Monday, April 9, 2012
Essential
Question:
What is the accounting procedure for a merchandising business
organized as a corporation?
Key
Questions:
Can you record and post transactions for a merchandising business
organized as a corporation? Can you verify the accuracy of your
postings using a schedule of AR & AP?
DO NOW:
Keytrain.com – 1st 15 minutes
First Part of Period: Go over test.
Second Part of Period: Begin Reinforcement Activity 2-A on p. 398401. Save the Excel workbook from the Useful Links page of my
wiki to complete this Reinforcement. You may use your working
papers, but you must transfer all work to the Excel Workbook for
grading purposes.
Instructional
Strategies
and
Activities:





After opening the file, be sure to do a "save as..."
Record the transactions, ignore posting instructions
After recording the last transaction on December 31, Print
and turn in:
o a trial balance
o schedule of accts receivable
o schedule of accounts payable
Instructor will check for accurate account balances. If any
errors are found, instructor will give printouts back and you
will have the opportunity to find and fix your errors.
If no errors are found in account balances, instructor will let
you know and you can then print your file for grading.
Summarizing
What did you get accomplished on RA?
Strategy:
Assessment:
Workbook activities, written test
Resources:
Workbook, Automated Accounting
GPS:
BCS-PAI-4, 5, 6, 7, 8, 10
Tuesday, April 10, 2012
Essential
Question:
What is the accounting procedure for a merchandising business
organized as a corporation?
Key
Questions:
How do you analyze payroll transactions and record a payroll? How
do you record employer payroll taxes? How do you prepare payroll
tax reports? How do you pay and record withholding and payroll
taxes?
Activating
Strategy:
Keytrain – 1st 15 minutes
Continue Reinforcement Activity 2-A on p. 398-401.



Instructional
Strategies
and
Activities:


After opening the file, be sure to do a "save as..."
Record the transactions, ignore posting instructions
After recording the last transaction on December 31, Print
and turn in:
o a trial balance
o schedule of accts receivable
o schedule of accounts payable
Instructor will check for accurate account balances. If any
errors are found, instructor will give printouts back and you
will have the opportunity to find and fix your errors.
If no errors are found in account balances, instructor will let
you know and you can then print your file for grading.
Summarizing
Make sure you turn in your test to the tray and the V drive.
Strategy:
Assessment:
Workbook activities, written test
Resources:
Workbook, Excel
GPS:
BCS-PAI-10. Students will apply Generally Accepted Accounting
Principles (GAAP) to various forms of ownership and payroll.
b. Prepare and maintain payroll records using manual and
computerized systems.
c. Calculate earnings at an hourly and piece rate and on a salary,
commission, and salary/commission basis.
d. Compute employee gross earnings, deductions, and withholdings
to determine net pay.
e. Calculate employer’s payroll taxes including Social Security,
Medicare, federal unemployment, state unemployment, other taxes,
and other employee benefits paid by the employer.
f. Prepare federal, state, and local payroll reports.
Wednesday, April 11, 2012
Essential
Question:
What is the accounting procedure for a merchandising business
organized as a corporation?
Key
Questions:
What are dividends? How do you declare a dividend? How do you
pay dividends to stock holders? How do you prepare a worksheet
for a corporation? What adjustments are made? How do you
calculate federal income tax?
DO NOW:
Preview terms on p. 402
Discuss Chapter 14: Distributing Dividends and Preparing a Work
Sheet for a Merchandising Business
Section 14-1: Distributing Corporate Earnings to Stockholders




What is "retained earnings" and what are "dividends"?
Who can "declare a dividend"?
What is the transaction to record declaring a dividend?
What is the transaction to pay a declared dividend?
Do work together and on your own p. 408
Section 14-2: Beginning an 8-Column Work Sheet for a
Merchandising Business
Instructional
Strategies
and
Activities:


Prepare the Trial Balance Section
Plan Adjustments
o Supplies (Office and Store) Adjustments
o Prepaid Insurance Adjustment
Do work together and on your own p. 414
Section 14-3: Planning and Recording a Merchandise Inventory
Adjustment


What is Merchandise Inventory?
Merchandise Inventory Adjustment
o Inventory is less at end
o Inventory is greater at end
Do work together and on your own p. 418
Section 14-4: Planning and Recording an Uncollectible Accounts
Adjustment



What is uncollectible accounts?
Estimating uncollectible accounts
Uncollectible Accounts Adjustment
Do work together and on your own p. 422
Section 14-5: Planning and Recording Depreciation Adjustments




What are current assets vs plant assets?
What is depreciation?
How do you determine depreciation?
Depreciation Expense Adjustment
Do work together and on your own p. 426
Section 14-6: Calculating Federal Income Tax and Completing a
Work Sheet



How do you calculate the amount of federal income tax a
corporation owes?
Federal Income Tax Adjustment
Completing the Work Sheet
Do work together and on your own p. 436
Begin Applications 14-1 through 14-6
Summarizing
Review Key points from today's lesson
Strategy:
Assessment:
Workbook activities, written test
Resources:
Workbook
GPS:
BCS-PAI-4. Students will understand and apply the various steps
of the accounting cycle for proprietorships and corporations and
explain the purpose of each step.
e. Analyze the effects of revenue, expense, and drawing accounts
on owner’s equity.
g. Analyze business transactions and their effect on the accounting
equation.
h. Apply the double-entry system of accounting to record business
transactions and prepare a trial balance.
i. Prepare and use an 8- and/or 10-column worksheet.
j. Explain the need for adjusting entries and record adjusting
entries.
BCS-PAI-5. Students will use Generally Accepted Accounting
Principles (GAAP) to determine the value of assets.
e. Create and maintain the accounts receivable subsidiary ledger
and account for credit card sales and apply appropriate accounting
techniques for uncollectible accounts.
h. Calculate depreciation and apply appropriate accounting
concepts and techniques for acquisition, depreciation, and disposal
of property, plant, and equipment.
BCS-PAI-7. Students will use Generally Accepted Accounting
Principles (GAAP) to determine the value of owners’ equity.
b. Explain the purpose of the following capital accounts for a
corporation: common stock, preferred stock, paid-in capital,
retained earnings, and dividends.
c. Analyze and record investments by stockholders and the
declaration and payment of dividends for a corporation.
d. Differentiate between stockholders’ equity and retained
earnings.
e. Use manual and computerized accounting systems for
stockholders’ equity.
Thursday, April 12, 2012
Essential
Question:
What is the accounting procedure for a merchandising business
organized as a corporation?
Key
Questions:
What are dividends? How do you declare a dividend? How do you
pay dividends to stock holders? How do you prepare a worksheet
for a corporation? What adjustments are made? How do you
calculate federal income tax?
DO NOW!
Get your materials from yesterday and open your books to chapter
14.
Continue with discussion on Chapter 14: Distributing Dividends and
Preparing a Work Sheet for a Merchandising Business
Section 14-4: Planning and Recording an Uncollectible Accounts
Adjustment



What is uncollectible accounts?
Estimating uncollectible accounts
Uncollectible Accounts Adjustment
Do work together and on your own p. 422
Section 14-5: Planning and Recording Depreciation Adjustments
Instructional
Strategies
and
Activities:




What are current assets vs plant assets?
What is depreciation?
How do you determine depreciation?
Depreciation Expense Adjustment
Do work together and on your own p. 426
Section 14-6: Calculating Federal Income Tax and Completing a
Work Sheet



How do you calculate the amount of federal income tax a
corporation owes?
Federal Income Tax Adjustment
Completing the Work Sheet
Do work together and on your own p. 436
Begin Applications 14-1 through 14-6
Summarizing
Review Key points from today's lesson
Strategy:
Assessment:
Workbook activities, written test
Resources:
Workbook
BCS-PAI-4. Students will understand and apply the various steps of
the accounting cycle for proprietorships and corporations and
explain the purpose of each step.
e. Analyze the effects of revenue, expense, and drawing accounts
on owner’s equity.
g. Analyze business transactions and their effect on the accounting
equation.
h. Apply the double-entry system of accounting to record business
transactions and prepare a trial balance.
i. Prepare and use an 8- and/or 10-column worksheet.
j. Explain the need for adjusting entries and record adjusting
entries.
BCS-PAI-5. Students will use Generally Accepted Accounting
Principles (GAAP) to determine the value of assets.
GPS:
e. Create and maintain the accounts receivable subsidiary ledger
and account for credit card sales and apply appropriate accounting
techniques for uncollectible accounts.
h. Calculate depreciation and apply appropriate accounting
concepts and techniques for acquisition, depreciation, and disposal
of property, plant, and equipment.
BCS-PAI-7. Students will use Generally Accepted Accounting
Principles (GAAP) to determine the value of owners’ equity.
b. Explain the purpose of the following capital accounts for a
corporation: common stock, preferred stock, paid-in capital,
retained earnings, and dividends.
c. Analyze and record investments by stockholders and the
declaration and payment of dividends for a corporation.
d. Differentiate between stockholders’ equity and retained earnings.
e. Use manual and computerized accounting systems for
stockholders’ equity.
Friday, April 13, 2012
Essential
Question:
What is the accounting procedure for a merchandising business
organized as a corporation?
Key
Questions:
What are dividends? How do you declare a dividend? How do you
pay dividends to stock holders? How do you prepare a worksheet
for a corporation? What adjustments are made? How do you
calculate federal income tax?
Activating
Strategy:
Begin working on assignments below
Finish Applications 14-1 through 14-6
Instructional
Strategies
Do 14-7 (mastery)
and
Activities:
Do Practice Test
Summarizing
Go over answers together
Strategy:
Assessment:
Workbook activities, written test
Resources:
Workbook
GPS:
BCS-PAI-4. Students will understand and apply the various steps of
the accounting cycle for proprietorships and corporations and
explain the purpose of each step.
e. Analyze the effects of revenue, expense, and drawing accounts
on owner’s equity.
g. Analyze business transactions and their effect on the accounting
equation.
h. Apply the double-entry system of accounting to record business
transactions and prepare a trial balance.
i. Prepare and use an 8- and/or 10-column worksheet.
j. Explain the need for adjusting entries and record adjusting
entries.
BCS-PAI-5. Students will use Generally Accepted Accounting
Principles (GAAP) to determine the value of assets.
e. Create and maintain the accounts receivable subsidiary ledger
and account for credit card sales and apply appropriate accounting
techniques for uncollectible accounts.
h. Calculate depreciation and apply appropriate accounting
concepts and techniques for acquisition, depreciation, and disposal
of property, plant, and equipment.
BCS-PAI-7. Students will use Generally Accepted Accounting
Principles (GAAP) to determine the value of owners’ equity.
b. Explain the purpose of the following capital accounts for a
corporation: common stock, preferred stock, paid-in capital,
retained earnings, and dividends.
c. Analyze and record investments by stockholders and the
declaration and payment of dividends for a corporation.
d. Differentiate between stockholders’ equity and retained earnings.
e. Use manual and computerized accounting systems for
stockholders’ equity.