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Accounting Examination Test Var. 3

This document provides an examination test for accounting students with 9 multiple choice and problem-solving questions covering various accounting principles and calculations. The questions address topics such as accounting entries, cost of goods sold, operating expenses, depreciation, inventory valuation methods and financial statement preparation. Students must demonstrate their understanding of accounting formulas, journal entries, financial statements and calculations for areas like materials, fixed assets, salaries and inventory. The test aims to evaluate students' mastery of key accounting concepts through practical application problems.

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Dragoș Creangă
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111 views1 page

Accounting Examination Test Var. 3

This document provides an examination test for accounting students with 9 multiple choice and problem-solving questions covering various accounting principles and calculations. The questions address topics such as accounting entries, cost of goods sold, operating expenses, depreciation, inventory valuation methods and financial statement preparation. Students must demonstrate their understanding of accounting formulas, journal entries, financial statements and calculations for areas like materials, fixed assets, salaries and inventory. The test aims to evaluate students' mastery of key accounting concepts through practical application problems.

Uploaded by

Dragoș Creangă
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Aprobat: Şef catedră Contabilitate

Dr., conf. univ. L. Grigoroi_____________


EXAMINATION TEST
For students of speciality EMREI, discipline Principles of Accounting
Var.3
N Question/problem p.
r.
1. Insert the definition: 5
1.1 According to number of corresponding accounts, accounting formulas are classified as ………. .
1.2. Accounts … are placed in the asset side of the balance sheet, but have a nature of a liability-side accounts.
2. Choose the right answer: 2.2. Write-off the cost of merchandise sold: 5
[Link] of materials on account: a) Dt 711 Ct 216
a) Dt 211 Ct 242 b) Dt 711 Ct 217
b) Dt 211 Ct 521 c) Dt 811 Ct 215
c) Dt 211 Ct 241
3. Indicate formulas for the following operations: 10
3.1. Calculated salaries for marketing department staff
3.2. Calculated depreciation of fixed assets used in production
3.3. Sold merchandise, their cost of written-off
3.4. Received a bill for electrical energy used in illumination of main office

4. Describe the economic content of accounting entries: 10


4.1. Dt 242 Ct 411;
4.2. Dt 523 Ct 242;
4.3. Dt 227 Ct 241;
4.4. Dt 811 Ct 812
4.5. Dt 211 Ct 242
5. Find the entry value of products manufactured and show formulas, if known that: 20
Used in production mat. A – 1000 units at cost 10 MDL per unit and mat. B – 800 units at 17 MDL per unit.
Salaries of workers – 8000 MDL, products-in-process at the beginning of period – 700 MDL, at the end – 1000 MDL,
electrical energy – 700 MDL.
6. Find the total amount of operating expenses: 10
Depreciation of office building – 6700 MDL, losses of materials as a result of inventory process – 400 MDL, cost of
license – 7000 MDL, salaries payable – 1400 MDL, interest expenses – 5000 MDL, electric energy in production
department – 2000 MDL, depreciation of production equipment – 4000 MDL, advertising expenses – 3200 MDL, cost of
merchandise sold – 100 MDL, expenses related to land granted – 5600 MDL.
7. At the beginning of April the enterprise has the following items (MDL): 20
Bank account – 18000, statutory capital – 7000, materials – 7000, undistributed profit – 8000, amortization of
intangibles – 1800, intangibles – 4300, accounts payable – 5800, debts towards state budget – 6200, accounts
receivable – 9500, fixed assets – 10000, profit (loss) of the period - ?.
Operations during the months are:
1. 01.04 – received commercial claims on bank account – 7000
2. 03.04 – bought materials on account – 12000
3. 08.04 - Paid a debt to state budget from account – 6000
4. 17.04 - Created reserves from profit – 4000.
5. 20.04 - Calculated local taxes payable – 200.
6. 20.04 – purchased license on account – 1000.
Make the initial BS, complete the Journal, open synthetic accounts and record transactions, prepare trial balance
and compile the final BS.
8. Show the depreciation calculation according to double-declining-balance method, if 10
Value of machinery – 11000 MDL, residual value – 1000 MDL, useful life – 5 years.
Entity sold the machinery at the end of the forth year for 7000 MDL. Determine the gain or loss on this operation.
9. Calculate materials’ entries and withdrawals according to LIFO method, if known, that: 10
01.10 – purchased 100 units of price 10 MDL,
10.10 – purchased 300 units of price 11 MDL,
23.10 – purchased 220 units at price 12 MDL,
09.10 – sold 80 units,
13.10 – sold 280 units.
Points accumulated and final results are distributed as follows:

Points 0-10 11-20 21-30 31-40 41-50 51-60 61-70 71-80 81-90 91-100
Mark 1 2 3 4 5 6 7 8 9 10

Examining lecturer,
Senior lecturer, Dr. Olesea Ghedrovici

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