First Test on Chapters 1 3
Review - Schmidt
The first three chapters are paramount to your understanding of materials in future chapters. For this reason, we added an extra day to spend time reviewing for the exam. I would strongly encourage you to take the ungraded chapter quizzes and view the power point demonstrations in the Publishers website and do anything else that you can to help prepare yourself for this important test.
Just a reminder that the homework and the first two quizzes should all be completed in Connect. SOME OF YOU HAVE PROCRASTINATED AND ARE SETTING YOURSELF UP FOR FAILURE. This is evidenced by a glance at the gradebook in the Connect site which shows many assignments uncompleted at this point.
Read the chapters, study the handouts, do the homework and quizzes in preparation for your exam. Review powerpoints on the publisher's website, and work through as many questions as you can.
You will NEED A SCANTRON (882), pencil, and a calculator for your first test. DO NOT SHOW UP WITHOUT THESE ITEMS. Remember that cell phones are not allowed out for any reason during the exam not even to use the calculator feature.
The set up of the test is as follows:
30 true false and multiple point questions worth 2 points each ....60 points
Preparation of T-accounts and a trial balance 15 points
Preparation of financial statements 15 points
Identification of accounts and which financial statement they go on ..... 10 points
Total .100 points
There are quite a few terms and definitions on this first exam. Go through your class notes and review all the concepts that were discussed.