‫جامعــــة فيــالدلفيـــا‬
‫قسم المحاسبة‬
Philadelphia University
Department of Accounting
‫نموذج رقم‬
‫ورقة االمتحــان‬
Form No
Examination sheet
:‫القسم األول‬
‫ معلومات‬-‫أ‬
: ‫اسم الطالب‬
PART 1:
A: Information
: ‫الرقم الجامعي للطالب‬
Student Number:
‫المسائية‬
Student Name:
‫الصباحية‬
: ‫الفترة‬
‫ الصيفي‬:‫الفصل الدراسي‬
Semester: Summer
‫ بسمان مزاهره‬.‫ د‬: ‫اسم مدرس المادة‬
1200000:‫رقم المادة‬
Instructor Name Dr.Basman Mazahrih
Module No: 0311111
Time: 10.20 -11:20
ُ2 ‫ مبادىء المحاسبه انجليزي‬: ‫اسم المادة‬
10.20 –11.20 : ‫ الوقت‬09/7/2013 ‫التاريخ‬
Date:09/7/2013
Module Title :Accounting
Principles 2
‫الثالثاء‬: ‫اليوم‬
Day: Tuesday
‫ االول‬:‫االمتحــــان‬
Second Examination
B -Guidelines
-The exam consist of set of questions and the total
mark is ( 20 )
- Each question has tow marks.
-The answer must be written clearly and writ the
question number relevant to the answer.
2102/2013:‫السنة الدراسية‬
2102/2102 Academic year:
‫ إرشادات‬-‫ب‬
. )21( ‫ االمتحان يتكون من مجموعة من األسئلة ومجموع العالمات‬.‫ يجب كتابة اإلجابة بوضوح وتحديد رقم السؤال المتعلق باإلجابة‬/ ‫ أو الكالم‬/‫ يمنع منعا ً باتا ً االلتفات‬- .
‫أو الغش خالل االمتحان تحت طائلة العقاب‬
- Student must not talk or cheat during the exam or
He / She will be subject to penalty
C- student Comments about the Questions ( If any )
) ‫ مالحظات الطالب حول األسئلة ( إذا وجد‬- ‫جـ‬
.0
1.
2.
.2
EXAM INSTRUCTIONS:
1- YOUR EXAM IS 1 HOUR ONLY.
2- USE PEN ONLY TO WRITE YOUR ANSWER.
3- CELL PHONES ARE NOT ALLOWED IN THE EXAM AND ASSUMED TO BE
CHEATING.
4- BORROWING CALCULATER FROM YOUR COLLEAGUES IS NOT ALLOWED.
5- NO CLACULATION NO CREDIT.
THE EXAM CONSISTS OF 20 MULTIPLE CHOICE QUESTIONS. PLEASE
CIRCLE THE RIGHT ANSWER (1 MARK EACH)
1.
Ali Company's goods in transit at December 31 include:
sales made
(1) FOB destination
(2) FOB shipping point
purchases made
(3) FOB destination
(4) FOB shipping point
Which items should be included in Ali’s inventory at December 31?
a. (2) and (3)
b. (1) and (4)
c. (1) and (3)
d. (2) and (4)
2.
If a check correctly written and paid by the bank for JD537 is incorrectly recorded
on the company's books for JD573, the appropriate treatment on the bank
reconciliation would be to
a. add JD36 to the bank's balance.
b. add JD36 to the book's balance.
c. deduct JD36 from the bank's balance.
d. deduct JD537 from the book's balance.
3.
Beginning inventory plus the cost of goods purchased equals
a. cost of goods sold.
b. cost of goods available for sale.
c. net purchases.
d. total goods purchased.
4.
A debit memorandum would not be issued by the bank for
a. a bank service charge.
b. the issuance of traveler's checks.
c. the Transfer of funds.
d. the collection of a notes receivable.
5.
On a bank reconciliation, deposits in transit are
a. added to the bank balance.
b. deducted from the bank balance.
c. added to the book balance.
d. deducted from the book balance.
6.
A company uses the periodic inventory method and the beginning inventory is
overstated by JD4,000 because the ending inventory in the previous period was
overstated by JD4,000. The amounts reflected in the current end of the period
statement of financial position are
Assets
Equity
a. Overstated
Overstated
b. Correct
Correct
c. Understated
Understated
d. Overstated
Correct
7.
In preparing its bank reconciliation for the month of April 2011, Mohummad, Inc.
has available the following information.
Balance per bank statement, 4/30/11
NSF check returned with 4/30/11 bank statement
Deposits in transit, 4/30/11
Outstanding checks, 4/30/11
Bank service charges for April
JD39,140
450
5,000
5,200
20
What should be the adjusted cash balance per bank at April 30, 2011?
a. JD39,370.
b. JD38,940.
c. JD38,490.
d. JD38,470.
8.
Journal entries are required by the depositor for all of the following except
a. collection of a note receivable.
b. bank errors.
c. bank service charges.
d. an NSF check.
The following information was available from the inventory records of Reem Company
for July. Answer the following two questions
Balance at July 1
Purchases:
July 6
July 26
Sales:
Units
30,000
Unit Cost
JD 9.00
Total.Cost
JD 270,000
20,000
27,000
10.20
10.40
204,000
280,800
9.
July 7
(25,000)
July 31
(40,000)
What should be the inventory reported on Reem’s July 31 statement of financial
position using the average-cost inventory method (round per unit amounts to two
decimal places)?
a. JD108,000.
b. JD117,600.
c. JD118,440.
d. JD126,000.
10.
What should be the inventory reported on Reem’s July 31 statement of financial
position using the FIFO inventory method?
a. JD108,000.
b. JD117,600.
c. JD124,800.
d. JD126,000.
11.
Keiko Company took a physical inventory at December 31, 2010 and determined
that ¥3,030,000 of goods were on hand. In addition, the company had goods
consigned with Chang Company that had a cost of ¥700,000. On December 29,
Keiko sold and shipped FOB shipping point ¥600,000 worth of inventory. These
goods arrived at the buyer’s place of business on January 4, 2011. What amount
should Keiko report as inventory on its December 31, 2010 statement of financial
position?
a. ¥3,030,000.
b. ¥3,630,000.
c. ¥3,730,000.
d. ¥4,230,000.
12.
A company just starting in business purchased three merchandise inventory
items at the following prices. First purchase $80; Second purchase $95; Third
purchase $85. If the company sold two units for a total of $240 and used FIFO
costing, the gross profit for the period would be
a. $65.
b. $75.
c. $60.
d. $50.
13.
A company purchased inventory as follows:
200 units at $10
300 units at $12
The average unit cost for inventory is
a. $10.00.
b. $11.00.
c. $11.20.
d. $12.00.
14. In periods of rising prices, the inventory method which results in the inventory
value on the statement of financial position that is closest to current cost is the
a. FIFO method.
b. specific identification method.
c. average-cost method.
d. tax method.
15.
Overstating ending inventory will overstate all of the following except
a. assets.
b. cost of goods sold.
c. net income.
d. equity.
16.
The 2011 financial statements of Vitturo Company reported beginning inventory
of €973,000, ending inventory of €1,023,000, and cost of goods sold of
€4,491,000 for the year. Vitturo’s inventory turnover ratio for 2011 is
a. 2 times.
b. 2.3 times.
c. 2.7 times.
d. 4.5 times.
17.
18.
A credit balance in Cash Over and Short is reported as a(n)
a. asset.
b. liability.
c. miscellaneous expense.
d. miscellaneous revenue.
The entry to replenish a petty cash fund includes a credit to
a. Petty Cash.
b. Cash.
c. Freight-in.
d. Postage Expense.
Use the following information to answer questions 19 and 20.
On May 1, 2011, Vuitton Company established a petty cash fund by issuing a check for
€250 to Antoinette Mercier, the custodian of the petty cash fund. On May 31, 2011,
Mercier submitted the following paid petty cash vouchers for replenishment of the petty
cash fund when there is €10 cash in the fund:
Freight-in
Office Supplies Expense
Entertainment of clients
Postage Expense
19.
€83
65
62
25
The journal entry to establish the petty cash fund would include a
a.
b.
c.
d.
20.
debit to Cash for €250.
debit to Cash Over and Short for €250.
credit to cash for €250.
credit to Accounts Payable for €250.
The journal entry to replenish the account would include a
a. debit to Cash Over and Short for €5.
b. credit to petty Cash for €235.
c. debit to cash for €235.
d. credit to cash for €250.
‫جامعــــة فيــالدلفيـــا‬
‫قسم المحاسبة‬
Philadelphia University
Department of Accounting
‫نموذج رقم‬
‫ورقة االمتحــان‬
Form No
Examination sheet
:‫القسم األول‬
‫ معلومات‬-‫أ‬
: ‫اسم الطالب‬
PART 1:
A: Information
: ‫الرقم الجامعي للطالب‬
Student Number:
‫المسائية‬
Student Name:
‫الصباحية‬
: ‫الفترة‬
‫ الصيفي‬:‫الفصل الدراسي‬
Semester: Summer
‫ بسمان مزاهره‬.‫ د‬: ‫اسم مدرس المادة‬
1200000:‫رقم المادة‬
Instructor Name Dr.Basman Mazahrih
Module No: 0311111
Time: 10.20 -11:20
ُ2 ‫ مبادىء المحاسبه انجليزي‬: ‫اسم المادة‬
10.20 –11.20 : ‫ الوقت‬09/7/2013 ‫التاريخ‬
Date:09/7/2013
Module Title :Accounting
Principles 2
‫الثالثاء‬: ‫اليوم‬
Day: Tuesday
‫ االول‬:‫االمتحــــان‬
Second Examination
B -Guidelines
-The exam consist of set of questions and the total
mark is ( 20 )
- Each question has tow marks.
-The answer must be written clearly and writ the
question number relevant to the answer.
2102/2013:‫السنة الدراسية‬
2102/2102 Academic year:
‫ إرشادات‬-‫ب‬
. )21( ‫ االمتحان يتكون من مجموعة من األسئلة ومجموع العالمات‬.‫ يجب كتابة اإلجابة بوضوح وتحديد رقم السؤال المتعلق باإلجابة‬/ ‫ أو الكالم‬/‫ يمنع منعا ً باتا ً االلتفات‬- .
‫أو الغش خالل االمتحان تحت طائلة العقاب‬
- Student must not talk or cheat during the exam or
He / She will be subject to penalty
C- student Comments about the Questions ( If any )
) ‫ مالحظات الطالب حول األسئلة ( إذا وجد‬- ‫جـ‬
.0
1.
.2
2.
EXAM INSTRUCTIONS:
6- YOUR EXAM IS 1 HOUR ONLY.
7- USE PEN ONLY TO WRITE YOUR ANSWER.
8- CELL PHONES ARE NOT ALLOWED IN THE EXAM AND ASSUMED TO BE
CHEATING.
9- BORROWING CALCULATER FROM YOUR COLLEAGUES IS NOT ALLOWED.
10- NO CLACULATION NO CREDIT.
THE EXAM CONSISTS OF 20 MULTIPLE CHOICE QUESTIONS. PLEASE
CIRCLE THE RIGHT ANSWER (1 MARK EACH)
1.
Ali Company's goods in transit at December 31 include:
sales made
(1) FOB destination
(2) FOB shipping point
purchases made
(3) FOB destination
(4) FOB shipping point
Which items should be included in Ali’s inventory at December 31?
a. (1) and (4)
b. (1) and (3)
c. (2) and (4)
d. (2) and (3)
2.
If a check correctly written and paid by the bank for JD537 is incorrectly recorded
on the company's books for JD573, the appropriate treatment on the bank
reconciliation would be to
a. add JD36 to the bank's balance.
b. deduct JD36 from the bank's balance.
c. deduct JD537 from the book's balance.
d. add JD36 to the book's balance.
3.
Beginning inventory plus the cost of goods purchased equals
a. cost of goods sold.
b. net purchases.
c. cost of goods available for sale.
d. total goods purchased.
4.
A debit memorandum would not be issued by the bank for
a. the issuance of traveler's checks.
b. the Transfer of funds.
c. the collection of a notes receivable.
d. a bank service charge.
5.
On a bank reconciliation, deposits in transit are
a. deducted from the bank balance.
b. added to the book balance.
c. deducted from the book balance.
d. added to the bank balance.
6.
A company uses the periodic inventory method and the beginning inventory is
overstated by JD4,000 because the ending inventory in the previous period was
overstated by JD4,000. The amounts reflected in the current end of the period
statement of financial position are
Assets
Equity
a. Correct
Correct
b. Understated
Understated
c. Overstated
Correct
d. Overstated
Overstated
7.
In preparing its bank reconciliation for the month of April 2011, Mohummad, Inc.
has available the following information.
Balance per bank statement, 4/30/11
NSF check returned with 4/30/11 bank statement
Deposits in transit, 4/30/11
Outstanding checks, 4/30/11
Bank service charges for April
JD39,140
450
5,000
5,200
20
What should be the adjusted cash balance per bank at April 30, 2011?
a.
b.
c.
d.
8.
JD38,940.
JD38,490.
JD38,470.
JD39,370.
Journal entries are required by the depositor for all of the following except
a. an NSF check.
b. collection of a note receivable.
c. bank errors.
d. bank service charges.
The following information was available from the inventory records of Reem Company
for July. Answer the following two questions
Balance at July 1
Purchases:
July 6
July 26
Sales:
July 7
July 31
Units
30,000
Unit Cost
JD 9.00
Total.Cost
JD 270,000
20,000
27,000
10.20
10.40
204,000
280,800
(25,000)
(40,000)
9.
What should be the inventory reported on Reem’s July 31 statement of financial
position using the average-cost inventory method (round per unit amounts to two
decimal places)?
a. JD108,000.
b. JD118,440.
c. JD117,600.
d. JD126,000.
10.
What should be the inventory reported on Reem’s July 31 statement of financial
position using the FIFO inventory method?
a. JD108,000.
b. JD117,600.
c. JD126,000.
d. JD124,800.
11.
Keiko Company took a physical inventory at December 31, 2010 and determined
that ¥3,030,000 of goods were on hand. In addition, the company had goods
consigned with Chang Company that had a cost of ¥700,000. On December 29,
Keiko sold and shipped FOB shipping point ¥600,000 worth of inventory. These
goods arrived at the buyer’s place of business on January 4, 2011. What amount
should Keiko report as inventory on its December 31, 2010 statement of financial
position?
a. ¥3,030,000.
b. ¥3,630,000.
c. ¥3,730,000.
d. ¥4,230,000.
12.
A company just starting in business purchased three merchandise inventory
items at the following prices. First purchase $80; Second purchase $95; Third
purchase $85. If the company sold two units for a total of $240 and used FIFO
costing, the gross profit for the period would be
a. $75.
b. $65.
c. $60.
d. $50.
13.
A company purchased inventory as follows:
200 units at $10
300 units at $12
The average unit cost for inventory is
a. $11.20.
b. $10.00.
c. $11.00.
d. $12.00.
14. In periods of rising prices, the inventory method which results in the inventory
value on the statement of financial position that is closest to current cost is the
a. specific identification method.
b. average-cost method.
c. FIFO method.
d. tax method.
15.
Overstating ending inventory will overstate all of the following except
a. assets.
b. net income.
c. cost of goods sold.
d. equity.
16.
The 2011 financial statements of Vitturo Company reported beginning inventory
of €973,000, ending inventory of €1,023,000, and cost of goods sold of
€4,491,000 for the year. Vitturo’s inventory turnover ratio for 2011 is
a. 2 times.
b. 2.3 times.
c. 4.5 times.
d. 2.7 times.
17.
18.
A credit balance in Cash Over and Short is reported as a(n)
a. asset.
b. liability.
c. miscellaneous revenue.
d. miscellaneous expense.
The entry to replenish a petty cash fund includes a credit to
a. Petty Cash.
b. Freight-in.
c. Postage Expense.
d. Cash.
Use the following information to answer questions 19 and 20.
On May 1, 2011, Vuitton Company established a petty cash fund by issuing a check for
€250 to Antoinette Mercier, the custodian of the petty cash fund. On May 31, 2011,
Mercier submitted the following paid petty cash vouchers for replenishment of the petty
cash fund when there is €10 cash in the fund:
Freight-in
Office Supplies Expense
Entertainment of clients
Postage Expense
19.
€83
65
62
25
The journal entry to establish the petty cash fund would include a
a. credit to cash for €250.
b. debit to Cash for €250.
c. debit to Cash Over and Short for €250.
d. credit to Accounts Payable for €250.
20.
The journal entry to replenish the account would include a
a. credit to petty Cash for €235.
b. debit to cash for €235.
c. credit to cash for €250.
d. debit to Cash Over and Short for €5.