Lesson Plan 8.2 - Preparing for the Fiscal Period
Course Title – Accounting I
Session Title – Preparing for the Fiscal Period
Lesson Purpose – Demonstrate skill in setting up the chart of accounts.
Behavioral Objectives


Create a chart of accounts for a merchandising business formed as a
corporation.
Enter the chart of accounts using accounting software.
Preparation
OLD TEKS Correlations:
2010 TEKS Correlations:
This lesson, as published, correlates
to the following TEKS. Any
changes/alterations to the activities
may result in the elimination of any or
all of the TEKS listed.
120.42.C
7.a. follow oral and written
instructions;
7.b. develop time management skills
by setting priorities for completing
work as scheduled.
7.c. make decisions using
appropriate accounting concepts;
7.e. perform accounting procedures
using manual and automated
methods;
7.g. demonstrate use of the numeric
keypad by touch
This lesson, as published, correlates
to the following TEKS. Any
changes/alterations to the activities
may result in the elimination of any or
all of the TEKS listed.
130.166.C
5. – The student performs accounting
functions specific for a merchandising
business. The student is expected to
explain the nature of special journals
and recording transactions in special
journals.
TAKS Correlation:
MATH
Objective 10: The student will demonstrate an understanding of the
mathematical processes and tools used in problem solving.
Materials, Equipment and Resources:

Textbook
Teaching Strategies:

Observation
Lesson 8.2 – Preparing for the Fiscal Period
Copyright © Texas Education Agency, 2011. All rights reserved.
ACCOUNTING 1
Lesson Content:
Students work independently setting up a chart of accounts for The Kewl
Shoppe, Inc. using accounting software.
Assessment:


Observation
Graded Assignment
Additional Resources:
Textbooks:
Guerrieri, Donald J., Haber, Hoyt, Turner. Glencoe Accounting RealWorld Applications and Connections. Glencoe McGraw-Hill, 2000.
ISBN/ISSN 0-02-815004-X.
Ross, Kenton, Gilbertson, Lehman, and Hanson. Century 21 Accounting
Multicolumn Journal Anniversary Edition, 1st Year Course. SouthWestern Educational and Professional Publishing, 2003.
ISBN/ISSN: 0-538-43524-0
Ross, Kenton, Gilbertson, Lehman, and Hanson. Century 21 General
Journal Accounting Anniversary Edition, 7th Edition. SouthWestern Educational and Professional Publishing, 2003.
ISBN/ISSN: 0-538-43529-1.
Lesson 8.2 – Preparing for the Fiscal Period
Copyright © Texas Education Agency, 2011. All rights reserved.
ACCOUNTING 1
Activity 8.2.1 – Setting Up the Chart of Accounts
Course Title – Accounting I
Session Title – Preparing for the Fiscal Period
Activity Purpose - Demonstrate skill in entering a chart of accounts in accounting
software.
OLD TEKS Correlations:
2010 TEKS Correlations:
This lesson, as published, correlates to
the following TEKS. Any
changes/alterations to the activities may
result in the elimination of any or all of
the TEKS listed.
120.42.C
7.a. follow oral and written instructions;
7.b. develop time management skills by
setting priorities for completing work as
scheduled;
7.c. make decisions using appropriate
accounting concepts;
7.e. perform accounting procedures
using manual and automated methods;
7.g. demonstrate use of the numeric
keypad by touch
This lesson, as published, correlates to
the following TEKS. Any
changes/alterations to the activities may
result in the elimination of any or all of
the TEKS listed.
130.166.C
3.d. – prepare a chart of accounts
TAKS Correlation:
N/A
Materials, Equipment and Resources:


Textbook
Accounting Software
Teaching Strategies:

Observation
Activity Outline:
1. Have your students use the procedures for their accounting software to
create a file for The Kewl Shoppe, Inc.
2. Ask your students to enter a chart of accounts using these accounts. The
students need to sort them in correct order and number the accounts.
Activity 8.2.1 – Setting Up the Chart of Accounts
Copyright © Texas Education Agency, 2011. All rights reserved.
ACCOUNTING 1
Utilities Expense
Notes Payable
Interest Receivable
Health Ins. Prem. Payable
Purchases Returns and Allow.
Office Equipment
Emp. Income Tax Payable
Cash Short and Over
Retained Earnings
Depreciation Expense—Ofc. Equip.
Federal Income Tax Expense
Cash
Sales Returns and Allowances
Miscellaneous Expense
Prepaid Insurance
Accum. Depr.—Delivery Truck
Salary Expense
Sales Tax Payable
Delivery Truck Expense
Interest Payable
Accounts Receivable
Dividends Payable
Advertising Expense
Accum. Depr.—Ofc. Equip.
Fed. Income Tax Pay.
Interest Income
Dividends
Depr. Exp.—Delivery Truck
Loss on Plant Assets
Petty Cash
Purchases
Payroll Taxes Expense
Sales
Merchandise Inventory
Supplies Expense
Unemp. Tax Pay—Fed.
Accounts Payable
Allow. for Uncol. Accounts
Capital Stock
Credit Card Fee Expense
Delivery Truck
FICA Tax Payable
Gain on Plant Assets
Income Summary
Insurance Expense
Interest Expense
Notes Receivable
Purchases Discount
Rent Expense
Sales Discount
Supplies
Uncollectible Accts. Expense
Unemp. Tax Pay.—State
Assessment:


Observation
Graded Assignment
Quality Feature
Score
No accounts omitted
Accounts in correct order
Accounts numbered appropriately
Accounts entered accurately using the accounting software
Completes in a timely manner
Activity 8.2.1 – Setting Up the Chart of Accounts
Copyright © Texas Education Agency, 2011. All rights reserved.
ACCOUNTING 1
Activity 8.2.2 – Setting Up the Subsidiary Ledger Accounts
Course Title – Accounting I
Session Title – Preparing for the Fiscal Period
Activity Purpose - Demonstrate skill in entering accounts receivable and accounts
payable ledger accounts.
OLD TEKS Correlations:
2010 TEKS Correlations:
This lesson, as published, correlates to
the following TEKS. Any
changes/alterations to the activities may
result in the elimination of any or all of
the TEKS listed.
120.42.C
7.a. follow oral and written instructions;
7.b. develop time management skills by
setting priorities for completing work as
scheduled;
7.c. make decisions using appropriate
accounting concepts;
7.e. perform accounting procedures
using manual and automated methods;
7.g. demonstrate use of the numeric
keypad by touch
This lesson, as published, correlates to
the following TEKS. Any
changes/alterations to the activities may
result in the elimination of any or all of
the TEKS listed.
130.166.C
3.d. – prepare a chart of accounts
TAKS Correlation:
N/A
Materials, Equipment and Resources:


Textbook
Accounting Software
Teaching Strategies:

Observation
Activity 8.2.2 – Setting Up the Subsidiary Ledger AccountsCopyright © Texas Education Agency, 2011. All rights reserved.
ACCOUNTING 1
Activity Outline:
Enter these accounts:
Accounts Receivable Ledger
110 ANG
Abbey Angel
120 BAB
Bridget Babbs
130 DUR
Jon Durant
140 SAM
Sam Samson
150 GER
Gertrude Gertrudis
Accounts Payable Ledger
205 GAS
Gas It-Up, Inc.
210 ICE
Ice Cream
220 TOM
Tom’s Wholesale
230 URI
UR Ice Cream
240 VAL
Val’s Wholesale, Inc.
250 WAY Wyatt’s Creamery
260 WAL
Walls National Bank
270 YOU
Your Favorite Place
280 XYZ
XYZ Office Supply
Assessment:


Observation
Graded Assignment
Quality Feature
Accounts entered with no typing errors
No account omitted
Numbers on the accounts accurate
Completes in a timely manner
Score
Activity 8.2.2 – Setting Up the Subsidiary Ledger AccountsCopyright © Texas Education Agency, 2011. All rights reserved.
ACCOUNTING 1