax Payable $1,540B. Debit Federal Income Tax payable $1,540 and credit Federal Income Tax Expense $1,540C. Debit Federal Income Tax Ex

14、pense $8,200 and credit Federal Income Tax Payable $8,200D. Debit Federal Income Tax Payable $8,200 and credit Federal Income Tax Expense $8,200Answer 3.03 Prototype Assessment Items Page 4Journalize Closing EntriesFigure 3.03-BSarahs Music Store Income Statement section on the December 31st Workshe

15、et had recorded the following credit balances:Sales Books$90,000Sales Music40,000Purchases Discount - Books8.500Purchases Returns and Allowances - Books1,500Purchases Discount Music2,500Purchases Returns and Allowances - Music1,0007. Using Figure 3.03-B, what is the correct journal entry to record t

16、he closing entry for Income Statement Accounts with credit balances?A. Debit Income Summary General $143,500 and credit Sales Books $90,000, Sales Music $40,000, Purchases Discount Books $8,500, Purchases Returns and Allowances Books $1,500, Purchases Discount Music $2,500 and Purchases Returns and

17、Allowances Music $1,000B. Debit Sales Books $90,000, Sales Music $40,000, Purchases Discount Books $8,500, Purchases Returns and Allowances Books $1,500, Purchases Discount Music $2,500 and Purchases Returns and Allowances Music $1,000 and credit Income Summary General $143,500C. Debit Income Summar

18、y $130,000 and credit Sales $130,000D. Debit Sales $130,000 and credit Income Summary $130,000Answer: 3.03 Prototype Assessment Items Page 5Figure 3.03-CSarahs Music Store Income Statement accounts on the December 31st Worksheet had recorded the following debit balances:Income Summary Books$6,000Inc

19、ome Summary Music5,000Sales Discount Books2,000Sales Returns and Allowances Books2,000Sales Discount Music1,700Sales Returns and Allowances Music1,200Purchases Books15,000Purchases Music14,000Advertising Expense Books3,000Advertising Expense - Music2,0008. Using Figure 3.03-C, what is the correct jo

20、urnal entry to record the closing entry for Income Statement accounts with debit balances?A. Debit Income Summary General $51,900 and credit Income Summary Books $6,000, Income Summary Music $5,000, Sales Discount Books $2,000, Sales returns and Allowances Books $2,000, Sales Discount Music $1,700,

21、Sales Returns and Allowances Music $1,200, Purchases Books $15,000, Purchases Music $14,000, Advertising Expense Books $3,000 and Advertising Expense Music $2,000B. Debit Income Summary Books $5,000, Income Summary Music $5,000, Sales Discount Books $2,000, Sales returns and Allowances Books $1,000,

22、 Sales Discount Music $1,700, Sales Returns and Allowances Music $12,00, Purchases Books $15,000, Purchases Music $14,000, Advertising Expense Books $3,000 and Advertising Expense Music $2,000 and credit Income Summary General $51,900C. Debit Sales $11,000 and credit Income Summary $11,000D. Debit Income Summary $11,000 and credit Sales $11,000Answer: 3.03 Prototype Assessment Items Page 69. Martys Shoe Corporation recorded Net Income after Federal Income Tax as $65,000. What is the correct closing entry to record net income in the Retained Earning