ACCOUNTING (ACNT 1303) CHAPTER 1 The Nature of Accounting

Size: px

Start display at page:

Download "ACCOUNTING (ACNT 1303) CHAPTER 1 The Nature of Accounting"

Rosaline Garrett
6 years ago
Views:

1 CHAPTER 1 The Nature of Accounting NAME Skills Review 1-1 Skills Review 1-2 Skills Review 1-3 Skills Review 1-4 Skills Review 1-5 Skills Review 1-6 Skills Review A 1-2A 1-3A 1-4A 1-5A (Use the example on page 16 to complete this balance sheet.) your workbook to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 1 ACNT 1303 Introduction to Accounting I Page 1 of 17

2 CHAPTER 2 Recording Business Transactions NAME Skills Review 2-1 Skills Review 2-2 Skills Review 2-3 Skills Review 2-4 Skills Review 2-5 Skills Review A 2-2A 2-3A 2-4A 2-5A your workbook to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 2 ACNT 1303 Introduction to Accounting I Page 2 of 17

3 CHAPTER 3 Starting the Accounting Cycle For a Service Business NAME Skills Review 3-1 Skills Review 3-2 Skills Review 3-3 Skills Review 3-4 (NOTE: Record the information as directed in the Journal and then post to the ledger accounts.) Skills Review 3-5 Skills Review 3-6 Skills Review A 3-3A 3-4A 3-5A (computer) Print transactions from General Journal Print Trial Balance Note: You will need a disk to create and save these documents on the computer. If you bought the package from the bookstore, you may use that diskette. Ask your instructor for help in getting started on the computer portion of this assignment. Click on START/ALL PROGRAMS/OFFICE SYSTEMS TECHNOLOGY/PARADIGM GENERAL LEDGER PROGRAM to start the accounting program. Be sure that your disk is inserted. your workbook and the computer printouts to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 3 ACNT 1303 Introduction to Accounting I Page 3 of 17

4 CHAPTER 4 The Accounting Cycle Continued NAME Skills Review 4-1 Skills Review 4-2 Skills Review 4-3 Skills Review 4-4 Skills Review 4-6 Skills Review A (computer) 4-2A 4-4A Income Statement Statement of Owner s Equity Balance Sheet 4-5A (computer) Print Adjusting Entries Print Adjusted Trial Balance Print Income Statement Print Statement of Owners Equity Print Balance Sheet your workbook and printouts to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 4 ACNT 1303 Introduction to Accounting I Page 4 of 17

5 CHAPTER 5 Completing the Accounting Cycle for a Service Business NAME Skills Review 5-1 Skills Review 5-2 Skills Review 5-4 Skills Review 5-5 Skills Review A 5-2A 5-3A (computer) Journalize and Post Adjusting Entries Print Adjusted Trial Balance Print Income Statement Journalize and Post Closing Entries Print Transactions 5-4A (computer) (NOTE: The Trial Balance entries are already in the computer.) Journalize and Post Adjusting Entries Print Adjusted Trial Balance Print Income Statement Journalize and Post Closing Entries Print Transactions Print the Post-Closing Trial Balance your workbook and printouts to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 5 ACNT 1303 Introduction to Accounting I Page 5 of 17

6 COMPREHENSIVE REVIEW PROBLEM 1 NAME Directions: This review is completed entirely on the computer. Take time to read the information in the text starting on page 177. This information will tell you about the business and the account names to be used. Be sure that you are following the order given on this sheet not the textbook. The account balances have already been entered into the computer. If you make an error, be sure that you are editing that entry and then reposting. If your Trial Balance does not have the amount shown, you have made an error, and you want to find your error, fix the error, repost, and reprint, before you continue. Use the other numbers given to make sure you are on target. (Remember if your Trial Balance does balance, it does not mean that all entries are correct just that it balances. Be sure to take your time with each entry so that it is entered correctly.) Do NOT delete any part of this assignment. You need to continue with the Adjusting Entries after the journal entries. After the Adjusting Entries, you will continue with the Closing Entries. Your last printout will show all the journal entries, adjusting, and closing entries. It may be helpful for you to write a page number on the bottom of each printed page so that you can keep your papers in order. Assignments not in order will not be graded! NOTE: There are two pages to this assignment sheet! Journalize July Transactions Post Entries Print Transactions Print a Trial Balance ($85,595) Journalize Adjusting Entries Post and Print Transactions from General Journal Showing Adjusting Entries Print Adjusted Trial Balance Print Income Statement ($6,115) ACNT 1303 Introduction to Accounting I Page 6 of 17

7 Print Statement of Owner s Equity Print Balance Sheet Journalize Closing Entries Post and Print Transactions Showing Closing Entries Print Post-Closing Trial Balance ASSIGNMENT GRADE Remember: If you need financial statements they must be printed before any closing entries are journalized and posted or the temporary accounts in the Income Statement will have zero balances. Points will be taken off if assignment is turned in incomplete. Comprehensive Review 1 After you have completed this assignment, you are ready to take your first exam. The exam covers Chapters 1-5. There are true/false, multiple choice, short answer questions, and journalizing of General Journal transactions, adjusting, and closing entries. ACNT 1303 Introduction to Accounting I Page 7 of 17

8 CHAPTER 6 Cash and the Combined Journal NAME Skills Review 6-1 Skills Review 6-2 Skills Review 6-3 Skills Review 6-4 Skills Review 6-5 Skills Review 6-6 Skills Review 6-7 Skills Review 6-9 Skills Review A 6-4A Bank Statement General Journal your workbook to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 6 ACNT 1303 Introduction to Accounting I Page 8 of 17

9 CHAPTER 7 ACCOUNTING FOR A MERCHANDISING BUSINESS PURCHASES AND CASH PAYMENTS NAME Skills Review 7-1 Skills Review 7-2 Skills Review 7-5 Skills Review 7-6 Skills Review 7-7 Skills Review 7-8 Skills Review A General Journal Purchases Journal Accounts Payable Ledger General Ledger Schedule of Accounts Payable 7-4A (computer) Enter Transactions in Appropriate Journal Post Transactions Print Transactions General Journal Cash Payments Journal Purchases Journal Print Balance Sheet Print Schedule of Accounts Payable* *The Schedule of Accounts Payable will print when you print the Balance Sheet. your workbook and printouts to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 7 ACNT 1303 Introduction to Accounting I Page 9 of 17

10 CHAPTER 8 ACCOUNTING FOR A MERCHANDISING BUSINESS Sales and Cash Receipts NAME Skills Review 8-1 Skills Review 8-2 Skills Review 8-3 Skills Review 8-4 Skills Review 8-5 Skills Review 8-6 Skills Review 8-7 Skills Review 8-8 Skills Review A 8-4A (computer) Enter Transactions in Appropriate Journal Post Transactions Print Transactions General Journal Sales Journal Cash Receipts Journal Print Schedule of Accounts Receivable* Print Balance Sheet 8-5A (computer) Enter Transactions in Appropriate Journal Post Transactions Print Transactions General Journal Sales Journal Cash Receipts Journal Purchases Journal Cash Payments Journal Print Balance Sheet Print Schedule of Accounts Payable* Print Schedule of Accounts Receivable* ASSIGNMENT GRADE *The Schedule of Accounts Payable and Receivable will print when you print the Balance Sheet. your workbook and printouts to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 8 ACNT 1303 Introduction to Accounting I Page 10 of 17

11 CHAPTER 9 WORKSHEET AND ADJUSTMENTS FOR A MERCHANDISING BUSINESS NAME Skills Review 9-1 Skills Review 9-2 Skills Review 9-3 Skills Review 9-4 Skills Review 9-5 Skills Review A 9-2A 9-3A your workbook to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 9 ACNT 1303 Introduction to Accounting I Page 11 of 17

12 CHAPTER 10 FINANCIAL STATEMENTS AND CLOSING ENTRIES FOR A MERCHANDISING BUSINESS NAME Skills Review 10-1 Skills Review 10-2 Skills Review 10-3 Skills Review 10-4 Skills Review A 10-2A 10-6A your workbook to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 10 ACNT 1303 Introduction to Accounting I Page 12 of 17

13 COMPREHENSIVE REVIEW PROBLEM 2 NAME Directions: This review is completed entirely on the computer. Take time to read the information in the text starting on page 393. This information will tell you about the business and the account names to be used. Be sure that you are following the order given on this sheet not the textbook. The account balances have already been entered into the computer. Remember that you have several journals to enter your transactions. If you make an error, be sure that you are editing that entry and then reposting. If your Trial Balance does not have the amount shown, you have made an error, and you want to find your error, fix the error, repost, and reprint, before you continue. Use the other numbers given to make sure you are on target. (Remember that if the Trial Balance does balance, it does not mean that all transactions are correct, just that it is in balance. Enter each transaction carefully.) Do NOT delete any part of this assignment. You need to continue with the January adjusting entries after the journal entries. After the adjusting entries, you will continue with the January closing entries. Complete the February transactions, adjusting, and closing entries as directed. Your last printout will show all the journal entries, adjusting, and closing entries for both months. It may be helpful for you to write a page number on the bottom of each printed page so that you can keep your papers in order. Assignments not in order will not be graded! NOTE: There are several pages to this assignment! 1. Enter all January transactions. 2. Post all transactions. 3. Print transactions from all journals: General Journal Sales Journal Purchases Journal Cash Receipts Journal Cash Payments Journal 4. Print the Trial Balance ($85,441.85) 5. Print : (see NOTE) Balance Sheet Schedule of Accounts Receivable Schedule of Accounts Payable ACNT 1303 Introduction to Accounting I Page 13 of 17

14 NOTE: Press CANCEL at the prompt that asks for Beginning and Ending Inventory amounts. 6. Enter Adjusting Entries 7. Post Adjusting Entries 8. Print Adjusted Trial Balance ($85,906.85) 9. Print Statements: Income Statement (Enter beginning and Statement of Owner s Equity ending inventory) Balance Sheet 10. Enter Closing Entries 11. Post Closing Entries 12. Print Post-Closing Trial Balance 13. Enter all February transactions 14. Post all transactions. 15. Print transactions from all journals: General Journal Sales Journal Purchases Journal Cash Receipts Journal Cash Payments Journal 16. Print the Trial Balance ($81,239.55) 17. Print : (See NOTE) Balance Sheet Schedule of Accounts Receivable Schedule of Accounts Payable NOTE: Press CANCEL at prompt that asks for Beginning and Ending Inventory amounts. 18. Enter Adjusting Entries 19. Post Adjusting Entries 20. Print Adjusted Trial Balance ($81,704.55) ACNT 1303 Introduction to Accounting I Page 14 of 17

15 21. Print Statements: Income Statement (Enter beginning and Statement of Owner s Equity ending inventory) Balance Sheet Schedule of Accounts Receivable Schedule of Accounts Payable 22. Enter Closing Entries 23. Post Closing Entries 24. Print Post-Closing Trial Balance ($69,387.25) 25. Print transactions from all journals: General Journal Sales Journal Purchases Journal Cash Receipts Journal Cash Payments Journal Final Grade Comprehensive Review, Problem 2 After you have completed this assignment, you are ready to take Test 2. The exam covers Chapters There are true/false, multiple-choice, and journalizing of General Journal, adjusting, and closing entries. ACNT 1303 Introduction to Accounting I Page 15 of 17

16 CHAPTER 11 Accounting for Payroll NAME Skills Review 11-1 Skills Review 11-3 Skills Review 11-5 Skills Review A 11-4A your workbook to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 11 ACNT 1303 Introduction to Accounting I Page 16 of 17

17 CHAPTER 12 Accounting for Payroll NAME Skills Review 12-1 Skills Review 12-5 Skills Review 12-6 Skills Review A 12-3A 12-4A your workbook to this sheet. Place it in the appropriate place for grading. Be sure that the assignments are complete and in order! Chapter 12 After completing this assignment, you are ready to take Test 3. This exam covers Chapters 11 and 12 only. There are true/false questions, tax calculations, and journalizing payroll. ACNT 1303 Introduction to Accounting I Page 17 of 17

ACCOUNTING BUSINESS EDUCATION DEPARTMENT TITUSVILLE HIGH SCHOOL (1 Year 1 Credit) MONTH PA STANDARDS CONTENT SKILLS ASSESSMENT

September ACCOUNTING BUSINESS EDUCATION DEPARTMENT TITUSVILLE HIGH SCHOOL (1 Year 1 Credit) Texts: Southwestern-Cengage Learning Century 21 Accounting, Multicolumn Journal, copyright 2014. Cengage Learning