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
- Take Employability Practice Tests
- https://cte-escr.org/ Click on WRS Sample Test
- Go to https://wrs.ctecs.org/practice/ and take the 5 quizzes for WRS (Idaho, Maine, Nevada)
- Show me your results for credit
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
****************************************
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
Aug 22
IN CLASS: Course requirements/expectations
- Syllabus: parents must reply to the email to respinola@hcsdnv.com for verification of syllabus.
Online Classroom: https://login.cengagebrain.com/cb/entitlement.htm?code=MTPP-4TTZ-RPQR
Join Quizlet
- https://quizlet.com/join/ej45UWjNM?i=1ucocb&x=1rqt
- Use your real name for your Quizlet account so you can receive credit.
Digital Assignment:
- Complete registration for websites above.
- Student Syllabus Verification
- Complete in Google Classroom