PRINCIPLES OF ACCOUNTING II
ACCT 1020
TEST INFORMATION - Test 1

Chapters Covered: 13 - 14

Deadline:	February 4
Important Note:	Exam problems are hand written. It is suggested that you practice working problems by hand. Complete the B Problems suggested below and/or print the Connect problems, work them by hand, then check your answers by entering the information in Connect. This method will best prepare you for your exam experience.

Components
	Multiple Choice (approximately 20% of total points)
	Approximately 20 questions covering concepts and terms Some questions will be straightforward "definition-type" questions while others will require multi-level thinking. Some of the multiple choice questions require problem-solving.
	Problems - All working papers are provided for you.
	Journalize various transactions relating to stock including issuing stock, declaring dividends, and working with treasury stock (25 points) Allocate dividends between common and preferred shareholders (22 points) Journalize bond entries including issuance, payment of interest, and amortization of discount and/or premium (15 points) Prepare an Amortization Schedule for an installment note with equal total payments (payment will be given) and journalize related entries (18 points)
Are You Ready?
	PTake the Interactive Quizzes provided by McGraw-Hill on the Text Website.
	Chapter 13 Interactive Quiz A Chapter 14 Interactive Quiz A
	PWork the practice problems in Connect under the Chapter Review 13-14 heading. If you successfully complete this review, it may be used as a bonus or replacement homework grade but is not required work. P Work the attached practice problems by hand. Recall that exam problems must be completed by hand. Check your answers against the solutions provided. Practice Problems Practice Problems Answer Key P Work the following problems without your text or notes. Check your answers against the B Problem Solutions.
	13-2B (Part 1) 13-4B 14-2B 14-8B NOTE: The recommended problems are only study suggestions. The problems on the exam will not necessarily look exactly like the suggested problems. The fact that you may not see a recommended sample problem does not indicate that the material will not be on the exam in some form. Be sure to study all the requirements listed in the chapter objectives.

*The following Learning Objectives* will be assessed on this exam:**
	Chapter 13
	Identify characteristics of corporations, distinguishing advantages and disadvantages Describe the components of stockholders equity Identify the characteristics of common stock Identify the characteristics of preferred stock Explain the items reported in retained earnings Journalize the issuance of common and preferred stock At par At a premium Distribute dividends between common and preferred stockholders and determine dividends in arrears Journalize entries relating to dividends On date of declaration On date of payment Account for stock dividends and stock splits Account for Treasury Stock Purchase Sale Prepare the Stockholder’s Equity section of a corporate balance sheet Compute Earnings Per Share Calculate Dividends Per Share
	Chapter 14
	Describe the advantages and disadvantages of bond financing Journalize transactions relating to bond issuances At par At a discount At Calculate and journalize bond amortization Calculate the cash receipt for bonds issued between interest dates Journalize transactions relating to bond interest Explain how to record the retirement of bonds Describe long-term notes payable Journalize transactions relating to long-term notes payable Issuing the note Accruing interest Making installment payments