BUS1100 Practice Midterm Exam Spring 2026 Vanderbilt University

Practice Midterm Exam
BUS 1100
Essentials of Financial Reporting
Spring 2026


This is a closed-book exam. The sharing of calculators is not allowed, and any discussion during the exam or after the exam before others have
taken the exam will be considered a violation of the Honor Code. Memory features of the calculator should not be used, and photo captures of the
exam are prohibited. Questions should be directed to the instructor.

Please print your name and sign below.
"I pledge my honor that I have neither given nor received aid on this examination."

Name ______________________________________________

Signature ___________________________________________

Points
Financial Statements and Accounting Framework 35
Revenue and Expense Recognition 15
Inventory 15
Receivables 15
Depreciation 15
Analysis 5
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Total 100

, Financial Statements and Accounting Framework (35 points)


1. Indicate with an X where each of the following accounts can be found in the financial statements. Hint: There should only be one X per row. (2
points each)

Balance Sheet Income Statement

Asset Liability Stockholders' Revenue Expense
Equity
Allowance for Doubtful Accounts
Depreciation Expense
Unearned Revenue
Sales Revenue
Notes Receivable




2. Indicate with an X whether each account is debit normal or credit normal. Hint: There should only be one X per row. (2 points each)

Account Debit Credit
Cash
Allowance for Doubtful Accounts
Bad Debt Expense
Loss on Sale
Accounts Receivable