Your retake exam grade of _____48_______ has been posted to your record.
Since this was a final exam, you have nothing further to do. We do not send final exam solutions to
students due to exam security reasons. You are welcome to contact an instructor to go over your
exam.
1. $23,500 + $56,500 = $80,000 in assets
2. $58,000 net income -4 points
3. Final balance in Salaries Expense is $1225 which is a debit.
4. Debit Supplies $375 and credit Accounts Payable $375. -4 points
DATE
ACCOUNT
POST REF.
DR.
CR.
Jan 1
Supplies
375
Accounts Payable
375
Purchase supplies on account
5. Prepaid Insurance $2850.00, Insurance $750.00-4 points
