SYLLABUS
Howard High School / Small Business Development Spring 2013 COURSE SYLLABUS PROGRAM CONCENTRATION: Business & Computer Science CAREER PATHWAY: Financial Management -- Accounting COURSE TITLE: Accounting II CLASS WEB PAGE: www.edmodo.com Teacher: Susan Little Room Number: 408 Semester: Spring 2013 Textbook: Century 21 Accounting, Multi-column Textbook Price: n/a
Email: slittle.howardhs@bibb.k12.ga.us Phone Number: 478.779.4934 Tutorial Days: Monday - Thursday Tutorial Hours: By appointment Tutorial Location: 408
Department Philosophy: The Career Technology Education Department believes that education’s most important function is to provide all students with the skills needed for post-secondary and careers. This is accomplished by providing interest-based programs that meet industry standards. Course Description: Anyone who deals with any phase of business can benefit from an understanding of basic accounting principles covered in this course. Students planning to attend college will find a high school introduction to the subject helpful. Students planning to operate their own business will find this course a must. Students will continue to develop the accounting skills learned in Accounting I. Students will assume the role of an accountant for a small fictional business. Students will also do accounting work on a microcomputer. . Articulation: This course is Bibb County approved and articulated with Central Georgia Technical College’s program. Course Prerequisites: Computer Applications, Business Essentials, Accounting I Career Pathways: Courses must be completed in the order listed below. Small Business Development Financial Management – Accounting Level 1 Level 2 Level 3
* Business Essentials * Accounting I * Accounting II
Level 4 Level 5
(Work-Based Learning) (Work-Based Learning)
Level 1 Level 2 Level 3 Level 4 Level 5
*Business Essentials *Legal Environment of Business *Entrepreneurial Ventures (Work-Based Learning) (Work-Based Learning)
*Required for Pathway Completion Certifications: • The Financial Management-Accounting pathway prepares with the skills needed for the following industry recognized credentials: NOCTI Business Financial Management.
Career Choices: Occupation Specialties Accountants and Auditors Bookkeeping/Accounting/ Auditing Clerks Budget Analysts Tax Preparers
Level of Education Needed Bachelor’s Degree Moderate-Term On-the-Job Training
Average Salary $54,330 $29,619
Bachelor’s Degree Moderate-Term On-the-Job Training
$58,698 $30,285
Course Schedule Week 1 Accounting Cycle Week 2 Accounting Cycle Week 3 Accounting Cycle Week 4 Accounting Cycle Week 5 Accounting Cycle Week 6 Accounting Cycle Week 7 Accounting Cycle Week 8 Accounting Cycle Week 9 Accounting Cycle
Week 10 Week 11 Week 12 Week 13 Week 14 Week 15 Week 16 Week 17 Week 18
Corporation Adjustments & Valuations Corporation Adjustments & Valuations Corporation Adjustments & Valuations Financial Statements Financial Statements Special Topics Special Topics Special Topics Review-Final
Internet Acceptable Use: Use of the Internet must be in support of education and research and consistent with the educational objectives of the Bibb County School System. The use of the Internet is a privilege, not a right, and inappropriate use will result in cancellation of those privileges. Any student user not complying with the Bibb County School System Internet Acceptable Use Agreement shall lose Internet privileges for a period of not less than one week. Susan Little’s websites that will be used as an integral part of this course are available at: www.edmodo.com FBLA: Future Business Leaders of America is a co-curricular national student organization designed to offer students the opportunity to participate in leadership activities both in an out of the classroom. Members have the opportunity to go on field trips, participate in competitive events, perform community service, interact with the business community, and attend state and national conferences. Grading Scale* Area
Percentage Area
Daily Assignments & Quizzes Projects Tests
Writings/Journals Total for Class Grade
30 30 30
Percentage
Class Grade Final Exam
85 15
10 100%
Final Grade
100%
Required Material: Black or blue ink pen AND pencil. You will have a storage folder in class for your work.
Classroom Expectations: Give Respect, Get Respect. Classroom Expectations: 1. When I am talking, you are listening. 2. We will be respectful of each other at all times. 3. Come to class on time and prepared to work. 4. Complete your OWN work! 5. Do not enter my office without my permission. 6. When you enter the room, begin your daily journal. 7. NOTE: All rules in the Bibb County Code of Conduct will be enforced. Classroom Procedures: 1. Print only with permission. When I want you to print, I will instruct you to do so. Upload ALL of your work to Edmodo. No excuses for “I forgot to save/upload…” 2. At the beginning of each class, please check your computer, mouse, book, and desk. If anything is misplaced, broken, or dirty, you must tell me so that you will not get in trouble for something someone else has done. 3. Internet games and Internet use is on an as-needed basis with permission only. Non-negotiable! 4. Clean up your trash and push your chair under the table as you leave each day. Attendance: Due to the nature of this course, it is imperative that you attend class daily. Almost all of the work assigned in this course is completed in class. Attendance has a direct correlation with your grade. The more often you are in class, the more likely you will succeed in the class. The Bibb County Board of Education policy on attendance will be upheld. Make-up Policy: It is your responsibility to get make-up work from me if you are absent. Make-up work must be completed within five school days. Most, if not all work, will be posted on Edmodo. Re-do Policy: Students who score a 69 or lower on a test or project may redo the test within five school days for a maximum score of 70.
* This course does not have an End of Course Test (EOCT) * * All rules included in the Bibb County Code of Conduct book will be enforced * The course syllabus is a general plan for the course; all information contained in the course syllabus/calendar is subject to change. Any changes will be announced in class and a revised syllabus distributed to students to be shared with their parents/guardians. Acknowledgment of Receipt: By signing below, the student and parent/guardian acknowledge that they have read and understood the contents in the 2012-2013 Business Essentials syllabus. Student Name (Print)_________________________________________ Date________________ Student Signature___________________________________________ Date_________________ Parent Name (Print)__________________________________________ Date________________ Parent Signature____________________________________________ Date_________________
Pacing guide
Accounting II Instructional Focus Calendar Instructional Day #
Calendar Date
1
7‐Jan 8‐Jan
2
9‐Jan 3
10‐Jan 4
11‐Jan 5
14‐Jan 6
15‐Jan 7
16‐Jan 8
17‐Jan 9
18‐Jan 10
22‐Jan 11
Standard Addressed
BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4
Project-Based Instruction
FBLA in the Classroom
Spring 2013
Current Event
Reinforcment Activity Chap 9‐13 Reinforcment Activity Chap 9‐13 Reinforcment Activity Chap 9‐13
Current Event #1
Reinforcment Activity Chap 9‐14 Reinforcment Activity Chap Reinforcment Activity Chap 9‐14 Long Term Project Discussion ‐ Business Plans LTP ‐ Business Plans
FBLA Acct Practice Test (used as pretest for course) Personal Budget Activity
Current Event #2
Accounting II Instructional Focus Calendar Instructional Day #
Calendar Date
23‐Jan 12
24‐Jan 13
25‐Jan 14
28‐Jan 15
29‐Jan 16
30‐Jan 17
31‐Jan 18
1‐Feb 19
4‐Feb 20 21 22
5‐Feb 6‐Feb
Standard Addressed
BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐10 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐10 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐10 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐10 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐10 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐10 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐10 BCS‐PAII‐1 BCS‐PAII‐2 BCS‐PAII‐4 BCS‐PAII‐1 BCS‐PAII‐6 BCS‐PAII‐1 BCS‐PAII‐6
Project-Based Instruction
FBLA in the Classroom
Spring 2013
Current Event
Chapter 14 Projects
Current Event #3
Chapter 15 Projects
FBLA Region Competition Search (Date of Actual Region Competition) Current Event #4
Accounting II Instructional Focus Calendar Instructional Day # 23 24 25 26 27 28 29 30 31 32 33 34 35
Calendar Date
7‐Feb 8‐Feb 11‐Feb 12‐Feb 13‐Feb 14‐Feb 15‐Feb 19‐Feb 20‐Feb 21‐Feb 22‐Feb 25‐Feb 26‐Feb
27‐Feb 36
28‐Feb 37
Standard Addressed
BCS‐PAII‐1 BCS‐PAII‐6 BCS‐PAII‐1 BCS‐PAII‐6 BCS‐PAII‐1 BCS‐PAII‐6 BCS‐PAII‐1 BCS‐PAII‐6 BCS‐PAII‐1 BCS‐PAII‐6 BCS‐PAII‐1 BCS‐PAII‐6 BCS‐PAII‐1 BCS‐PAII‐6 BCS‐PAII‐1‐6 BCS‐PAII‐1‐6 BCS‐PAII‐1‐6 BCS‐PAII‐1‐6 BCS‐PAII‐1‐6 BCS‐PAII‐1‐6 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8
Project-Based Instruction
FBLA in the Classroom
Spring 2013
Current Event
Current Event #5
Closing Projects
Current Event #6
LTP ‐ Group Assignments Rein. Project‐ LTP Grp 1 Rein. Project‐ LTP Grp 1 Rein. Project‐ LTP Grp 1 Rein. Project ‐ LTP Grp 2
Current Event #7
Rein. Project ‐ LTP Grp 2
LTP ‐ Group 2
Accounting II Instructional Focus Calendar Instructional Day #
Calendar Date
1‐Mar 38
4‐Mar 39
5‐Mar 40
6‐Mar 41
7‐Mar 42
8‐Mar 43
Standard Addressed
BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8
Project-Based Instruction
LTP ‐ Grp 2
FBLA in the Classroom
Spring 2013
Current Event
Current Event #8
LTP ‐ Grp 3
Uncollectibles Projects
LTP ‐ Grp 3
Current Event #9
Accounting II Instructional Focus Calendar Instructional Day #
Calendar Date
11‐Mar 44
12‐Mar 45
13‐Mar 46
14‐Mar 47
18‐Mar 48
19‐Mar 49
Standard Addressed
BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8
Project-Based Instruction
Asset Projects & LTP Grp 3
Asset Projects & LTP Grp 4
FBLA in the Classroom
Spring 2013
Current Event
Current Event #10
Accounting II Instructional Focus Calendar Instructional Day #
Calendar Date
20‐Mar 50
21‐Mar 51
22‐Mar 52
1‐Apr 53
2‐Apr 54
3‐Apr 55
Standard Addressed
BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8
Project-Based Instruction
FBLA in the Classroom
Spring 2013
Current Event
Current Event #11
Inventory Projects & LTP Grp Inventory Projects & LTP Grp 4
Inventory Projects & LTP Grp 4
Accounting II Instructional Focus Calendar Instructional Day #
Calendar Date
4‐Apr 56
5‐Apr 57
8‐Apr 58
9‐Apr 59
10‐Apr 60
11‐Apr 61
Standard Addressed
BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8
Project-Based Instruction
FBLA in the Classroom
Spring 2013
Current Event
Current Event #12
Notes & Interest Project & LTP Group 5
Notes & Interest Project & Notes & Interest Project & LTP Group 5
Reinforcement Activity & LTP Grp 5
Accounting II Instructional Focus Calendar Instructional Day #
Calendar Date
12‐Apr 62
15‐Apr 63
16‐Apr 64
17‐Apr 65
18‐Apr 66
19‐Apr 67
Standard Addressed
BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8
Project-Based Instruction
Reinforcement Activity & LTP Grp 5
FBLA in the Classroom
Spring 2013
Current Event
Current Event #13
Reinforcement Activity & LTP Grp 6
Revenue & Expenses Projects & LTP Grp 7
Revenue & Expenses Projects & LTP Grp 7
Current Event #14
Accounting II Instructional Focus Calendar Instructional Day #
Calendar Date
22‐Apr 68
23‐Apr 69
24‐Apr 70
25‐Apr 71
26‐Apr 72 73 74 75
29‐Apr 30‐Apr 1‐May
Standard Addressed
BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐2 BCS‐PAII‐3 BCS‐PAII‐5 BCS‐PAII‐6 BCS‐PAII‐8 BCS‐PAII‐7 BCS‐PAII‐9 BCS‐PAII‐7 BCS‐PAII‐9 BCS‐PAII‐7 BCS‐PAII‐9
Project-Based Instruction
FBLA in the Classroom
Spring 2013
Current Event
Closing Projects & LTP ‐ All Closing Projects & LTP ‐ All Groups "Clean Up"
Closing Projects & LTP ‐ All Groups "Clean Up"
Current Event #15
Accounting II Instructional Focus Calendar Instructional Day # 76 77 78 79 80
Calendar Date
2‐May 3‐May 6‐May 7‐May 8‐May
83 84 85 86 87 88 89
BCS‐PAII‐7 BCS‐PAII‐9 BCS‐PAII‐7 BCS‐PAII‐9 BCS‐PAII‐7 BCS‐PAII‐9 BCS‐PAII‐7 BCS‐PAII‐9 BCS‐PAII‐7 BCS‐PAII‐9
Project-Based Instruction
FBLA in the Classroom
Current Event
Partnership Projects Partnership Projects
Current Event #16
9‐May
BCS‐PAII‐7 BCS‐PAII‐9
International Sales Projects
10‐May
BCS‐PAII‐all
International Sales Projects
Current Event #17
13‐May 14‐May 15‐May 16‐May 17‐May 20‐May 21‐May
BCS‐PAII‐all BCS‐PAII‐all BCS‐PAII‐all BCS‐PAII‐all BCS‐PAII‐all BCS‐PAII‐all BCS‐PAII‐all
Simulation & LTP Wrapup Simulation & LTP Wrapup Simulation & LTP Wrapup Simulation & LTP Wrapup Simulation & LTP Wrapup REVIEW FOR FINAL REVIEW FOR FINAL FINALS FINALS
Current Event #18
81 82
Standard Addressed
Spring 2013
FBLA Acct Practice Test (used as posttest for course)
Class Projects
Project Based Instruction Spring 2013 Course – Accounting II
Project
#1-Worksheet for a Merchandising Business
#2-Financial Statements for a Merchandising Business
#3-Purchasing, Depreciating, and Disposing of Plant Assets
What the students should learn…
What the students should have done….
GPS
How to complete a worksheet for a merchandising business.
A worksheet for Carol’s Closet.
How to complete and analyze financial statements for a merchandising business.
Financial statements for Osborn Corporation.
BCS-PAII-1. Students will apply the various steps of the accounting cycle for corporations and partnerships and explain the purpose of each step. BCS-PAII-6. Students will create, interpret, and analyze end-of-fiscal-period activities and financial statements.
How to journalize transactions concerning plant asset acquisition and disposal, how to depreciate plant assets
Completed journals and plant asset records for two plant assets (straight-line and doubledeclining methods)
BCS-PAII-2. Students will use GAAP to determine the value of assets. f) Apply appropriate accounting concepts and techniques for acquisitions, depreciation, depletion, and disposal of assets.
Class Project #1
Name _______________________ Osborn Corporation Project – Completing Worksheets BCS-PAII-1. Students will apply the various steps of the accounting cycle for corporations and partnerships and explain the purpose of each step. h) Use manual and computerized accounting systems. BCS-PAII-2. Students will use GAAP to determine value of assets. a) Differentiate current and long-term assets and analyze their effect on financial statements. BCS-PAII-3. Students will use GAAP to determine value of liabilities. a) Differentiate current and long-term liabilities and analyze their effect on financial statements. BCS-PAII-4. Students will use GAAP to determine the value of owner’s equity. b) Analyze and record investments by stockholders and the declaration and payment of dividends for a corporation. BCS-PAII-5. Students will use GAAP to determine the value of revenues and expenses. a) Analyze the effects of revenue on financial statements. BCS-PAI-9. Students will interpret and analyze financial statements. a) Explain how GAAP provide guidance and structure for preparing financial statements. b) Prepare and analyze the income statement and balance sheet of a business using vertical analysis. c) Prepare and analyze a statement of stockholders’ equity. d) Determine the cost of goods sold and gross profit for a merchandising business. e) Prepare and income statement for a merchandising business.
Directions: Complete the worksheet for Osborn Corporation. The steps are as follows: a. Complete the trial balance using current ledger accounts. b. Complete the adjustments a-h using the provided information. c. Extend the balances to the income statement and balance sheet columns. d. Calculate the Federal Income Tax adjustment. e. Calculate Net Income or Loss. Rubric Activity
Points Possible Trial Balance 26 Adjustments A-H 32 Extending Amounts 26 Net Income/Loss 16 Project Totals 100 Grade
Points Earned
Student Work #1
Osborn Corporation Income Statement For Year Ended December 31, 2012 (Working 1)
(Working 2)
(Almost Done)
(Totals)
% OF NET SALES
Revenue: Sales
$704,809.54
Less: Sales Discount Sales Returns and Allowances
$615.25 $4,789.84
$5,405.09
Net Sales
$699,404.45
100.0%
$370,049.30
52.9%
$329,355.15
47.1%
$243,204.59
34.8%
Net Income before Federal Income Tax Less Federal Income Tax Expense
$86,150.56 $17,541.19
12.3% 2.5%
Net Income after Federal Income Tax
$68,609.37
9.8%
Cost of Merchandise Sold: Merchandise Inventory, Jan 1, 2012
$228,189.80
Purchases Less: Purchases Discount Purchases Returns and Allowances
$369,485.04 $3,058.89 $4,800.85
$7,859.74
Net Purchases
$361,625.30
Total Cost of Merch. Available for Sale Less Mdse. Inventory, Dec. 31, 2012
$589,815.10 $219,765.80
Cost of Merchandise Sold: Gross Profit on Sales Expenses: Advertising Expense
$8,500.00
Cash Short and Over
$9.33
Credit Card Fee Expense
$12,458.22
Depr. Exp. - Office Equipment
$4,580.00
Depr. Exp. - Store Equipment
$4,890.00
Insurance Expense
$7,200.00
Miscellaneous Expense
$7,480.00
Payroll Taxes Expense
$13,130.64
Rent Expense
$24,000.00
Salary Expense
$145,896.00
Supplies Expense - Office
$2,749.00
Supplies Expense - Store
$3,043.35
Uncollectible Accounts Expense
$1,720.00
Utiltiies Expense
$7,548.05
Total Expenses
Analyzing an Income Statement Actual Acceptable Result Acceptable Percentage Percentage Yes No
Component Total Expenses Net income before federal income tax
Earnings Per Share Net Income after Federal Income Tax $68,609.37
Recommended Action if Needed
No more than 30.0%
34.80%
x
cut down expenses
No less than 15.0%
12.30%
x
reducing expenses or increasing expense
÷ ÷
Number of Shares Outstanding $8,000.00
₌
Earnings Per Share
₌
$8.58
Price-Earnings Ratio Market Price Per Share $104.50
÷ ÷
Earnings Per Share $8.58
₌ ₌
Price-Earnings Ratio 12.1
Interstate Tires, Inc. Statement of Stockholders' Equity For Year Ended December 31, 2012
Capital Stock: $25.00 Per Share January 1, 2012, 100,000 Shares Issued Issued during current Year, 10,000 Shares
$187,500.00 $12,500.00
Balance, Dec 31, 2012, 110,000 Shares Issued
$200,000.00
Retained Earnings: Balance, January 1, 2012 Net Income after Federal Income Tax for 2012 Less Dividends declared during 2012 Net Increase during 2012 Balance, December 31, 2012 Total Stockholders' Equity, December 31, 2012
$19,735.06 $68,609.37 $30,000.00 $38,609.37 $58,344.43 $258,344.43
Interstate Tires, Inc. Balance Sheet 31-Dec-12
Assets Current Assets: Cash
$15,218.25
Petty Cash
$250.00
Accounts Receivable Less Allowance for Uncollectible Accounts
$22,485.28 $2,772.05
Merchandise inventory
$19,713.23 $219,765.80
Supplies - Office
$409.15
Supplies - Store Prepaid Insurance
$776.39 $800.00
Total Current Assets
$256,932.82
Plant Assets: Office Equipment Less Acc. Depr. - Office Equipment
$22,183.08 $13,063.00
$9,120.08
Store Equipment Less Acc. Depr. - Store Equipment
$45,184.98 $16,140.00
$29,044.98
Total Plant Assets Total Assets
$38,165.06 $295,097.88 Liabliities
Current Liabilities: Accounts Payable
$22,154.17
Federal Income Tax Payable
$1,541.19
Employee Income Tax Payable
$1,025.00
Social Security Tax Payable
$753.80
Mediare Tax Payable
$176.29
Sales Tax Payable Unemployment Tax Payable - Federal
$2,487.00 $24.00
Unemployment Tax Payable - State
$162.00
Health Insurance Premiums Payable
$800.00
US Savings Bonds Payable U\nited Way Donations Payable Dividends Payable
$60.00 $70.00 $7,500.00
Total Liabilities
$36,753.45 Stockholders' Equity
Capital Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity
$200,000.00 $58,344.43
Comes from Statement of $258,344.43 Stockholder's Equity $295,097.88
Class Project #2
Name _______________________ Carol’s Closet Project – Completing Financial Statements BCS-PAII-1. Students will apply the various steps of the accounting cycle for corporations and partnerships and explain the purpose of each step. d) Prepare and use an 8- and/or 10-column worksheet. e) Analyze and prepare adjusting entries, including accruals and referrals. h) Use manual and computerized accounting systems. BCS-PAII-2. Students will use GAAP to determine value of assets. d) Apply appropriate accounting techniques for uncollectible accounts. h) Explain, compare, and analyze depreciation methods and their effect on the value of assets. BCS-PAII-4. Students will use GAAP to determine the value of owner’s equity. b) Analyze and record investments by stockholders and the declaration and payment of dividends for a corporation.
Directions: Using the worksheet given, complete the financial statements for Carol’s Closet. The steps are as follows: a. Complete the income statement using the worksheet provided. b. Complete the statement of stockholders’ equity. c. Complete the balance sheet. d. Analyze your results and make recommendations as needed. Rubric Activity Income Statement Statement of SE Balance Sheet Analysis Project Totals
Points Possible 35 20 35 10 100 Grade
Points Earned
Student Work #2
APPLICATION PROBLEM 14-7
Name: Class:
You have successfully completed this problem. Carol's Closet Work Sheet For Year Ended December 31, 20-1
ACCOUNT TITLE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48
Cash Petty Cash Accounts Receivable Allow. for Uncoll. Accts. Merchandise Inventory Supplies--Office Supplies--Store Prepaid Insurance Office Equipment Acc. Depr.--Office Equipment Store Equipment Acc. Depr.--Store Equipment Accounts Payable Federal Income Tax Payable Employee Income Tax Payable Social Security Tax Payable Medicare Tax Payable Sales Tax Payable Unemployment Tax Payable--Federal Unemployment Tax Payable--State Health Insurance Premiums Payable U.S. Savings Bonds Payable United Way Donations Payable Dividends Payable Capital Stock Retained Earnings Dividends Income Summary Sales Sales Discount Sales Returns and Allowances Purchases Purchases Discount Purch. Returns and Allowances Advertising Expense Credit Card Fee Expense Depr. Exp.--Office Equipment Depr. Exp.--Store Equipment Insurance Expense Miscellaneous Expense Payroll Taxes Expense Rent Expense Salary Expense Supplies Expense--Office Supplies Expense--Store Uncollectible Accounts Expense Utilities Expense Federal Income Tax Expense
49 50 51
Net Income after Federal Income Tax
2
TRIAL BALANCE DEBIT CREDIT 28,548.25 500.00 32,518.28 155.25 229,282.36 6,128.25 4,218.36 12,000.00 28,187.25 5,158.25 42,841.05 12,483.25 21,543.20
3
4
ADJUSTMENTS DEBIT CREDIT
(c)
(d)
5,498.40
(a) (b) (e)
4,721.25 3,648.25 10,000.00
(f)
5,216.00
(g)
4,820.00
(h)
3,005.22
5
6
INCOME STATEMENT DEBIT CREDIT
9,548.25
1,248.25 822.00 192.24 2,415.25 33.60 226.80 960.00 75.00 100.00 11,000.00 55,000.00 172,980.13 44,000.00 (c)
9,548.25
(f) (g) (e)
5,216.00 4,820.00 10,000.00
5,105.25 18,152.25 28,000.00 193,971.80
1,244,950.77
(a) (b) (d)
4,721.25 3,648.25 5,498.40
(h)
3,005.22 46,457.37
46,457.37
16,025.00 7,015.95 5,216.00 4,820.00 10,000.00 5,105.25 18,152.25 28,000.00 193,971.80 4,721.25 3,648.25 5,498.40 4,818.88 47,005.22 853,636.09 116,469.71 970,105.80
2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27
29 30 31 32
5,015.25 7,058.05
16,025.00 7,015.95
1
28
3,154.15 7,148.15 489,335.54 5,015.25 7,058.05
4,818.88 44,000.00 1,244,950.77
8
9,548.25 948,484.25
948,484.25 3,154.15 7,148.15 489,335.54
7
BALANCE SHEET DEBIT CREDIT 28,548.25 500.00 32,518.28 5,653.65 238,830.61 1,407.00 570.11 2,000.00 28,187.25 10,374.25 42,841.05 17,303.25 21,543.20 3,005.22 1,248.25 822.00 192.24 2,415.25 33.60 226.80 960.00 75.00 100.00 11,000.00 55,000.00 172,980.13 44,000.00
33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48
970,105.80 970,105.80
419,402.55
302,932.84
49 50
419,402.55
116,469.71 419,402.55
51
Class Project #3
Name _______________________
Dealing with Plant Assets Project BCS-PAII-2. Students will use GAAP to determine the value of assets. f) Apply appropriate accounting concepts and techniques for acquisitions, depreciation, depletion, and disposal of assets. g) Explain, compare, and analyze various depreciation methods and their effect on the value of assets. i) Use manual and computerized accounting systems for assets.
Complete the following activities concerning plant assets for Meyer’s Home Furnishings. Activity Plant Asset Record #1 a. Fill in the top part of the record. b. Calculate depreciation through 20x3. c. Fill in the disposal section in 20x4. Plant Asset Record #2 a. Fill in the top part of the record. b. Calculate depreciation through 20x4. c. Fill in the disposal section in 20x5. Cash Payments Journal a. Calculate the purchase of both plant assets. b. Calculate the payment of propery taxes. Cash Receipts Journal a. Record the sale of Plant Asset #1 b. Record the sale of Plant Asset #2 General Journal a. Record the partial year’s accumulated depreciation for Plant Asset #1. Daily Totals
Notes Double-declining method Straight-line method
Points Possible 30
30
10 20 10 100 Grade
Points Earned
Student Work #3
PLANT ASSET RECORD No. Description
892 Dining Table
Date Bought
Jan. 5 20X1Serial No.
Estimated Useful Life
5 Years
Disposed of: Date Year 20X1 20X2 20X3 20X4
Estimated Salvage Value
Estimated Useful Life
$2,200.00
$200.00
Depreciation Method
Double Decline
Sold P Disposal Amount
Disposed of: Date Year 20X1 20X2 20X3 20X4 20X5
Annual Depr. Expense 40.00% 40.00% 40.00% 40.00%
893 Air Purifier
6 Years
Estimated Salvage Value
Room Furnishings
Original Cost
Beginning Book Value $2,200.00 $1,320.00 $792.00 $475.20
5-Apr Serial No.
1205
903452
PLANT ASSET RECORD No.
Date Bought
Gen. Led. Acct.
Discarded 6-Jan
Description
General Ledger Acct. No.
BE35CC
$100.00
Discarded 2-Jul Beginning Book Value $1,300.00 $1,150.00 $950.00 $750.00 $550.00
Traded 300 Acc. Depr. $880.00 $528.00 $316.80 $190.08
General Ledger Acct. No. Gen. Led. Acct.
Equipment
Original Cost
$1,300.00
Depreciation Method
Striaght Line
Sold P Disposal Amount Annual Depr. Expense $150.00 $200.00 $200.00 $200.00 $100.00
Ending Book Value $1,320.00 $792.00 $475.20 $285.12
1215
Traded 200 Acc. Depreciation $150.00 $350.00 $550.00 $750.00 $850.00
Ending Book Value $1,150.00 $950.00 $750.00 $550.00 $450.00
CASH RECEIPTS JOURNAL 1
2
3
4
ACCOUNTS DATE
ACCOUNT TITLE
DOC.
POST.
NO.
REF.
GENERAL DEBIT
CREDIT
6
PAGE
2
7
8
SALES TAX
SALES
RECEIVABLE
SALES
PAYABLE
DISCOUNT
CASH
CREDIT
CREDIT
CREDIT
DEBIT
DEBIT
2012 1
Jan
2 3 4 5 6
July
6 Accum. Depr. - Room Furnishings Room Furnishings Gain on Plant Assets 2 Accum. Depr. - Equipment Loss on Plan Assets Equipment
R4
$1,724.80
$300.00 $2,200.00 $175.20
R77
$550.00 $250.00
1 2 3
$200.00
4 5
$450.00
6
GENERAL JOURNAL
PAGE 1
DATE
ACCOUNT TITLE
DOC. NO.
POST. REF.
18 2
GENERAL DEBIT CREDIT
2012 1
July
2 3 4 5
Dec.
2 Depreciation Expense - Equipment Accumulated Depreciation - Equipment Adjusting Entries 31 Depreciation Expense - Room Furnishings Accumulated Depreciation - Room Furnishings
M31
$200.00
1
$200.00
2 3
$38,520.00
4
$38,520.00
5
CASH PAYMENTS JOURNAL 1
DATE
ACCOUNT TITLE
CK. NO.
POST. REF.
2
GENERAL DEBIT CREDIT
3
PAGE
23
4
5
ACCOUNTS PURCHASES PAYABLE DISCOUNT DEBIT CREDIT
CASH CREDIT
2012 1 2 3
Jan Feb Apr
5 Room Furnishings 26 Property Tax Expense 5 Equipment
435 534 577
$2,200.00 $12,800.00 $1,300.00
$2,200.00 $12,800.00 $1,300.00
1 2 3
Long-term Project
Long Term Project – Accounting II Overview: Students will become accountants for Zenith Global Imports for the month of December. Groups will be formed by the instructor based on work ethic and class grades. Each group will select a manager to be the liaison between their work teams and the instructor. An entire accounting cycle will be completed for ZGI. By exchanging information, all groups will work together to successfully complete the cycle. All students will be expected to analyze the results of their work and complete a reflection about the project. Procedures: 1. Source documents will be distributed by Group 1. 2. All groups will work on their journals. 3. As they finish journals, they will pass them along to the groups who need to post transactions and totals to the ledgers (general, accounts payable, accounts receivable). 4. Once all journals are posted to the ledger, appropriate groups will receive the information to complete the worksheet, financial statements, adjusting and closing entries, and post closing trial balance. 5. After all of the tasks are completed, all students will analyze the financial statements to make individual recommendations for ZGI. Long Term Project Assignments Group # Members
Phase One Tasks
1 Larsen, Shahina, William, Jasmine P. Sort source documents Purchases journal Post A/P ledger
2 Chelsey, Alexandra, Adre’ona, Ariel
3 Sydney, Delaney, Ryan, Astin
4 Jadzia, Jessica, Dorothy, Drella
Sales Journal Post Cash Payments Journal
General Journal Post Cash Receipts & General Journal Balance Sheet State. Of Stock Eq. Post Closing Entries
Cash Payments Journal Writing Checks Post Purchases & Sales Journals Income Statement Post Close. Trial Bal.
5 DeAsia, Kourtnei, Jasmine A., Steve Cash Receipts Journal Post A/R ledger
Phase Two Tasks Payroll register Worksheet Closing Entries Employee Adjusting Recon. Of Bank Earnings Entries State. Records Schedule of Post Adjusting A/P & A/R Entries Phase Three All Students Individually – Analyze Financial Statements Tasks
Zenith Global Imports Post-Closing Trial Balance 31-Dec-13
Debit Cash Petty Cash Accounts Receivable Allow. For Uncoll. Accounts Merchandise Inventory Supplies - Office Supplies - Store Prepaid Insurance Office Equipment Acc. Dept - Office Equipment Store Equipment Acc. Depr - Store Equipment Accounts Payable Federal Income Tax Payable Emp. Income Tax Payable Social Security Tax Payable Medicare Tax Payable Sales Tax Payable Unemployment Tax Pay. - Federal Unemployment Tax Pay. - State Health Insurance Premiums Payable US Savings Bonds Payable United Way Donations Payable Dividends Payable Capital Stock Retained Earnings Total
Credit
Long-term Project Student Work
SALES JOURNAL
PAGE 1
2
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Dec.
1 1 3 5 8 9 13 14 15 16 17 23 23 24 24 29 31
ACCOUNT DEBITED
Leon Morales Amy Zellner Luis T. Arroyo Midori Okano Baymont Design Firm Elena Ramos Serio Hospitatality Center Mei-Yu Sun Eric Kim Huntington Corporation Alesha Edgar Grandview Conference Center Amy Zellner B Baymont D Design i Fi Firm Leon Morales Totals
3
SALES TAX
ACCOUNTS DATE 2013
12
SALE
POST.
RECEIVABLE
SALES
PAYABLE
NO.
REF.
DEBIT
CREDIT
CREDIT
$ 2,292.72 $ 1,147.13 $ 511.07 $ 1,673.27 $ 2,128.00 $ 313.55 $ 4,443.20 $ 428.26 $ 351.79 $ 3,107.07 $ 1,078.30 $ 2,475.61 $ 442.24 $ 22,482.99 482 99 $ 218.49 $ 23,093.69
$ 2,098.60 $ 1,050.00 $ 467.80 $ 1,531.60 $ 2,128.00 $ 287.00 $ 4,067.00 $ 392.00 $ 322.00 $ 2,844.00 $ 987.00 $ 2,266.00 $ 404.80 $ 2,48 4822.99 99 $ 199.99 $ 21,528.78
$ 194.12 $ 97.13 $ 43.27 $ 141.67 $ $ 26.55 $ 376.20 $ 36.26 $ 29.79 $ 263.07 $ 91.30 $ 209.61 $ 37.44 $ $ 18.50 $ 1,564.91
(1130)
(4110)
(2145)
936 937 938 939 940 941 942 943 944 945 946 947 948 949 949 950
140 165 110 145 115 150 155 160 135 130 120 125 165 115 140
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
PURCHASES JOURNAL
PAGE 1
DATE
ACCOUNT CREDITED
PURCH.
POST.
PURCHASES DR.
NO.
REF.
ACCTS. PAY. CR.
2013 1 2 3 4 5 6 7 8 9 10 11
Dec
1 East Porcelain Importers Pacific World Imports 3 Islander Trading Company 5 Savannah Imports Ltd. 12 Savannah Imports Ltd. Wesley Distributors, Inc. 13 FAB International Interiors 15 East Porcelain Importers 20 International Illuminations, Inc. Aussie Accents, Inc. 23 Pacific World Imports, Inc.
842 843 844 845 846 847 848 849 850 851 852
220 250 245 255 255 260 230 220 240 210 250
$2,854.00 $660.00 $495.00 $1,350.00 $549.54 $690.00 $214.68 $342.00 $1,176.00 3,075.00 $1,626.00
1 2 3 4 5 6 7 8 9 10 11
12
12
13
13
14
14
15
15
16
16
17
17
18
18
CASH RECEIPTS JOURNAL 1
2
3
4
ACCOUNTS DATE
ACCOUNT TITLE
DOC.
POST.
NO.
REF.
GENERAL DEBIT
PAGE
23
6
7
8
SALES TAX
SALES
RECEIVABLE ALE PAYABLE CREDIT
CREDIT
RED
CREDIT
DISCOUNT
CASH
DEBIT
DEBIT
2013 1 2 3 4 5 6 7 8 9 10
Dec.
2 2 3 5 6 9 10 12 12 13
11
16
12
17 17 17 19 22 23 24 26 29 31 31
13 14 15 16 17 18 19 20 21 22 23 24 25
Baymont Design Firm Midori Okano
9 Grandview Conference Center Mei-Yu Sun Alesha Edgar
9 Luis T.Arroyo Huntington Corp Elena Ramos Amy Zellner Leon Morales Baymont Design Firm 9 Serio Hospitality Center Luis T.Arroyo Arroyo Serio Hospitality Center 9 Elena Ramos Modori Okano 9 Totals
R453 R454
TS55 R455 R456 R457
TS29 R458 R459 R460 R461 R462 R463 TS57 R464 R465 R466 TS58 R467 R468 TS59
115 145 9 125 160 120 9 110 130 150 165 140 115 9 155 110 155 9 150 145 9
$9,439.09
$9,439.09
$269.20
$269.20
##
$436.20
$5,874.75 $323.82 $266.40
266.4
##
$1,101.07
##
$3,286.91
##
$3,242.65
## $31,606.50 ##
$1,385.22 $9,452.05
$2,973.23 $1,313.50 $200.05 $1,164.67 $387.00 $2,128.00 $463.36 $511.07 $4,443.20 $313.55 $1,535.61 $0.00
$0.00
$5,151.92 $5,874.75 $323.82 $13,004.56 $2,973.23 $1,313.50 $200.05 $1,164.67 $387.00 $42.56 $2,085.44 $38,821.09 $463.36 $511.07 $88.86 $4,354.34 $38,298.35 $313.55 $1,535.61 $16,360.47 $131.42 $143,111.47
CASH PAYMENTS JOURNAL
PAG 1
DATE 1 2 3 4 5 6
Dec
1 2 3 6 7 10
7 8 9 10 11 12 13 14
12 12 13 13 14 14
15 16 17 18 19
14 14 15
20 21 22 23 24 25
15
ACCOUNT TITLE
Rent Expense Pacific World Imports Wesley Distrubutors Inc Islander Trading Co. Advertising Expense Office Supplies Store Supplies Miscellaneous Expense Aussie Accents, Inc Islander Trading Co. Miscellaneous Expense International Illumination Savannah Imports, Ltd. Employee Income Tax Payable Social Security Tax Payable Medicare Tax Payable Sales Tax Payable Miscellaneous Expense Salary Expense Employee Income Tax Payable Social Security Tax Payable Medicare Tax Payable U.S. Savings Bonds Payable United Way Donations Payable Carried Forward
CK. NO.
902 903 904 905 906 907
908 909 910 911 912 913
914 915 916
POST. REF.
6145 250 260 245 6105 1145 1150 6135 210 245 6135 240 235 2130 2135 2140 2145 6135 6150 2130 2135 2140 2165 2170 9
2
GENERAL DEBIT CREDIT
3
4
5
ACCOUNTS CHASES PAYABLE COU CASH RED CREDIT DEBIT
$1,000.00 $2,403.60 $1,093.15 $484.80 $750.00 $15.90 $75.40 $32.35
$1,000.00 $2,403.60 $1,093.15 $484.80 $750.00 $123.65
1 2 3 4 5 6 7 8
$7,098.19 $495.00 ## $30.00 $3,406.26 $1,350.00 ## $1,120.00 $2,104.57 $492.19 $9,377.70 $50.00 $8,573.55
$23,621.66
23
$7,098.19 $485.10 $30.00 $3,406.26 $1,323.00 $3,716.76
9 10 11 12 13 14 15 16
$9,377.70 $50.00 $7,265.68 $572.00 $531.55 $124.32 $55.00 $25.00 $1,307.87
17 18 19 20 21 22 23 24
$16,331.00 ## $38,607.89
25
CASH PAYMENTS JOURNAL
PAG 1
DATE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Dec
15 16 16 17 17 19 21 22 24 26 28 28 30
ACCOUNT TITLE
Brought Forward Prepaid Insurance Utilities Expense Miscellaneous Expense Hoosier Imports Savannah Imports, Ltd. East Porcelain Importers Miscellaneous Expense Utilities Expense Dividends Payable Aussie Accents, Inc. East Porcelain Importers Supplies--Store Miscellaneous Cash Short and Over 31 Salary Expense Employee Income Tax Payable Social Security Tax Payable Medicare Tax Payable Health Insurance Payable U.S. Savings Bonds Payable United Way Donations Payable 31 Totals
CK. NO.
917 918 919 920 921 922 923 924 925 926 927 928
929
2160 2165
POST. REF.
9 1160 6170 6135 235 255 220 6135 6170 2180 210 220 1150 6135 6110 6150 2130 2135 2140 2160 2165 2170 9
2
GENERAL DEBIT CREDIT
$23,621.66
$1,307.87
$56.04
$82.44 $96.71 $0.16 $8,517.30
$32,374.31
3
4
24 5
ACCOUNTS CHASES PAYABLE COU CASH RED CREDIT DEBIT
$16,331.00 ## $38,607.89 $850.00 $850.00 $325.87 $325.87 $66.00 $66.00 $2,395.00 $2,395.00 $549.54 ## $538.55 $2,214.78 $2,214.78 $56.04 $364.54 $364.54 $10,010.00 $10,010.00 $2,775.00 ## $2,719.50 $2,854.00 $2,854.00 $179.31
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
$6,934.71 $563.00 $528.09 $123.50 $288.00 $55.00 $25.00 $2,865.46
16 17 18 19 20 21 22
$38,735.73 ## $68,116.19 (2110) 5120 (1110)
23 24 25
GENERAL JOURNAL
PAGE 1
DATE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29
Dec
ACCOUNT TITLE
DOC. NO.
2 Miscellaneous Expense M786 Cash 2 Credit Card Expense Fee M787 Cash 5 Supplies-Office M788 Accounts Payable-Complete Office Supplies 7 Dividends M789 Dividends Payable 8 Supplies-Store M790 Purchases 15 Payroll Taxes Expense M798 Social Security Tax Payable Medicare Tax Payable Unemploument Tax Payable-Federal Unemploument Tax Payable-State 24 Accounts Payable-Aussie Accents DM22 Purchases Returns and Allowances 27 Sales Returns and Allowances CM60 Sales Tax Payable Accounts Receivable- Midori Okano 30 Miscellaneous Expense M803 Cash 30 Credit Card Expense Fee M804 Cash 31 Payroll Taxes Expense M807 Social Security Tax Payable Medicare Tax Payable Unemployment Tax Payable-Federal Unemployment Tax Payable-State
POST. REF.
6135 1110 6115 1110 1145 2110/215 3130 2180 1150 5110 6140 2135 2140 2150 2110/210 5130 4130 1130/145 6135 1110 6115 1110 6115 1110 6140 2135 2140 2150 2155
17 2
GENERAL DEBIT CREDIT
$17.90
1
$17.90 $535.65
2 3
$535.65 $78.71
4 5
$78.71 $10,010.00
6 7
$10,010.00 $59.95
8 9
$59.95 $696.79
10 11
$531.55 $124.32 $5.28 $35.64 $300.00
12 13 14 15 16
$300.00 $126.00 $11.66
17 18 19
$137.66 $18.25
20 21
$18.25 $889.32
22 23
$889.32 $695.30
24 25
$528.09 $123.50 $5.64 $38.07
26 27 28 29
GENERAL JOURNAL
PAGE 1
DATE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Dec
ACCOUNT TITLE
DOC. NO.
Adjusting Entries 31 Supplies Expense Office Supplies - Office 31 Supplies Expense Store Supplies - Store 31 Insurance Expense Prepaid Insurance 31 Merchandise Inventory Income Summary 31 Uncollectible Accounts Expense Allowance for Uncollectible Acccounts 31 Depreciation Expense - Office Equipment Accumalated Depreciation - Office Equipment 31 Depreciation Expense - Store Equipment Accumalated Depreciation - Store Equipment 31 Federal Income Tax Expense Federal Income Tax Payable
POST. REF.
18 2
GENERAL DEBIT CREDIT 1
6155 1145 6160 1150 6130 1160 1140 3140 6165
$410.00 $776.69
3 4
$776.69 $2,108.28
5 6
$2,108.28 $40,144.95
7 8
$40,144.95 $235.63
9 10
$235.63
1135
6120 1210 6125 1220 7110 2120
2
$410.00
$5,610.00
11 12
$5,610.00 $5,118.25
13 14
$5,118.25 $5,106.71
15 16
$5,106.71
17
GENERAL JOURNAL
PAGE 1
DATE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
Dec
ACCOUNT TITLE
Closing Entries 31 Sales Purchases Discount Purchases Return and Allowances Income Summary 31 Income Summary Sales Discount Sales Returns and Allowances Purchases Advertising Expenses Cash Short and Over Credit Card Fee Expense Depr.Exp.-Office Equipment Depr.Exp.-Store Equipment Insurance Expense Miscellaneous Expense Payroll Taxes Expense Rent Expense Salary Expense Supplies Expense-Office Supplies Expense-Store Uncollectible Accounts Expense Utilities Expense Federal Income Tax Expense 31 Income Summary Retained Earnings 31 Retained Earnings Dividends
DOC. NO.
POST. REF.
19 2
GENERAL DEBIT CREDIT 1
4110 5120 5130 3140 3140 4120 4130 5110 6105 6110 6115 6120 6125 6130 6135 6140 6145 6150 6155 6160 6165 6170 7110 3140 3120 3120 3130
$1,055,477.85 $10,949.03 $20,462.68
2 3 4
$1,086,889.56 $1,020,047.08
5 6
$10,847.91 $12,918.58 $691,642.77 $11,622.40 $3.92 $10,616.77 $5,610.00 $5,118.25 $2,108.28 $5,041.68 $13,321.51 $12,000.00 $191,347.50 $410.00 $776.69 $235.63 $9,318.48 $37,106.71 $100,987.43
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
$100,987.43 $10,010.00
26 27
$10,010.00
28
Current Event Activity
Current Events 2012 2013
Class
Current Events
Accounting II
RSW #1 – Current Event
Accounting II
RSW #2 – Current Event
Accounting II
FICA Taxes Current Event #3
RSW Activity - Current Event #1 Go to www.money.cnn.com. Select three articles that are there and read them. After you read each one, answer the following questions about them. Article #1 1. What was the title of the article? 2. What does it say? 3. What is your opinion about the article? Article #2 1. What was the title of the article? 2. What does it say? 3. What is your opinion about the article? Article #3 1. What was the title of the article? 2. What does it say? 3. What is your opinion about the article?
Current Event Work
RSW Activity - Current Event #1 Go to www.money.cnn.com. Select three articles that are there and read them. After you read each one, answer the following questions about them. Article #1 1. What was the title of the article? “Forget HD, get ready for ‘Ultra HD’ TV” 2. What does it say? It talks about the new proposed television with more pixels that have similar effects to televisions with 3D technology. There are a few setbacks though, the TV would be really pricey, not many people have room for and 80100 inch TV in their living room. 3. What is your opinion about the article? I think it’s a good idea but it’s not very practical. The manufacture price of the TV is astronomical not to mention the price of sell. If they come up with a way to condense in size and price it would bring in good sales numbers. Article #2 1. What was the title of the article? “Facebook charges $100 to message Mark Zuckerburg” 2. What does it say? Facebook is experimenting with different sources for revenue on of which being paid messages with people who aren’t friends with you. To message the founder, Mark, it will cost $100 for it to get sent to his personal inbox. 3. What is your opinion about the article? That price is really a lot to pay for a message and who’s to say that you even get a message in return, does that person have to pay too. Article #3 1. What was the title of the article? “The case for a new, cheaper IPhone” 2. What does it say? Someone came up with the idea for apple to come out with a cheaper IPhone instead of the higher priced ones they normally sell. Many people think that this is a good financial move for Apple. Some believe that if they will lose a percentage of their sales. 3. What is your opinion about the article? I think the idea of a cheaper Iphone is a smart idea. A lot of people would love to get a newer model IPhone but because of the expensive cost they don’t, which means a loss in business for Apple.
FBLA Activity
Strengths
Weakness
Ridge Writing (100 Words or more) How can you overcome your weakness?
FBLA Work
Jadzia H.
Caring
Cooperative Creative
Strengths
Understanding Tough
Weakness
Impatient
Ridge Writing (100 Words or more) How can you overcome your weakness? I often become impatient when I am in a situation that I cannot control but am in a position to change. For example when driving I like to accelerate and keep going. When I run into traffic, I become very annoyed with the constant stopping and starting. If I could control it, I would get out of the traffic, but when I can’t I get REALLY anxious. I should use my understanding nature to make the best of a situation and be as patient as possible. I need to take a step back from the situation, assess it, and think through being impatient.
Student presentations
Student Presentations
Class
20122013
Project
Accounting II
Introductions Presentations
Accounting II
Long-Term Project Business Plans (later changed LTP)
Accounting II
Updated LTP tasks
career development
Teacher Little
Class Business Essentials Business Essentials Business Essentials Accounting I Accounting II Accounting II Accounting II
Assignment Career Portfolio Guest Speaker Mock Interview Guest Speaker Career Portfolio Guest Speaker Mock Interview
Date Spring Spring Spring Fall Spring Spring Spring