PRINCIPLES OF ACCOUNTING I
ACCT 201
Fall 2011
M/T/W/Th/F
10:30-11:20
5 Credits
INSTRUCTOR
Linda Lane
Office Number –124
Office Phone Number—758-1724
Office Hours—11:30-12:20 M/T/W/TH/F
E-mail Address—linda.lane@wwcc.edu
CATALOG DESCRIPTION
Addresses the fundamentals of accounting theory and practice including: student
of the accounting cycle, use of special journals, and use of accounting in
management decisions.
TEXTBOOK
Financial Accounting, Edition 23e, by Warren, Reeve, and Duchac
Other Required Items: Jump drive, notebook to keep track of graded assignments,
note cards for instructions, mechanical pencil, click eraser, and ruler
COURSE OBJECTIVES
1. Analyze the affect of business transactions on the accounting equation.
2. Prepare financial statements for a service enterprise and merchandising
enterprise.
3. Record entries into a double-entry accounting system.
4. Analyze and record adjusting and closing entries.
5. Prepare a bank reconciliation
6. Calculate and record interest on notes.
7. Determine the cost of inventory using FIFO, LIFO, Average Cost, Retail,
and Gross Project methods.
CLASSROOM RULES
1. CHECK YOUR CELL PHONE AT THE DOOR. If your phone rings,
you will not receive credit for that day’s work. No leaving the classroom
to answer the phone; if you do so, you will not be allowed back in the
class.
2. No texting in class—this will be ground for expulsion from the class.
3. Please contact Carol Bennett in Student Services if you have a learning
disability and need additional assistance.
4. Cheating will not be tolerated and will be grounds for failing the class or
expulsion from the class.
METHODS OF INSTRUCTION
1. Lecture—Instructor will lecture on the key points of each chapter.
2. Demonstration—Instructor will demonstrate the key points of each
chapter.
3. Class Assignments—Students will work in class on the exercises and
assigned problems. Instructor will be available to answer questions.
METHODS OF EVALUATION
1. Problems—Problems will be assigned for each chapter. These problems
will be worth thirty percent (20%) of the student’s final grade. No late
work will be accepted. I will throw out your two lowest scores on
these problems.
2. Continuing Problem—Students will complete the continuing problems.
These continuing problem will be graded on a percentage basis and will be
worth twenty percent (20%) of your final grade. No late work will be
accepted.
3. Simulation Projects—You will complete two simulation projects. These
projects will be graded on a percentage basis and will be worth thirty
percent (30%) of your final grade. No late work will be accepted.
4. Computerized Exercises—Students will complete computerized
exercises as assigned. These computerized exercises will be graded on a
percentage basis and will be worth ten percent (20%) of your final grade.
No late work will be accepted.
5. Final Exam—You will have a comprehensive final exam covering all the
information in the text. This exam will be worth ten percent (10%) of
your final grade. The final exam will be held on Thursday, December 8,
from 10:30-12:30.
GRADING
94-100
90-93
87-89
84-86
80-83
77-79
74-76
70-73
67-69
60-67
Below 60
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A
AB+
B
BC+
C
CD+
D
F
TENTATIVE COURSE OUTLINE
9/19
Introduction
Discuss Syllabi
Read Chapter 1
9/210 Discuss Chapter 1
Complete Problem 1-1A
Complete Problem 1-2A
Complete Problem 1-1B—Graded
Complete Problem 1-2B—Graded
9/21
Complete Problem 1-3A
Complete Problem 1-3B—Graded
9/22
Complete Problem 1-4A
Complete Problem 1-5A
Complete Problem 1-4B—Graded
9/23
Complete Problem 1-6A
Complete Problem 1-6B—Graded
9/26
Begin Working on Continuing Problem
9/27
Complete Continuing Problem—Graded
Read Chapter 2
9/28
Discuss Chapter 2
Complete Problem 2-1B
Complete Problem 2-1A—Graded
9/29
Complete Problem 2-2A
Complete Problem 2-2B—Graded
9/30
Complete Problem 2-3A
Complete Problem 2-3B—Graded
10/3
Complete Problem 2-6A
Complete Problem 2-6B—Graded
10/4
Work on Continuing Problem
10/5
Complete Continuing Problem—Graded
Read Chapter 3
10/6
Discuss Chapter 3
Complete Problem 3-1A
Complete Problem 3-2A
Complete Problem 3-2B—Graded
10/7
Complete Problem 3-3A
Complete Problem 3-4A
Complete Problem 3-4B—Graded
10/10 Complete Problem 3-5A
Complete Problem 3-6A
Complete Problem 3-5B—Graded
Complete Problem 3-6B--Graded
10/11 Work on Continuing Problem
10/12 Complete Continuing Problem—Graded
Read Chapter 4
10/13 Discuss Chapter 4
Complete Problem 4-1A
Complete Problem 4-2A
Complete Problem 4-1B—Graded
10/14 Complete Problem 4-3A
Complete Problem 4-3B—Graded
10/17 Complete Problem 4-4B
Complete Problem 4-4A—Graded
10/18 Complete Problem 4-5A
Complete Problem 4-5B—Graded
10/19 Complete Problem 4-6A
Complete Problem 4-6B—Graded
10/20 Work on Continuing Problem
10/21 Complete Continuing Problem—Graded
10/24 Start Comprehensive Problem 1
10/25 Complete Comprehensive Problem 1
10/26 Start Leaping Lizards Lawn Care
10/27 Work on Leaping Lizards Lawn Care
10/28 Work on Leaping Lizards Lawn Care
10/31 Work on Leaping Lizards Lawn Care
11/1
Complete Leaping Lizards Lawn Care—Graded
Read Chapter 5
11/2
Discuss Chapter 5
Complete Problem 5-1A
Complete Problem 5-2A
Complete Problem 5-2B—Graded
11/3
Complete Problem 5-3A
Complete Problem 5-4A
Complete Problem 5-4B—Graded
11/4
Complete Problem 5-5B
Complete Problem 5-5A—Graded
Read Chapter 6
11/7
Discuss Chapter 6
Complete Problem 6-1A
Complete Problem 6-2A
Complete Problem 6-2B—Graded
11/8
Complete Problem 6-3A
Complete Problem 6-4A
Complete Problem 6-4B—Graded
11/9- Complete Problem 6-5A
Complete Problem 6-6A
Complete Problem 6-5B—Graded
Complete Problem 6-6B—Graded
11/10 Start Comprehensive Problem 2
11/11 HOLIDAY
11/14 Work on Comprehensive Problem 2
11/15 Work on Comprehensive Problem 2
11/16 ADVISING DAY—NO CLASS
11/17 Complete Comprehensive Problem 2—Graded
11/18 Begin work on Fitness City Merchandise Practice Set
11/21-25
THANKSGIVING BREAK
11/28 Work on Fitness City Merchandise
11/29 Work on Fitness City Merchandise
11/30 Work on Fitness City Merchandise
12/1
Work on Fitness City Merchandise
12/2
Fitness City Merchandise Practice Set Due
12/5
Review for Final Exam
12/8
Final Exam from 10:30-12:30