Little - Accounting II - 3/22

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 Email: [email protected] Room Number: 408 Phone Number: 478.779.4934 Semester: Spring 2013 Tutorial Days: Monday - Thursday Textbook: Century 21 Accounting, Multi-column Tutorial Hours: By appointment Textbook Price: n/a 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

Level 1 *Business Essentials Level 2 *Legal Environment of Business Level 3 *Entrepreneurial Ventures Level 4 (Work-Based Learning) Level 5 (Work-Based Learning)

Financial Management – Accounting Level 1 * Business Essentials Level 2 * Accounting I Level 3 * Accounting II Level 4 (Work-Based Learning) Level 5 (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

Level of Education Needed

Average Salary

Accountants and Auditors Bachelor’s Degree $54,330 Bookkeeping/Accounting/ Auditing

Clerks Moderate-Term On-the-Job Training $29,619

Budget Analysts Bachelor’s Degree $58,698 Tax Preparers Moderate-Term On-the-Job Training $30,285

Course Schedule Week 1 Accounting Cycle Week 10 Corporation Adjustments & ValuationsWeek 2 Accounting Cycle Week 11 Corporation Adjustments & ValuationsWeek 3 Accounting Cycle Week 12 Corporation Adjustments & ValuationsWeek 4 Accounting Cycle Week 13 Financial Statements Week 5 Accounting Cycle Week 14 Financial Statements Week 6 Accounting Cycle Week 15 Special Topics Week 7 Accounting Cycle Week 16 Special Topics Week 8 Accounting Cycle Week 17 Special Topics Week 9 Accounting Cycle Week 18 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 Percentage

Daily Assignments & Quizzes 30 Class Grade 85Projects 30 Final Exam 15Tests 30 Writings/Journals 10

Total for Class Grade 100% Final Grade 100% Required Material: Black or blue ink pen AND pencil. You will have a storage folder in class for your work.

http://www.edmodo.com/

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 IIInstructional Focus Calendar

Spring 2013

Instructional Day #

Calendar Date

Standard Addressed Project-Based Instruction FBLA in the Classroom Current Event

1 7‐Jan

28‐Jan

BCS‐PAII‐1BCS‐PAII‐2BCS‐PAII‐4

39‐Jan


Reinforcment Activity Chap 9‐13

410‐Jan



511‐Jan



Current Event #1

614‐Jan



BCS‐PAII‐1Reinforcment Activity Chap

715‐Jan BCS‐PAII‐2

BCS‐PAII‐4


816‐Jan


Long Term Project Discussion ‐ Business Plans

917‐Jan


LTP ‐ Business PlansFBLA Acct Practice Test

(used as pretest for course)

1018‐Jan


Personal Budget Activity Current Event #2

1122‐Jan



Spring 2013

Instructional Day #

Calendar Date


1223‐Jan


Chapter 14 Projects

1324‐Jan


1425‐Jan


Current Event #3

1528‐Jan


1629‐Jan


30‐JanBCS‐PAII‐5BCS‐PAII‐6

17 BCS‐PAII‐10

1831‐Jan


191‐Feb


Chapter 15 ProjectsFBLA Region Competition Search (Date of Actual Region Competition)

204‐Feb


Current Event #4

215‐Feb

BCS‐PAII‐1BCS‐PAII‐6

226‐Feb



Spring 2013

Instructional Day #

Calendar Date


237‐Feb


248‐Feb


Current Event #5

2511‐Feb


2612‐Feb


2713‐Feb


2814‐Feb


2915‐Feb


Closing Projects Current Event #6

30 19‐Feb BCS‐PAII‐1‐631 20‐Feb BCS‐PAII‐1‐6 LTP ‐ Group Assignments32 21‐Feb BCS‐PAII‐1‐6 Rein. Project‐ LTP Grp 133 22‐Feb BCS‐PAII‐1‐6 Rein. Project‐ LTP Grp 1 Current Event #734 25‐Feb BCS‐PAII‐1‐6 Rein. Project‐ LTP Grp 135 26‐Feb BCS‐PAII‐1‐6 Rein. Project ‐ LTP Grp 2

36

27‐Feb

BCS‐PAII‐2BCS‐PAII‐3BCS‐PAII‐5BCS‐PAII‐6BCS‐PAII‐8

Rein. Project ‐ LTP Grp 2

37

28‐Feb


LTP ‐ Group 2


Spring 2013

Instructional Day #

Calendar Date


38

1‐Mar


LTP ‐ Grp 2 Current Event #8

39

4‐Mar


LTP ‐ Grp 3

40

5‐Mar

BCS‐PAII‐2BCS‐PAII‐3BCS‐PAII‐5BCS‐PAII‐6BCS‐PAII‐8BCS‐PAII‐2BCS‐PAII‐3

41

6‐Mar BCS‐PAII‐5BCS‐PAII‐6BCS‐PAII‐8

Uncollectibles Projects

42

7‐Mar


LTP ‐ Grp 3

43

8‐Mar


Current Event #9


Spring 2013

Instructional Day #

Calendar Date


44

11‐Mar


45

12‐Mar


46

13‐Mar


47

14‐Mar BCS‐PAII‐5BCS‐PAII‐6BCS‐PAII‐8

Asset Projects & LTP Grp 3 Current Event #10

48

18‐Mar


Asset Projects & LTP Grp 4

49

19‐Mar



Spring 2013

Instructional Day #

Calendar Date


50

20‐Mar


51

21‐Mar


52

22‐Mar


Current Event #11


Inventory Projects & LTP Grp

53

1‐Apr BCS‐PAII‐5BCS‐PAII‐6BCS‐PAII‐8

Inventory Projects & LTP Grp 4

54

2‐Apr


Inventory Projects & LTP Grp 4

55

3‐Apr



Spring 2013

Instructional Day #

Calendar Date


56

4‐Apr


57

5‐Apr


Current Event #12

58

8‐Apr


Notes & Interest Project & LTP Group 5


Notes & Interest Project &

59


Notes & Interest Project & LTP Group 5

60

10‐Apr


61

11‐Apr


Reinforcement Activity & LTP Grp 5


Spring 2013

Instructional Day #

Calendar Date


62

12‐Apr



Current Event #13

63

15‐Apr



64

16‐Apr


65


66

18‐Apr


Revenue & Expenses Projects & LTP Grp 7

67

19‐Apr


Revenue & Expenses Projects & LTP Grp 7

Current Event #14


Spring 2013

Instructional Day #

Calendar Date


68

22‐Apr


69

23‐Apr


70

24‐Apr


Closing Projects & LTP ‐ All

71


Closing Projects & LTP ‐ All Groups "Clean Up"

72

26‐Apr


Closing Projects & LTP ‐ All Groups "Clean Up"

Current Event #15

7329‐Apr


7430‐Apr


751‐May



Spring 2013

Instructional Day #

Calendar Date


762‐May


Partnership Projects

773‐May


Partnership Projects Current Event #16

786‐May


797‐May


808‐May


819‐May


International Sales ProjectsFBLA Acct Practice Test

(used as posttest for course)

8210‐May BCS‐PAII‐all International Sales Projects Current Event #17

83 13‐May BCS‐PAII‐all Simulation & LTP Wrapup84 14‐May BCS‐PAII‐all Simulation & LTP Wrapup85 15‐May BCS‐PAII‐all Simulation & LTP Wrapup86 16‐May BCS‐PAII‐all Simulation & LTP Wrapup87 17‐May BCS‐PAII‐all Simulation & LTP Wrapup Current Event #1888 20‐May BCS‐PAII‐all REVIEW FOR FINAL89 21‐May BCS‐PAII‐all REVIEW FOR FINAL

FINALSFINALS

Class Projects

Project Based Instruction Spring 2013

Course – Accounting II

Project

What the students should

learn…

What the students should

have done….

GPS

#1-Worksheet for a Merchandising Business

How to complete a worksheet for a merchandising business.

A worksheet for Carol’s Closet. BCS-PAII-1. Students will apply the various steps of the accounting cycle for corporations and partnerships and explain the purpose of each step.

#2-Financial Statements for a Merchandising Business

How to complete and analyze financial statements for a merchandising business.

Financial statements for Osborn Corporation.

BCS-PAII-6. Students will create, interpret, and analyze end-of-fiscal-period activities and financial statements.

#3-Purchasing, Depreciating, and Disposing of Plant Assets

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 double-declining 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

Points

Earned

Trial Balance 26

Adjustments A-H 32

Extending Amounts 26

Net Income/Loss 16

Project Totals 100

Grade

Student Work

#1

Income Statement

For Year Ended December 31, 2012

% OF NET(Working 1) (Working 2) (Almost Done) (Totals) SALES

Revenue:

Sales $704,809.54

Less: Sales Discount $615.25

Sales Returns and Allowances $4,789.84 $5,405.09

Net Sales $699,404.45 100.0%

Cost of Merchandise Sold:

Merchandise Inventory, Jan 1, 2012 $228,189.80

Purchases $369,485.04

Less: Purchases Discount $3,058.89

Purchases Returns and Allowances $4,800.85 $7,859.74

Net Purchases $361,625.30

Total Cost of Merch. Available for Sale $589,815.10

Less Mdse. Inventory, Dec. 31, 2012 $219,765.80

Cost of Merchandise Sold: $370,049.30 52.9%

Gross Profit on Sales $329,355.15 47.1%

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 $243,204.59 34.8%

Net Income before Federal Income Tax $86,150.56 12.3%

Less Federal Income Tax Expense $17,541.19 2.5%

Net Income after Federal Income Tax $68,609.37 9.8%

Osborn Corporation

Analyzing an Income Statement

Yes No

Total Expenses No more than 30.0% 34.80% x cut down expenses

Net income before federal

income tax No less than 15.0% 12.30% x reducing expenses or increasing expense

Earnings Per Share

Net Income after Federal

Income Tax÷ ₌ Earnings Per Share

$68,609.37÷ ₌

$8.58

Price-Earnings Ratio

Market Price Per Share ÷ ₌ Price-Earnings Ratio

$104.50÷ ₌

12.1

Component Acceptable Percentage

Actual

Percentage Recommended Action if Needed

Acceptable Result

Number of Shares

Outstanding

$8,000.00

$8.58

Earnings Per Share

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 $187,500.00

Issued during current Year, 10,000 Shares $12,500.00

Balance, Dec 31, 2012, 110,000 Shares Issued $200,000.00

Retained Earnings:

Balance, January 1, 2012 $19,735.06

Net Income after Federal Income Tax for 2012 $68,609.37

Less Dividends declared during 2012 $30,000.00

Net Increase during 2012 $38,609.37

Balance, December 31, 2012 $58,344.43

Total Stockholders' Equity, December 31, 2012 $258,344.43

Interstate Tires, Inc.

Balance Sheet

31-Dec-12

Assets

Current Assets:

Cash $15,218.25

Petty Cash $250.00

Accounts Receivable $22,485.28

Less Allowance for Uncollectible Accounts $2,772.05 $19,713.23

Merchandise inventory $219,765.80

Supplies - Office $409.15

Supplies - Store $776.39

Prepaid Insurance $800.00

Total Current Assets $256,932.82

Plant Assets:

Office Equipment $22,183.08

Less Acc. Depr. - Office Equipment $13,063.00 $9,120.08

Store Equipment $45,184.98

Less Acc. Depr. - Store Equipment $16,140.00 $29,044.98

Total Plant Assets $38,165.06

Total Assets $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 $2,487.00

Unemployment Tax Payable - Federal $24.00

Unemployment Tax Payable - State $162.00

Health Insurance Premiums Payable $800.00

US Savings Bonds Payable $60.00

U\nited Way Donations Payable $70.00

Dividends Payable $7,500.00

Total Liabilities $36,753.45

Stockholders' Equity

Capital Stock $200,000.00

Retained Earnings $58,344.43

Total Stockholders' Equity $258,344.43

Total Liabilities and Stockholders' Equity $295,097.88

Comes from

Statement of

Stockholder's Equity

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 Points Possible

Points Earned

Income Statement 35 Statement of SE 20 Balance Sheet 35 Analysis 10

Project Totals 100 Grade

Student Work

#2

APPLICATION PROBLEM 14-7 Name:

Class:

You have successfully completed this problem.

1 2 3 4 5 6 7 8

DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT

1 Cash 28,548.25 28,548.25 1

2 Petty Cash 500.00 500.00 2

3 Accounts Receivable 32,518.28 32,518.28 3

4 Allow. for Uncoll. Accts. 155.25 (d) 5,498.40 5,653.65 4

5 Merchandise Inventory 229,282.36 (c) 9,548.25 238,830.61 5

6 Supplies--Office 6,128.25 (a) 4,721.25 1,407.00 6

7 Supplies--Store 4,218.36 (b) 3,648.25 570.11 7

8 Prepaid Insurance 12,000.00 (e) 10,000.00 2,000.00 8

9 Office Equipment 28,187.25 28,187.25 9

10 Acc. Depr.--Office Equipment 5,158.25 (f) 5,216.00 10,374.25 10

11 Store Equipment 42,841.05 42,841.05 11

12 Acc. Depr.--Store Equipment 12,483.25 (g) 4,820.00 17,303.25 12

13 Accounts Payable 21,543.20 21,543.20 13

14 Federal Income Tax Payable (h) 3,005.22 3,005.22 14

15 Employee Income Tax Payable 1,248.25 1,248.25 15

16 Social Security Tax Payable 822.00 822.00 16

17 Medicare Tax Payable 192.24 192.24 17

18 Sales Tax Payable 2,415.25 2,415.25 18

19 Unemployment Tax Payable--Federal 33.60 33.60 19

20 Unemployment Tax Payable--State 226.80 226.80 20

21 Health Insurance Premiums Payable 960.00 960.00 21

22 U.S. Savings Bonds Payable 75.00 75.00 22

23 United Way Donations Payable 100.00 100.00 23

24 Dividends Payable 11,000.00 11,000.00 24

25 Capital Stock 55,000.00 55,000.00 25

26 Retained Earnings 172,980.13 172,980.13 26

27 Dividends 44,000.00 44,000.00 27

28 Income Summary (c) 9,548.25 9,548.25 28

29 Sales 948,484.25 948,484.25 29

30 Sales Discount 3,154.15 3,154.15 30

31 Sales Returns and Allowances 7,148.15 7,148.15 31

32 Purchases 489,335.54 489,335.54 32

33 Purchases Discount 5,015.25 5,015.25 33

34 Purch. Returns and Allowances 7,058.05 7,058.05 34

35 Advertising Expense 16,025.00 16,025.00 35

36 Credit Card Fee Expense 7,015.95 7,015.95 36

37 Depr. Exp.--Office Equipment (f) 5,216.00 5,216.00 37

38 Depr. Exp.--Store Equipment (g) 4,820.00 4,820.00 38

39 Insurance Expense (e) 10,000.00 10,000.00 39

40 Miscellaneous Expense 5,105.25 5,105.25 40

41 Payroll Taxes Expense 18,152.25 18,152.25 41

42 Rent Expense 28,000.00 28,000.00 42

43 Salary Expense 193,971.80 193,971.80 43

44 Supplies Expense--Office (a) 4,721.25 4,721.25 44

45 Supplies Expense--Store (b) 3,648.25 3,648.25 45

46 Uncollectible Accounts Expense (d) 5,498.40 5,498.40 46

47 Utilities Expense 4,818.88 4,818.88 47

48 Federal Income Tax Expense 44,000.00 (h) 3,005.22 47,005.22 48

49 1,244,950.77 1,244,950.77 46,457.37 46,457.37 853,636.09 970,105.80 419,402.55 302,932.84 49

50 Net Income after Federal Income Tax 116,469.71 116,469.71 50

51 970,105.80 970,105.80 419,402.55 419,402.55 51

BALANCE SHEET

Carol's Closet

Work Sheet

For Year Ended December 31, 20--

ACCOUNT TITLEINCOME STATEMENTADJUSTMENTSTRIAL BALANCE

DEBIT CREDIT

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 Notes Points Possible

Points Earned

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.

Double-declining method

30

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.

Straight-line method

30

Cash Payments Journal a. Calculate the purchase of both plant assets. b. Calculate the payment of propery taxes.

10

Cash Receipts Journal a. Record the sale of Plant Asset #1 b. Record the sale of Plant Asset #2

20

General Journal a. Record the partial year’s accumulated

depreciation for Plant Asset #1.

10

Daily Totals 100 Grade

Student Work

#3

PLANT ASSET RECORD No. 892 1205

Description Gen. Led. Acct.

Date

BoughtJan. 5 20X1Serial No.

903452 Original Cost

Estimated

Useful Life5 Years

Estimated

Salvage

Value $200.00

Depreciation

Method

Disposed of: Discarded Sold P Traded

Date Disposal Amount

Year

20X1

20X2

20X3

20X4

PLANT ASSET RECORD No. 893 1215

Description Gen. Led. Acct.

Date

Bought5-Apr Serial No.

BE35CC Original Cost

Estimated

Useful Life6 Years

Estimated

Salvage

Value $100.00

Depreciation

Method

Disposed of: Discarded Sold P Traded

Date Disposal Amount

Year

20X1

20X2

20X3

20X4

20X5

Dining Table

Double Decline

$2,200.00

General Ledger Acct. No.

Room Furnishings

300

Beginning Book Value Annual Depr. Expense Acc. Depr.

$2,200.00 40.00% $880.00

$475.20

6-Jan

2-Jul 200

$528.00

$316.80

$190.08

40.00%

40.00%

40.00%

$1,320.00

$792.00

General Ledger Acct. No.

Air Purifier Equipment

$1,300.00

Striaght Line

Beginning Book Value Annual Depr. Expense Acc. Depreciation

$1,300.00 $150.00 $150.00

$1,150.00 $200.00 $350.00

$950.00 $200.00 $550.00

$750.00 $200.00 $750.00

$550.00 $100.00 $850.00

$1,150.00

$950.00

$750.00

$550.00

$450.00

Ending Book Value

Ending Book Value

$1,320.00

$792.00

$475.20

$285.12

CASH RECEIPTS JOURNAL PAGE 21 2 3 4 6 7 8

ACCOUNTS SALES TAX SALES

DOC. POST. GENERAL RECEIVABLE SALES PAYABLE DISCOUNT CASH

DATE ACCOUNT TITLE NO. REF. DEBIT CREDIT CREDIT CREDIT CREDIT DEBIT DEBIT

2012

1 Jan 6 Accum. Depr. - Room Furnishings R4 $1,724.80 $300.00 1

2 Room Furnishings $2,200.00 2

3 Gain on Plant Assets $175.20 3

4 July 2 Accum. Depr. - Equipment R77 $550.00 $200.00 4

5 Loss on Plan Assets $250.00 5

6 Equipment $450.00 6

GENERAL JOURNAL PAGE 181 2

DOC. POST. GENERAL

DATE ACCOUNT TITLE NO. REF. DEBIT CREDIT

2012

1 July 2 Depreciation Expense - Equipment M31 $200.00 1

2 Accumulated Depreciation - Equipment $200.00 2

3 Adjusting Entries 3

4 Dec. 31 Depreciation Expense - Room Furnishings $38,520.00 4

5 Accumulated Depreciation - Room Furnishings $38,520.00 5

CASH PAYMENTS JOURNAL PAGE 231 2 3 4 5

ACCOUNTS PURCHASES

CK. POST. GENERAL PAYABLE DISCOUNT CASH

DATE ACCOUNT TITLE NO. REF. DEBIT CREDIT DEBIT CREDIT CREDIT

2012

1 Jan 5 Room Furnishings 435 $2,200.00 $2,200.00 1

2 Feb 26 Property Tax Expense 534 $12,800.00 $12,800.00 2

3 Apr 5 Equipment 577 $1,300.00 $1,300.00 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 # 1 2 3 4 5

Members Larsen, Shahina, William, Jasmine P.

Chelsey, Alexandra, Adre’ona, Ariel

Sydney, Delaney, Ryan, Astin

Jadzia, Jessica, Dorothy, Drella

DeAsia, Kourtnei, Jasmine A., Steve

Phase One Tasks Sort source documents Purchases journal Post A/P ledger

Sales Journal Post Cash Payments Journal

General Journal Post Cash Receipts & General Journal

Cash Payments Journal Writing Checks Post Purchases & Sales Journals

Cash Receipts Journal Post A/R ledger

Phase Two Tasks Payroll register Employee Earnings Records Post Adjusting Entries

Worksheet Adjusting Entries

Balance Sheet State. Of Stock Eq. Post Closing Entries

Income Statement Post Close. Trial Bal.

Closing Entries Recon. Of Bank State. Schedule of A/P & A/R

Phase Three Tasks

All Students Individually – Analyze Financial Statements

Zenith Global Imports

Post-Closing Trial Balance

31-Dec-13

Debit Credit

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

Long-term Project

Student Work

Customer Luis T. Arroyo Customer No. 110

POST.

DATE ITEM REF. DEBIT CREDIT DEBIT

Dec. 1 Balance $2,973.23

3 S12 $511.07 $3,484.30

12 CR23 $2,973.23 $511.07

22 CR23 $511.07 $0.00

Customer Baymont Design Firm Customer No. 115

POST.



2 CR23 $9,439.09

8 S12 $2,128.00 $2,128.00

17 CR23 $2,128.00

24 S12 $2,482.99 $2,482.99

Customer Alesha Edgar Customer No. 120

ITEM POST.

DATE REF. DEBIT CREDIT DEBIT

Dec. 1 Balance $266.40

9 CR23 $266.40

17 S12 $1,078.30 $1,078.30

Customer Grandview Conference Center Customer No. 125

POST.


Dec. 1 $5,874.75

5 Balance CR23 $5,874.75

23 S12 $2,475.61 $2,475.61

Customer Huntington Corp Customer No. 130

POST.



12 CR23 $1,313.50

16 S12 $3,107.07 $3,107.07

Customer Eric Kim Customer No. 135

POST.



15 S12 $351.79 $578.54

Customer Leon Morales Customer No. 140

POST.



1 S12 $2,292.72 $2,679.72

17 CR23 $387.00 $2,292.72

29 S12 $218.49 $2,511.21

Customer Midori Okano Customer No. 145

POST.



2 CR23 $269.20 $0.00

5 S12 $1,673.27 $1,673.27

27 G17 $137.66 $1,535.61

29 CR23 $1,535.61 $0.00

Customer Elena Ramos Customer No. 150

POST.



9 S12 $313.55 $513.60

13 CR23 $200.05 $313.55

26 CR23 $313.55 $0.00

Customer Seiro Hospitality Center Customer No. 155

POST.



13 S12 $4,443.20 $4,906.56

19 CR23 $463.36 $4,443.20

23 CR23 $4,443.20 $0.00

Customer Mei-Yu Sun Customer No. 160

POST.



6 CR23 $323.82 $0.00

14 S12 $428.26 $428.26

Customer Amy Zellner Customer No. 165

POST.



1 S12 $1,147.13 $2,311.80

16 CR23 $1,164.67 $1,147.13

23 S12 $442.24 $1,589.37

Current Event

Activity

Current Events 20122013

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




Article #3




http://www.money.cnn.com/

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 80-

100 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.

http://www.money.cnn.com/

FBLA Activity

Strengths

Weakness

Ridge Writing (100 Words or more)

How can you overcome your weakness?

FBLA Work

Jadzia H.

Strengths

Weakness

Caring

Understanding

Creative

Tough

Cooperative

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 2012-2013

Class Project

Accounting II Introductions Presentations

Accounting II Long-Term Project Business Plans (later changed LTP)

Accounting II Updated LTP tasks

career

development

Teacher Class Assignment Date Little Business Essentials Career Portfolio Spring Business Essentials Guest Speaker Spring Business Essentials Mock Interview Spring Accounting I Guest Speaker Fall Accounting II Career Portfolio Spring Accounting II Guest Speaker Spring Accounting II Mock Interview Spring

Little - Accounting II - 3/22

Documents

accounting cycle week

accounting work

accounting skills

accounting course title

business essentials

course schedule week

financial statements

special topics week