ACCOUNTING & FINANCE 3 ASSIGNMENTS (subject to change)

Google Meet-real time one-on-one help/Youtube Videos

May 29

cNow online class Chapter 17

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj. 1 Describe process cost systems.
    • Obj. 2 Prepare a cost of production report.
    • Obj. 3 Journalize entries for transactions using a process cost system.
    • Obj. 4 Describe and illustrate the analysis of unit cost changes between periods. Analysis for Decision Making
    • Obj. 5 Describe and Illustrate the use of a cost of production report in evaluating a company’s performance.
    • Appendix Obj. App. Describe and illustrate the weighted average method of preparing a cost of production report.
  • Chapter 17 Problem 1B
  • Chapter 17 Problem 2B
  • Chapter 17 Problem 3B
  • Chapter 17 Problem 4B
  • Chapter 17 Problem 5B
  • Chapter 17 Study Guide

May 15

cNow online class Chapter 16

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj. 1 Describe cost accounting systems used by manufacturing businesses.
    • Obj. 2 Describe and illustrate a job order cost accounting system for a manufacturing business.
    • Obj. 3 Describe job order cost accounting systems for service businesses.
    • Analysis for Decision Making
      • Obj. 4 Describe the use of job order cost information for decision making.
  • Chapter 16 Problems 1B and 3B
  • Chapter 16 Problem 4B
  • Chapter 16 Problem 5B
  • Chapter 16 Study Guide

May 1

cNow online class Chapter 14

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj. 1 Describe the techniques and tools used to analyze financial statement information.
    • Obj. 2 Describe and illustrate basic financial statement analytical methods.
    • Obj. 3 Describe and illustrate how to use financial statement analysis to assess liquidity.
    • Obj. 4 Describe and illustrate how to use financial statement analysis to assess solvency.
    • Obj. 5 Describe and illustrate how to use financial statement analysis to assess profitability.
    • Obj. 6 Describe the contents of corporate annual reports.
    • Appendices 1 and 2
      • Obj. App 1 Describe the reporting of unusual items on the income statement.
      • Obj. App 2 Describe the concepts of fair value and comprehensive income.
  • Chapter 14 Problem 1B-2B
  • Chapter 14 Problem 4B
  • Chapter 14 Study Guide

April 24

cNow online class Chapter 9

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj. 1 Define, classify, and account for the cost of fixed assets.
    • Obj. 2 Compute depreciation using the following methods: straight-line, units-of-activity, and double-declining-balance.
    • Obj. 3 Journalize the disposal of fixed assets.
    • Obj. 4 Describe the accounting for natural resources, including the journal entry for depletion.
    • Obj. 5 Describe the accounting for intangible assets, such as patents, copyrights, and goodwill.
    • Obj. 6 Describe how depreciation expense is reported on an income statement and prepare a balance sheet that includes fixed assets and intangible assets.
    • Analysis for Decision Making
      • Obj. 7 Describe and illustrate the fixed asset turnover ratio to assess the efficiency of a company’s use of its fixed assets.
      • Obj. App Describe and illustrate the accounting for the exchange of similar fixed assets.
  • Chapter 9 Problem 2B
  • Chapter 9 Problem 3B
  • Chapter 9 Problem 4B
  • Chapter 9 Problem 5B
  • Chapter 9 Study Guide

April 17

cNow online class Chapter 8

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj.1 Describe the common classes of receivables.
    • Obj.2 Describe the accounting for uncollectible receivables.
    • Obj.3 Describe the direct write-off method of accounting for uncollectible receivables.
    • Obj.4 Describe the allowance method of accounting for uncollectible receivables.
    • Obj.5 Compare the direct write-off and allowance methods of accounting for uncollectible accounts.
    • Obj.6 Describe the accounting for notes receivable.
    • Obj.7 Describe the reporting of receivables on the balance sheet.
    • Analysis for Decision Making Obj.8 Describe and illustrate the use of the accounts receivable turnover and number of days’ sales in receivables to evaluate a company’s efficiency in collecting its receivables.
  • Chapter 8 Problem 1B
  • Chapter 8 Problem 6B
  • Chapter 8 Study Guide

April 10

cNow online class Chapter 13

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj. 1 Describe the cash flow activities reported on the statement of cash flows.
    • Obj. 2 Prepare the “Cash flows from operating activities” section of the statement of cash flows using the indirect method.
    • Obj. 3 Prepare the “Cash flows from investing activities” section of the statement of cash flows.
    • Obj. 4 Prepare the “Cash flows from financing activities” section of the statement of cash flows.
    • Obj. 5 Prepare a statement of cash flows. Analysis for Decision Making
    • Obj. 6 Describe and illustrate the use of free cash flow in evaluating a company’s cash flow.
    • Obj. 6 Describe and illustrate the use of staffing budgets for nonmanufacturing businesses.
  • Chapter 13 Problem 3B
  • Chapter 13 Problem 5B
  • Chapter 13 Study Guide

Feb 17

cNow online class Chapter 22

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj. 1 Describe budgeting, its objectives, and its impact on human behavior.
    • Obj. 2 Describe the basic elements of the budget process, the two major types of budgeting, and the use of computers in budgeting.
    • Obj. 3 Describe the master budget for a manufacturing company.
    • Obj. 4 Prepare the basic operating budgets for a manufacturing company.
    • Obj. 5 Prepare financial budgets for a manufacturing company.
  • Analysis for Decision Making
    • Obj. 6 Describe and illustrate the use of staffing budgets for nonmanufacturing businesses.
  • Chapter 22 Problems 1, 3B
  • Chapter 22 Problems 4, 6B
  • Chapter 22 Study Guide

Feb 10

cNow online class Chapter 15

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj. 1 Describe managerial accounting, including its differences with financial accounting, its place in the organization, and its uses.
    • Obj. 2 Describe and illustrate the nature of manufacturing operations, including different types and classifications of costs.
    • Obj. 3 Describe and illustrate financial statements for a manufacturing business, including the balance sheet, statement of cost of goods manufactured, and income statement.
  • Analysis for Decision Making
    • Obj. 4 Describe and illustrate utilization rates in evaluating performance for service companies.
  • Chapter 15 Problem 1, 3
  • Chapter 15 Problem 5B
  • Chapter 15 Study Guide

Feb 3

Prep for CTE test

Feb 3

cNow online class Chapter 12

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj. 1 Describe the nature of the corporate form of organization.
    • Obj. 2 Describe and illustrate the characteristics of stock, classes of stock, and entries for issuing stock.
    • Obj. 3 Describe and illustrate the accounting for cash dividends and stock dividends.
    • Obj. 4 Describe the effect of stock splits on stockholders’ equity.
    • Obj. 5 Describe and illustrate the accounting for treasury stock transactions.
    • Obj. 6 Describe and illustrate the reporting of stockholders’ equity.
  • Analysis for Decision Making
    • Obj. 7 Describe and illustrate the use of earnings per share in evaluating a company’s profitability.
  • Chapter 12 Problem 3
  • Chapter 12 Problem 4
  • Chapter 12 Study Guide

Jan 27

cNow online class Chapter 11

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Learning Objectives
    • Obj. 1 Describe the characteristics and terminology of bonds payable.
    • Obj. 2 Describe and illustrate the accounting for bonds payable.
    • Obj. 3 Describe and illustrate the reporting of bonds payable.
  • Analysis for Decision Making
    • Obj. 4 Describe and illustrate how the times interest earned ratio is used to evaluate a company’s financial condition.
  • Chapter 11 Problem 2B
  • Chapter 11 Problem 4B
  • Chapter 11 Study Guide

Jan 21

cNow online class Chapter 10

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Objective:
    • Obj.1 Describe and illustrate current liabilities, including those related to accounts payable, accruals, notes payable, and the current portion of long-term debt.
    • Obj.2 Describe and illustrate the accounting for payroll liabilities.
    • Obj.3 Describe and illustrate the accounting for employee fringe benefits, including vacation pay and pensions.
    • Obj.4 Describe and illustrate the accounting for installment notes.
    • Obj.5 Describe and illustrate the accounting for contingent liabilities, including product warranties.
    • Obj.6 Describe the reporting of liabilities on the balance sheet.
    • Obj.7 Describe and illustrate the use of the quick ratio in analyzing a company’s ability to pay its current liabilities.
  • Chapter 10 Problem 2B
  • Chapter 10 Problem 3B
  • Chapter 10 Problem 4B
  • Chapter 10 Problem 5B
  • Chapter 10 Study Guide

Dec 17

DUE: cNow online class Chapter 6

cNow online class Chapter 7

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Objective:
    • Obj. 1 Describe the Sarbanes-Oxley Act and its impact on internal controls and financial reporting.
    • Obj. 2 Describe and illustrate the objectives and elements of internal control.
    • Obj. 3 Describe and illustrate the application of internal controls to cash.
    • Obj. 4 Describe the nature of a bank account and its use in controlling cash.
    • Obj. 5 Describe and illustrate the use of a bank reconciliation in controlling cash.
    • Obj. 6 Describe the accounting for special-purpose cash funds.
    • Obj. 7 Describe and illustrate the reporting of cash and cash equivalents in the financial statements.
  • Chapter 7 Study Guide
  • Chapter 7 Basic Exercises 3-5
  • Chapter 7 Problems 1-2A
  • Chapter 7 Problem 3A
  • Chapter 7 Problem 5A

Dec 6

cNow online class Chapter 6

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Objective:
    • Obj. 1 Describe the importance of control over inventory.
    • Obj. 2 Describe three inventory cost flow assumptions and how they impact the income statement and balance sheet.
    • Obj. 3 Determine the cost of inventory under the perpetual inventory system, using the FIFO, LIFO, and weighted average cost methods.
    • Obj. 4 Determine the cost of inventory under the periodic inventory system, using the FIFO, LIFO, and weighted average cost methods.
    • Obj. 5 Compare and contrast the use of the three inventory costing methods.
    • Obj. 6 Describe and illustrate the reporting of inventory in the financial statements.
  • Chapter 6 Study Guide
  • Chapter 6 Problems 1-2B
  • Chapter 6 Problems 3-4B
  • Problem 5 Comprehensive Problem

Nov 25

cNow online class Chapter 5

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Objective:
    • Obj. 1 Distinguish between the activities and financial statements of service and retail businesses.
    • Obj. 2 Describe and illustrate the accounting for merchandise transactions.
    • Obj. 3 Describe and illustrate the adjusting process for a retail business.
    • Obj. 4 Describe and illustrate the financial statements and closing entries for a retail business.
  • Chapter 5 Study Guide
  • Problem 5 5-4B
  • Problem 5 Comprehensive Problem

Nov 14

cNow online class Chapter 4

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Objective:
    • Obj. 1 Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements.
    • Obj. 2 Prepare financial statements from adjusted account balances.
    • Obj. 3 Prepare closing entries.
    • Obj. 4 Describe the accounting cycle.
    • Obj. 5 Illustrate the accounting cycle for one period.
  • Chapter 4 Test
  • Problem 4-2B
  • Problem 4-4B
  • Problem 4-5B

Nov 6

cNow online class Chapter 3

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Objective:
    • Obj. 2 Describe the nature of the adjusting process.
    • Obj. 2 Prepare adjusting entries for accruals.
    • Obj. 3 Prepare adjusting entries for deferrals.
    • Obj. 4 Prepare adjusting entries for depreciation.
    • Obj. 5 Summarize the adjusting process.
    • Obj. 6 Prepare an adjusted trial balance.Financial Reporting for partnerships
  • Chapter 3 Test
  • Problem 3-4B
  • Problem 3-5B
  • Problem 3-6B

Nov 4

cNow online class Chapter 2

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Online Book
  • Objective:
    • Obj. 1 Describe the characteristics of an account and a chart of accounts.
    • Obj. 2 Describe and illustrate journalizing transactions using the double-entry accounting system.
    • Obj. 3 Describe and illustrate the journalizing and posting of transactions to accounts.
    • Obj. 4 Prepare an unadjusted trial balance and explain how it can be used to discover errors.
  • Chapter 2 Problem 1B
  • Chapter 2 Problem 2B

Oct 28

cNow online class Chapter 1

  • https://k12.cengage.com/portal/Account/LogOn?DistrictLoginCode=97SX
  • Objective:
    • Obj. 1 Describe the nature of business and the role of accounting and ethics in business.
    • Obj. 2 Describe generally accepted accounting principles, including the underlying assumptions and principles.
    • Obj. 3 State the accounting equation and define each element of the equation.
    • Obj. 4 Describe and illustrate how business transactions can be recorded in terms of the resulting change in the elements of the accounting equation.
    • Obj. 5 Describe the financial statements of a corporation and explain how they interrelate.
  • Chapter 1 Problems 1-3B
  • Chapter 1 Problem 4B
  • Chapter 1 Problem 5B
  • Chapter 1 Problem 6B

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Chapter 24: Financial Reporting for a Not-for-Profit Organization

  • Objectives
    • LO1 Prepare adjusting entries for a general fund.
    • LO2 Prepare financial statements for a general fund.
    • LO3 Prepare closing entries for a general fund.
    • LO4 Prepare a post-closing trial balance.
    • LO5 Describe the components of a comprehensive annual financial report.
  • Study Guide
  • Problems 2, M

Chapter 23: Budgeting and Accounting for a Not-for-Profit Organization

  • Objectives
    • LO1 Describe the characteristics of not-for- profitorganizations.
    • LO2 Describethe process used to develop an operatingbudget for a not-for-profit organization.
    • LO3 Journalize budget transactions for a not- for-profit organization.
    • LO4 Journalize revenues for a not-for-profit organization.
    • LO5 Journalize expenditures, encumbrances, and other transactions for a not-for-profit organization.
  • Study Guide
  • Problems 1, 2, 3, M

Chapter 22: Financial Reporting for a Partnership

  • Objectives
    • LO1 Calculate the distribution of partnership earnings.
    • LO2 Journalize entries for the withdrawal of partnership earnings.
    • LO3 Complete end-of-period work for a partnership.
    • LO4 Journalize entries for liquidating a partnership.
  • Study Guide
  • Problems 3, M

May 27

Chapter 21: Organizatinal Structure of a Partnership

  • Objectives
    • LO1 Explain the organizational structure of a partnership.
    • LO2 Journalize transactions related to the formation of a partnership.
    • LO3 Journalize transactions to admit a new partner to an existing partnership.
  • Study Guide
  • Problems 1, 2, M

May 13

Chapter 20: Internal Control

  • Objectives
    • LO1 Explain the difference between an error and a fraud.
    • LO2 Describe how past events have affected the development of internal control and auditing standards.
    • LO3 Identify the tasks that should be segregated in an accounting system.
    • LO4 Use a flowchart to understand an accounting system.
    • LO5 Journalize data from vouchers in a voucher register.
    • LO6 Journalize voucher payment transactions in a check register.
    • LO7 Describe the key controls of a voucher system.
  • Study Guide
  • Problems M

May 6

Chapter 19: Process Costing, Activity-Based Costing, and Product Pricing

  • Objectives
    • LO1 Compare job order costing and process costing.
    • LO2 Calculate equivalent units of production.
    • LO3 Develop a cost of production report.
    • LO4 Journalize the transfer of costs in a process costing system.
    • LO8 Use cost-based pricing to calculate the price of a product.
    • LO5 Identify cost pools and cost drivers and calculate activity rates in activity-based costing.
    • LO6 Use activity-based costing to allocate overhead costs.
    • LO7 Use activity-based costing to calculate the total product cost.
    • LO8 Use cost-based pricing to calculate the price of a product.
    • LO9 Calculate the target cost of a product.
  • Study Guide
  • Problems 1, 2, 3, M

Apr 22

Chapter 18: Management Decision Making Using Differential Analysis

  • Objectives
    • LO1 Use differential analysis for make or buy decisions.
    • LO2 Use differential analysis for special order decisions.
    • LO3 Use differential analysis for discontinuing a segment decisions.
    • LO4 Use differential analysis for sell or process further decisions.
    • LO5 Calculate the future value and present value of an amount.
    • LO6 Calculate the future value and present value of an annuity.
    • LO7 Use net present value of an annuity to evaluate business decisions.
    • LO8 Use net present value of unequal cash flows to evaluate business decisions.
    • LO9 Use net present value to evaluate a lease or buy decision.
  • Study Guide
  • Problems 2, 3, M

Apr 8

Chapter 17: Job Order Costing.

  • Objectives:
    • LO1 Classify manufacturing costs as direct materials, direct labor, and factory overhead.
    • LO2 Prepare ledgers and cost sheets for a manufacturing business.
    • LO3 Maintain records and prepare journal entries for materials purchased and used in production.
    • LO4 Maintain records and prepare journal entries for labor costs used in production.
    • LO5 Maintain records and prepare journal entries for factory overhead.
    • LO6 Journalize the transfer of work in process to finished goods.
    • LO7 Journalize a sale and the related cost of goods sold.
    • LO8 Prepare a statement of cost of goods manufactured.
    • LO9 Understand the differences on the income statement and balance sheet for a manufacturing business.
    • LO10 Calculate and analyze variances related to direct materials.
    • LO11 Calculate and analyze variances related to direct labor.
  • Study Guide
  • Problem M

Apr 1

Chapter 16: Management Decision Making Using Cost-Volume-Profit Analysis

  • Objectives:
    • LO1 Differentiate between fixed and variable costs
    • LO2 Prepare an income statement reporting contribution margin
    • LO3 Calculate the contribution margin per unit and the contribution margin rate
    • LO4 Calculate the break-even income statement
    • LO5 Calculate the sales dollars and sales units required to earn a planned amount of net income
    • LO6 Determine the effect of changes in sales volume, unit costs, and unit sales prices on net income
    • LO7 Calculate a sales mix
  • Study Guide
  • Problems 3 and M

Mar 25

Chapter 15: Budgetary Planning and Control

  • Objectives:
    • LO1 Prepare a sales budget
    • LO2 Prepare a purchases budget
    • LO3 Prepare a selling expenses budget
    • LO4 Prepare an administrative expenses budget
    • LO5 Prepare another revenue and expenses budget
    • LO6 Prepare a budgeted income statement
    • LO7 Prepare a cash receipts budget
    • LO8 Prepare a cash budget
    • LO9 Prepare a performance report
    • LO10 Identify performance measures in a balanced scorecard system
  • Study Guide
  • Problems 4 and M

Mar 11

Chapter 14: Statement of Cash Flows

  • Objectives:
    • LO1 Identify the use of a statement of cash flows
    • LO2 Identify the difference between the direct and indirect methods of preparing the statement of cash flows
    • LO3 Calculate cash flows from operating activities using the indirect method
    • LO4 Complete the operating activities section of a statement of cash flows using the indirect method
    • LO5 Complete the investing activities section of a statement of cash flows
    • LO6 Complete the financing activities section of a statement of cash flows
    • LO7 Complete the statement of cash flows
    • LO8 Calculate the operating cash flow ratio and the cash flow margin ratio
  • Study Guide
  • Problems M and C

Mar 4

Chapter 13: Financial Reporting and Analysis for a Corporation

  • Objectives:
    • LO1 Identify the users of financial statement analysis
    • LO2 Identify the objectives of financial statement analysis
    • LO3 Analyze the short-term financial strength of a business
    • LO4 Analyze the profitability of a business
    • LO5 Analyze the profitability of a business
    • LO6 Perform efficiency analysis of a business
    • LO7 Calculate the market ratios of a business
    • LO8 Calculate permanent and temporary differences in net income and taxable income
    • LO9 Identify the components of comprehensive income
    • LO10 Identify where non-recurring items appear on the income statement
  • Study Guide
  • Problems 1-4, M, C

Feb 28

Chapter Chapter 12: Accounting for Bonds

  • Objectives:
    • LO1 Explain why and how a corporation issues bonds
    • LO2 Journalize the issue of bonds at a discount and at a premium
    • LO3 Journalize interest payments for bonds issued at a discount and a premium
    • LO4 Journalize the retiring of a bond issue
    • LO5 Journalize the early Redemption of a bond issue LO6 Explain how to account for convertible bonds
    • LO7 Journalize the purchase of an investment in bonds
    • LO8 Journalize the receipt of interest on bonds purchased at a discount and a premium
    • LO9 Journalize the sale of a bond investment
  • Study Guide
  • Problems 1-4, M

Feb 17

Chapter 11: Corporate Dividends and Treasury Stock

  • Objectives:
    • LO1 Journalize the Declaration and payment of a cash dividend
    • LO2 Journalize the Declaration and payment of a stock dividend
    • LO3 Describe the impact of a stock dividend
    • LO4 Explain why a corporation would purchase its own stock
    • LO5 Journalize entries for buying and selling treasury stock
    • LO6 Journalize the purchase and sale of the capital stock of other corporations
    • LO1 Describe the process for forming a corporation
  • Study Guide
  • Problems 1, 2, 3, M, C

Feb 10

Chapter 10: Organizing a Corporation

  • Objectives:
    • LO1 Describe the process for forming a corporation
    • LO2 Describe the two basic kinds of stock
    • LO3 Identify advantages and disadvantages of the corporate form of business
    • LO4 Journalize the issuances of par-value, no par-value, and stated-value common stock
    • LO5 Describe the process for taking a corporation public
    • LO6 Journalize the issuance of preferred stock
    • LO7 Explain how to account for convertible preferred stock
  • Study Guide
  • Problems 1, 2, M, C

Feb 28

Chapter 9: Accounting for Unearned Revenue, Accrued Revenue, and Installment Notes Receivable

  • Objectives:
    • LO1 Journalize the adjusting and reversing entries for unearned revenue
    • LO2 Journalize the adjusting and reversing entries for accrued revenue
    • LO3 Journalize transactions for gift cards
    • LO4 Journalize the adjusting entry for gift card breakage
    • LO5 Describe how gift card breakage is reported in the financial statements.
    • LO6 Journalize transactions for installment notes receivable
    • LO7 Journalize the reclassification and reversing entries for installment notes receivable
  • Study Guide
  • Problems 1, 2, 3, M
    • Submit problems together for grading

Feb 15

Chapter 8

  • Objectives:
    • LO1 Journalize transactions for notes payable
    • LO2 Journalize adjusting and reversing entries for prepaid expenses
    • LO3 Compare prepaid expense accounting procedures
    • LO4 Journalize adjusting and reversing entries for accrued expenses
    • LO5 Journalize warranty accruals and payments
    • LO6 Compare the accounting principles supporting the recognition of warranty expense and uncollectible accounts expense
  • Study Guide
  • Problems 2, 3, M
    • Submit problems together for grading

Jan 7

Chapter 7

  • Objective:
    • LO1 Record the purchase of plant assets
    • LO2 Describe how asset purchases are recorded using International Financial Accounting Standards
    • LO3 Identify the three forms often used in calculating depreciation
    • LO4 Calculate depreciation expense using the straight-line method
    • LO5 Record depreciation expense
    • LO6 Describe how to account for repair and maintenance payments
    • LO7 Journalize the disposal of plant assets
    • LO8 Calculate depreciation expense using the declining balance method
    • LO9 Calculate depreciation expense using the units-of-production method
    • LO10 Calculate depreciation expense for income tax reporting
    • LO11 Compare annual depreciation expense for 3 depreciation methods
    • LO12 Calculate depletion of a natural resource
  • Study Guide
  • Problems 1-3, M
  • Submit problems individually for grading

Dec 17

DUE: Chapter 5

Chapter 6

  • Objective:
    • LO1 Calculate and record uncollectible accounts expense using the direct write-off method.
    • LO2 Calculate and record estimated uncollectible accounts expense using the allowance method.
    • LO3 Write off an uncollectible account receivable.
    • LO4 Account for the collection of an account receivable that was written off.
    • LO5 Calculate and analyze accounts receivable turnover ratios.
  • Study Guide
  • Problems 1, 2-3, M

Nov 25

Chapter 5

  • Objective:
    • 1. Define accounting terms related to planning and costing inventory.
    • 2. Identify accounting concepts and practices related to planning, counting, and costing inventory.
    • 3. Describe the nature of merchandise inventory.
    • 4. Determine the cost of merchandise inventory using selected costing methods.
    • 5. Estimate the cost of merchandise inventory using selected estimating methods.
    • 6. Calculate merchandise inventory turnover ratio and average number of days’ sales in merchandise inventory.
  • Study Guide
  • Problems 2, 3, C

Nov 4

Chapter 4: Financial Reporting for a Departmentalized Business

  • Objective
    • LO1 Prove the accuracy of the subsidiary and general ledgers
    • LO2 Journalize adjusting entries
    • LO3 Prepare an adjusted trial balance
    • LO4 Calculate the federal income tax adjustment
    • LO5 Distinguish between direct and indirect expenses of a departmentalize business
    • LO6 Prepare a departmental margin statement
    • LO7 Analyze financial statements using vertical analysis ratios
    • LO8 Prepare financial statements for a departmentalized merchandising business
    • LO9 Journalize closing entries for a departmentalized merchandising business
    • LO10 Prepare a post-closing trial balance
    • LO11 Summarize the accounting cycle
  • Study Guide
  • Problem M, C

Chapter 3: Calculating Recording Departmental Payroll Data

  • Objectives
    • LO1 Explain how employees are paid.
    • LO2 Calculate employee earnings.
    • LO3 Prepare payroll reports.
    • LO4 Journalize the payment of a payroll.
    • LO5 Journalize the payment of payroll taxes.
  • Study Guide
  • Problems M and C
  • Recycling Problem

Sep 8

Chapter 2: Recording Departmental Sales and Cash Receipts

  • Objectives
    • LO1 Explain the purpose of a departmental accounting system.
    • LO2 Journalize and post departmental sales on account using a sales journal.
    • LO3 Journalize and post departmental sales returns and allowances.
    • LO4 Explain the impact of sales discounts on the collection of accounts receivable.
    • LO5 Journalize and post departmental cash receipts using a cash receipts journal.
  • Study Guide
  • Problems M and S

Sep 3

DUE: Chapter 1

Sep 1

Chapter 1: Recording Departmental Purchases and Cash Payments

  • Objectives
    • LO1 Explain the relationship between the accounting equation and accounting records.
    • LO2 Explain the relationship between a subsidiary ledger and a controlling account.
    • LO3 Explain the purpose of a departmental accounting system.
    • LO4 Journalize departmental purchases of merchandise on account using a purchases journal.
    • LO5 Post merchandise purchases to an accounts payable ledger and a general ledger.
    • LO6 Journalize departmental purchases returns and allowances.
    • LO7 Journalize departmental cash payments using a cash payments journal.
    • LO8 Post cash payments to an accounts payable ledger and a general ledger.
  • Study Guide
  • Problems M and S

Aug 22

Review

  • Chapter 1: Study Guide

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Aug 22

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