Sioux Falls Public School District
Accounting I
March 2012
I.
Applied Arts Mission Statement: Provides the opportunity for all
students to actively engage in authentic learning experience, that
incorporate technical, academic, problem-solving, and personal skills
which prepare them to become capable productive citizens able to adapt
to a changing world.
II.
Accounting I Course Description: Introduction to accounting
concepts through sole proprietorship, partnerships, and corporations.
Record business transactions; prepare financial records for small
business; learn business foundations for professional or personal use.
This course articulates to Southeast Technical Institute.
III.
Learning Standards:
Upon completion of the course, the student will be able to:
SOUTH DAKOTA CTE
CONTENT STANDARDS
Quarter 1:
1.1 Define accounting and explain the purpose of the accounting system.
1.2 Define the concept of generally acceptable accounting principles.
1.3 Classify items as assets, liabilities, or owner’s equity.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
1.5 Describe and prepare a variety of source documents.
1.6 Analyze business transactions using source documents and describe the
effect on the accounting equation.
1.7 Explain the double-entry system of accounting and apply debit and credit
rules when analyzing business transactions.
1.9 Explain the purpose of a journal and its relationship to the ledger.
1.10 Explain the purpose of a ledger account and post information from the
journal to the ledger.
1.11 Prepare a trial balance and explain its uses and limitations.
1.12 Analyze the trial balance to determine the necessary adjustments to prepare
financial statements.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
1.16 Demonstrate an understanding of the fundamental accounting equation.
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2.1 Define cash, prepare bank reconciliation, establish and maintain petty cash
and change accounts, identify cash control techniques, explain the benefits
of electronic fund transfers, ATM transactions, and uses of a debit card.
A1.2.1 Compare and contrast various types of business ownership and
accounting principles that apply.
A1.2.2 Prepare and comprehend proper cash management techniques.
A1.3.1 Examine, analyze and categorize financial transactions.
A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
A1.3.3 Post information from journals of all types into general and subsidiary
ledger accounts.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Theme: Accounting for a Service Business Organized as a Proprietorship
Essential Question: What is the accounting cycle and procedure for a
service business organized as a proprietorship?
Chapter 1:
 The Accounting Equation
 Effects of Business Activities on the Accounting Equation
 Effects of Transactions on Owner’s Equity in an Accounting Equation
 Accounting Records, Financial Statements, Service Business,
Proprietorship, Asset, Liabilities, Equities, Owner’s Equity, Ethics,
Business Ethics, Transaction, Account, Account Title, Account Balance,
Capital, Revenue, Sale on Account, Expense, Withdrawals
Chapter 2:
 Using T Accounts
 Analyzing How Transactions Affect Accounts
 Analyzing How Transactions Affect Owner’s Equity Accounts
 Debit, Credit, Normal Balance, Chart of Accounts
Chapter 3:
 Journals, Source Documents, and Recording Entries in a Journal
 Journalizing Buying Insurance, Buying on Account, and Paying on
Account
 Journalizing Transactions that Affect Owner’s Equity and Receiving Cash
on Account
 Proving and Ruling a Journal
 Journal, Journalizing, Special Amount Column, General Amount Column,
Entry, Double-Entry Accounting, Source Document, Check, Invoice, Sales
Invoice, Receipt, memorandum, Proving Cash
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Chapter 4:
 Preparing a Chart of Accounts
 Posting Separate Amounts from a Journal to a General Ledger
 Posting Column Totals from a Journal to a General Ledger
 Completed Accounting Forms and Making Correcting Entries
 Ledger, General Ledger, Account Number, File Maintenance, Opening an
Account, Posting, Correcting Entry
Chapter 5:
 Checking Accounts
 Bank Reconciliation
 Dishonored Checks and Electronic Banking
 Petty Cash
 Code of Conduct, Checking Account, Endorsement, Blank Endorsement,
Special Endorsement, Restrictive Endorsement, Postdated Check, Bank
Statement, Dishonored Check, Electronic Funds Transfer, Debit Card,
Petty Cash, Petty Cash Slip
Chapter 6:
 Creating a Work Sheet
 Planning Adjusting Entries on a Work Sheet
 Extending Financial Statement Information on a Work Sheet
 Finding and Correcting Errors on the Work Sheet
 Fiscal Period, Work Sheet, Trial Balance, Adjustments, Balance Sheet,
Income Statement, Net Income, Net Loss
Chapter 7:
 Preparing an Income Statement
 Balance Sheet Information on a Work Sheet
 Stakeholders, Component Percentage
Chapter 8:
 Recording Adjusting Entries
 Recording Closing Entries
 Preparing a Post-Closing Trial Balance
 Adjusting Entries, Permanent Accounts, Temporary Accounts, Closing
Entries, Post-Closing Trial Balance, Accounting Cycle
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Quarter 2:
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.5 Describe and prepare a variety of source documents.
1.12 Analyze the trial balance to determine the necessary adjustments to prepare
financial statements.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
2.3 Create and maintain the accounts receivable subsidiary ledger, account for
credit card sales, and apply appropriate accounting techniques for
uncollectible accounts.
2.12 Create and maintain the accounts payable subsidiary ledger
3.4 Explain the importance of high ethical standards in the preparation of
financial statements.
4.3 Prepare and maintain payroll records using manual and computerized
systems.
4.5 Calculate deductions including federal income tax, Social Security, Medicare,
state income tax, and other deduction to determine net pay.
4.6 Calculate employer’s payroll taxes including Social Security, Medicare,
federal unemployment, state unemployment, other taxes, and other
employee benefits paid by the employer.
A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
A1.3.4 Complete payroll using appropriate accounting practices.
Theme: Accounting for a Merchandising Business Organized as a
Corporation
Essential Question: What is the proper accounting procedure for a
merchandising business organized as a corporation?
Chapter 9:
 Journalizing Purchases Using a Purchases Journal
 Journalizing Cash Payments Using a Cash Payments Journal
 Performing Additional Cash Payments Journal Operations
 Journalizing Other Transactions Using a General Journal
 Merchandise, Merchandise Business, Retail Merchandising Business,
Wholesale Merchandising Business, Corporation, Share of Stock,
Stockholder, Special Journal, Cost of Merchandise, Markup, Vendor,
Purchase on Account, Purchases Journal, Special Amount Column,
Purchase Invoice, Terms of Sale, Cash Payments Journal, Cash Discount,
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Purchases Discount, General Amount Column, List Price, Trade Discount,
Contra Account, Cash Short, Cash Over, Purchases Return, Purchases
Return, Purchases Allowance, Debit Memorandum
Chapter 10:
 Journalizing Sales on Account Using a Sales Journal
 Journalizing Cash Receipts Using a Cash Receipts Journal
 Recording Transactions Using a General Journal
 Customer, Sales Tax, Sales Journal, Cash Sale, Credit Card Sale, Pointof-Sale (POS), Terminal Summary, Batch Report, Batching Out, Cash
Receipts Journal, Sales Discount, Sales Return, Sales Allowance, Credit
Memorandum
Chapter 11:
 Posting to an Accounts Payable Ledger
 Posting to an Accounts Receivable Ledger
 Posting from Journals to a General Ledger
 Posting Special Journal Totals to a General Ledger
 Correcting Errors in Subsidiary Ledger Accounts
 Subsidiary Ledger, Accounts Payable Ledger, Accounts Receivable
Ledger, Controlling Account, Schedule of Accounts Payable, Schedule of
Accounts Payable
Chapter 12:
 Preparing Payroll Time Cards
 Determining Payroll Tax Withholding
 Preparing Payroll Records
 Preparing Payroll Checks
 Salary, Pay Period, Payroll, Total Earnings, Payroll Taxes, Withholding
Allowance, Social Security Tax, Medicare Tax, Tax Base, Payroll Register,
Net Pay, Employee Earnings Record
Chapter 13:
 Recording a Payroll
 Recording Employer Payroll Taxes
 Reporting Withholding and Payroll Taxes
 Paying Withholding and Payroll Taxes
 Federal Unemployment Tax, State Unemployment Tax, Lookback Period
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Quarter 3:
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
2.6 Explain the purpose of depreciation.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
A1.2.1 Compare and contrast various types of business ownership and
accounting principles that apply.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Theme: Accounting for a Merchandising Business Organized as a
Corporation – Adjustments and Valuation
Essential Question: What is the proper accounting procedure for
journalizing adjustments and valuation for a merchandising business
organized as a corporation?
Chapter 14:
 Distributing Corporate Earnings to Stockholders
 Beginning an 8-Column Work Sheet for a Merchandising Business
 Planning and Recording a Merchandise Inventory Adjustment
 Planning and Recording an Allowance for Uncollectible Accounts
Adjustment
 Planning and Recording Depreciation Adjustments
 Calculating Federal Income Tax and Completing a Work Sheet
 Retained Earnings, Dividends, Board of Directors, Declaring Dividend,
Merchandise Inventory, Uncollectible Accounts, Allowance Method of
Recording Losses from Uncollectible Accounts, Book Value, Book Value
of Accounts Receivable, Current Assets, Plant Assets, Depreciation
Expense, Estimated Salvage Value, Straight-line Method of Depreciation,
Accumulated Depreciation, Book Value of a Plant Asset
Chapter 15:
 Preparing an Income Statement
 Analyzing and Income Statement
 Preparing a Statement of Stockholders’ Equity
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

Preparing a Balance Sheet
Net Sales, Cost of Merchandise Sold, Gross Profit on Sales, Financial
Ratio, Earnings per Share, Price-Earnings Ratio, Statement of
Stockholders’ Equity, Par Value, Current Liabilities, Long-Term Liabilities,
Supporting Schedule
Chapter 16:
 Recording Adjusting Entries
 Recording Closing Entries for Income Statement Accounts
 Preparing a Post-Closing Trial Balance
Chapter 17:
 Uncollectible Accounts
 Writing Off and Collecting Uncollectible Accounts Receivable
 Writing Off an Account
Chapter 18:
 Buying Plant Assets and Paying Property Tax
 Calculating Depreciation Expense
 Journalizing Depreciation Expense
 Disposing of Plant Assets
 Declining-Balance Method of Depreciation
 Real Property, Personal Property, Assessed Value, Plant Asset Record,
Gain on Plant Asset, Loss on Plant Assets, Declining-Balance Method of
Depreciation
Chapter 19:
 Determining the Quantity of Merchandise Inventory
 Determining the Cost of Merchandise Inventory
 Estimating Inventory
 Periodic Inventory, Perpetual Inventory, Inventory Record, Stock Record,
Stock Ledger, First-in First-out Inventory Costing Method, Last-in Last-out
Inventory Costing Method, Weighted-Average Inventory Costing Method,
Gross Profit Method of Estimating Inventory
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Quarter 4:
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
1.11 Prepare a trial balance and explain its uses and limitations.
1.12 Analyze the trial balance to determine the necessary adjustments to prepare
financial statements.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
2.4 Explain the purposes of notes receivable; establish and maintain accounts for
receivables and related interest.
2.13 Explain the purposes of notes payable; establish and maintain accounts for
payables and related interest.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
4.2 Apply appropriate accounting techniques for the formation, allocation of
earnings, dissolution, and liquidation of a partnership.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Theme: Accounting for a Merchandising Business Organized as a
Corporation – Adjustments and Valuation and Additional Accounting
Procedures for a Partnership and International and Internet Sales
Essential Question: What is the proper accounting procedure for
adjustments and valuation for a merchandising business organized as a
corporation and for international and internet sales?
Chapter 20:
 Promissory Notes
 Notes Payable
 Notes Receivable
 Number of a Note, Date of a Note, Payee of a Note, Time of a Note,
Principal of a Note, Interest Rate of a Note, Maturity Date of a Note, Maker
of a Note, Promissory Note, Creditor, Notes Payable, Interest, Maturity
Value, Current Liabilities, Interest Expense, Notes Receivable, Interest
Income, Dishonored Note
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Chapter 21:
 Accrued Revenue
 Accrued Expenses
 Accrued Revenue, Intellectual Property, Accrued Interest Income,
Reversing Entry, Accrued Expenses, Accrued Interest Expense
Chapter 22:
 Preparing a Work Sheet for a Corporation
 Preparing an Income Statement
 Preparing a Statement of Stockholders’ Equity and Balance Sheet
 Adjusting, Closing, and Reversing Entries for a Corporation
 Long-Term Liabilities, Working Capital, Current Ratio
Chapter 23:
 Forming a Partnership
 Distribution of Net Income and Owners’ Equity Statements
 Dissolving a Partnership
 Partnership, Partner, Partnership Agreement, Distribution of Net Income
Statement, Owners’ Equity Statement, Liquidation of a Partnership,
Realization, Limited Liability Partnership (LLP)
Chapter 24:
 Recording International Sales
 Recording Internet Sales
 Exports, Imports, Contract of Sale, Letter of Credit, Bill of Lading,
Commercial Invoice, Draft, Sight Draft, Time Draft, Trade Acceptance
IV. Instructional Delivery
� Class openers
� Student exploration and inquiry
� Collaborative discussion
� Student problem-solving and demonstration
� Cooperative learning activities
� Group and individual projects
� Hands-on activities
� Technology-enhanced instruction
� Drill and Practice
� Reading for understanding
� Chapter previews
� Journaling/Writing
� Modeling
� Peer teaching
� Focused lecture
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V. District-Approved Instructional Materials
South-Western Accounting 8E-General Journal, © 2006, Claudia Bienias
Gilbertson,
CPA, Mark W. Lehman, CPA and Kenton E. Ross, CPA.
VI. Assessment Methods
� Daily assignments
� Cooperative learning exercises
� Projects/Demonstrations
� Quizzes
� Tests
� Self-assessment
� Observation of attitude, cooperation, and participation
� Punctuated lecture
VII. Standards for Passing
A. Point values may be assigned to above assessments depending on the
amount of time spent and difficulty involved.
B. At the end of each grading period, scores will be added and percentages
determined.
C. Grading scale:
93-100% = A
85-92% = B
76-84% = C
65-75% = D
00-64% = F
Unit 1: Accounting for Service Business-Sole Proprietorship (45 days)
Standards: 1.1, 1.2, 1.3, 1.4, 1.5, 1.6, 1.16, A1.1.1, A1.3.1, A1.3.2, A1.3.3,
A1.2.2, A1.4.1, A1.4.2, A1.2.1
Chapter One: Starting a Proprietorship: Changes that Affect the
Accounting Equation
SCANS Skills:
Resource Competency: Selects goal relevant activities
Sections of Book Covered:
• 1.1The Accounting Equation
• 1.2 How Business Activities Change the Accounting Equation
• 1.3 How Transactions Change Owner’s Equity in an Accounting Equation
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP-1-1
• AP 1-2
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• AP 1-3
• Cases for Critical Thinking
Suggested Activities:
• MP 1-4
• CP 1-5
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity (Peachtree or QuickBooks)
• Graphing Workshop
• Study Guide
• Recycling Problem
Chapter Two: Analyzing Transactions into Debit and Credit Parts
SCANS Skills:
Resource Competency: Ranking Activities
Sections of Book Covered:
• 2.1 Using T-Accounts
• 2.2 Analyzing How Transactions Affect Accounts
• 2.3 Analyzing How Transactions Affect Owner’s Equity Accounts
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP-2-1
• AP 2-2
• AP 2-3
• AP 2-4
• Cases for Critical Thinking
Suggested Activities:
• MP 2-5
• CP 2-6
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
Chapter Three: Recording Transactions in a General Journal
SCANS Skills:
Basic Skill: Writing
Sections of Book Covered:
• 3.1 Journals, Source Documents, and Recording Entries in a Journal
• 3.2 Journalizing Buying Insurance, Buying on Account, and Paying on Account
• 3.3 Journalizing Transactions that Affect Owner’s Equity and Receiving Cash on Account
• 3.4 Starting a New Journal Page, Proving and Ruling a Journal
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Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP-3-1
• AP 3-2
• AP 3-3
• AP 3-4
• AP 3-5
• Cases for Critical Thinking
Suggested Activities:
• MP 3-6
• CP 3-7
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Using Source Documents
• Study Guide
• Recycling Problem
Chapter Four: Posting from a General Journal to a General Ledger
SCANS Skills:
Resource Competency: Organizing and Maintaining Information
Sections of Book Covered:
• 4.1 Preparing a Chart of Accounts
• 4.2 Posting Separate Amounts from a Journal to a General Ledger
• 4.3 Posting Column Totals from a Journal to a General Ledger
• 4.4 Completed Accounting Forms and Making Correcting Entries
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP-4-1
• AP 4-2
• AP 4-3
• AP4-4
• Cases for Critical Thinking
Suggested Activities:
• MP 4-5 (Use of Automated Accounting, Peachtree or QuickBooks Program)
• CP 4-6
• On Your Own Activities
Optional Activity:
• Using Source Documents
• Study Guide
• Recycling Problem
Curriculum Services
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Chapter Five: Cash Control Systems
SCANS Skills:
Personal Qualities: Responsibility
Sections of Book Covered:
• 5-1 Checking Accounts
• 5-2 Bank Reconciliation
• 5-3 Dishonored Checks and Electronic Banking
• 5-4 Petty Cash
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP-5-1
• AP 5-2
• AP 5-3
• AP 5-4
• Cases for Critical Thinking
Suggested Activities:
• MP 5-5 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 5-6
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Graphing Workshop
• Study Guide
• Recycling Problem
Reinforcement Activity 1-Part A
• An Accounting Cycle for a Proprietorship: Journalizing and Posting Transactions
SOUTH DAKOTA CTE CONTENT STANDARDS
1.1 Define accounting and explain the purpose of the accounting system.
1.2 Define the concept of generally acceptable accounting principles.
1.3 Classify items as assets, liabilities, or owner’s equity.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
1.5 Describe and prepare a variety of source documents.
1.6 Analyze business transactions using source documents and describe the
effect on the accounting equation.
1.7 Explain the double-entry system of accounting and apply debit and credit
rules when analyzing business transactions.
1.9 Explain the purpose of a journal and its relationship to the ledger.
1.10 Explain the purpose of a ledger account and post information from the
journal to the ledger.
1.16 Demonstrate an understanding of the fundamental accounting equation.
Curriculum Services
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2.1 Define cash, prepare bank reconciliation, establish and maintain petty cash
and change accounts, identify cash control techniques, explain the benefits
of electronic fund transfers, ATM transactions, and uses of a debit card.
A1.3.1 Examine, analyze and categorize financial transactions.
A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
A1.3.3 Post information from journals of all types into general and subsidiary
ledger accounts.
Chapter Six: Worksheet for a Service Business
SCANS Skills: Basic Skill: Arithmetic/Mathematics
Sections of Book Covered:
• 6-1 Creating a Worksheet
• 6-2 Planning Adjusting Entries on a Worksheet
• 6-3 Extending Financial Statement Information on a Worksheet
• 6-4 Finding and Correcting Errors on the Worksheet
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP-6-1
• AP 6-2
• AP 6-3
• AP 6-4
• Cases for Critical Thinking
Suggested Activities:
• MP 6-5
• CP 6-6
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
Chapter Seven: Financial Statements for a Proprietorship
SCANS Skills:
Personal Qualities: Self-Esteem
Sections of Book Covered:
• 7-1 Preparing an Income Statement
• 7-2 Balance Sheet Information on a Work Sheet
Curriculum Services
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Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP-7-1
• AP 7-2
• Cases for Critical Thinking
Suggested Activities:
• MP 7-3
• CP 7-4
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Graphing Workshop
• Study Guide
• Recycling Problem
Chapter Eight: Recording Adjusting and Closing Entries for a Service
Business
SCANS Skills:
Thinking Skill: Seeing Things in the Mind’s Eye
Sections of Book Covered:
• 8-1 Recording Adjusting Entries
• 8-2 Recording Closing Entries
• 8-3 Preparing a Post-Closing Trial Balance
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP-8-1
• AP 8-2
• AP 8-3
• Cases for Critical Thinking
Suggested Activities:
• MP 8-4 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 8-5
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
Curriculum Services
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Reinforcement Activity 1-Part B
• An Accounting Cycle for a Proprietorship: End of the Fiscal Period Work
SOUTH DAKOTA CTE CONTENT STANDARDS
1.11 Prepare a trial balance and explain its uses and limitations.
1.12 Analyze the trial balance to determine the necessary adjustments to prepare
financial statements.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
1.16 Demonstrate an understanding of the fundamental accounting equation.
A1.2.1 Compare and contrast various types of business ownership and
accounting principles that apply.
A1.3.1 Examine, analyze and categorize financial transactions.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Unit 2: Merchandising Business-Corporation (40-45 days)
Standards: 1.2, 1.5, 2.3, 2.12, A1.3.4, A1.3.2, A1.4.1, A1.4.2,
Chapter Nine: Journalizing Purchases and Cash Payments
SCANS Skills:
Thinking Skill: Creative Thinking
Sections of Book Covered:
• 9-1 Journalizing Purchases Using a Purchases Journal
• 9-2 Journalizing Cash Payments Using a Cash Payments Journal
• 9-3 Performing Additional Cash Payments Journal Operations
• 9-4 Journalizing other Transactions Using a General Journal
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP-9-1
• AP 9-2
• AP 9-3
• AP 9-4
• AP 9-5
• Cases for Critical Thinking
Suggested Activities:
• MP 9-6 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 9-7
• On Your Own Activities
Curriculum Services
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Optional Activity:
• Automated Accounting Activity
• Using Source Documents
• Study Guide
• Recycling Problem
Chapter Ten: Journalizing Sales and Cash Receipts Using Special Journals
SCANS Skills:
Basic Skill: Reading
Sections of Book Covered:
• 10-1 Journalizing Sales on Account Using a Sales Journal
• 10-2 Journalizing Cash Receipts Using a Cash Receipts Journal
• 10-3 Recording Transactions Using a General Journal
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 10-1
• AP 10-2
• AP 10-3
• Cases for Critical Thinking
Suggested Activities:
• MP 10-4 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 10-5
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Using Source Documents
• Study Guide
• Recycling Problem
Chapter Eleven: Posting to General and Subsidiary Ledgers
SCANS Skills:
Interpersonal Competencies: Participating as a Member of Team
Sections of Book Covered:
• 11-1 Posting to an Accounts Payable Ledger
• 11-2 Posting to an Accounts Receivable Ledger
• 11-3 Posting from Journals to a General Ledger
• 11-4 Posting Special Journal Totals to a General Ledger
• 11-5 Correcting Errors in Subsidiary Ledger Accounts
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 11-1
• AP 11-2
• AP 11-3
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• AP 11-4
• AP 11-5
• Cases for Critical Thinking
Suggested Activities:
• MP 11-6
• CP 11-7
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
Chapter Twelve: Preparing Payroll Records
SCANS Skills:
Personal Qualities: Self-Esteem
Sections of Book Covered:
• 12-1 Preparing Payroll Time Cards
• 12-2 Determining Payroll Tax Withholding
• 12-3 Preparing Payroll Records
• 12-4 Preparing Payroll Checks
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 12-1
• AP 12-2
• AP 12-3
• AP 12-4
• AP 12-5
• Cases for Critical Thinking
Suggested Activities:
• MP 12-6 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 12-7
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Graphing Workshop
• Study Guide
• Recycling Problem
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Chapter Thirteen: Payroll Accounting, Taxes, and Reports
SCANS Skills:
Basic Skills: Reading
Sections of Book Covered:
• 13-1 Recording a Payroll
• 13-2 Recording Employer Payroll Taxes
• 13-3 Reporting Withholding and Payroll Taxes
• 13-4 Paying Withholding and Payroll Taxes
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 13-1
• AP 13-2
• AP 13-3
• AP 13-4
• Cases for Critical Thinking
Suggested Activities:
• MP 13-6
• CP 13-7
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
Reinforcement Activity 2-Part A
• An Accounting Cycle for a Corporation: Journalizing and Posting Transactions
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.5 Describe and prepare a variety of source documents.
2.3 Create and maintain the accounts receivable subsidiary ledger, account for
credit card sales, and apply appropriate accounting techniques for
uncollectible accounts.
2.12 Create and maintain the accounts payable subsidiary ledger
4.3 Prepare and maintain payroll records using manual and computerized
systems.
4.5 Calculate deductions including federal income tax, Social Security, Medicare,
state income tax, and other deduction to determine net pay.
4.6 Calculate employer’s payroll taxes including Social Security, Medicare,
federal unemployment, state unemployment, other taxes, and other
employee benefits paid by the employer.
A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
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A1.3.4 Complete payroll using appropriate accounting practices.
Chapter Fourteen: Distributing Dividends and Preparing a Worksheet for a
Merchandising Business
SCANS Skills:
Technology Competency: Maintaining and Troubleshooting Equipment
Sections of Book Covered:
• 14-1 Distributing Corporate Earnings to Stockholders
• 14-2 Beginning an 8-Column Worksheet for a Merchandising Business
• 14-3 Planning and Recording a Merchandise Inventory Adjustment
• 14-4 Planning and Recording and Allowance for Uncollectible Accounts Adjustment
• 14-5 Planning and Recording Depreciation Adjustments
• 14-6 Calculating Federal Income Tax and Completing a Worksheet
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 14-1
• AP 14-2
• AP 14-3
• AP 14-4
• AP 14-5
• AP 14-6
• Cases for Critical Thinking
Suggested Activities:
• MP 14-7
• CP 14-8
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
Chapter Fifteen: Financial Statements for a Corporation
SCANS Skills:
Thinking Skills: Reasoning
Sections of Book Covered:
• 15-1 Preparing an Income Statement
• 15-2 Analyzing an Income Statement
• 15-3 Preparing a Statement of Stockholders’ Equity
• 15-4 Preparing a Balance Sheet
Required Activities:
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• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 15-1
• AP 15-2
• AP 15-3
• AP 15-4
• Cases for Critical Thinking
Suggested Activities:
• MP 15-5
• CP 15-6
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Graphing Workshop
• Study Guide
• Recycling Problem
Chapter Sixteen: Recording Adjusting and Closing Entries for a
Corporation
SCANS Skills:
Thinking Skills: Knowing How to Learn
Sections of Book Covered:
• 16-1 Recording Adjusting Entries
• 16-2 Recording Closing Entries for Income Statement Accounts
• 16-3 Preparing a Post-Closing Trial Balance
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 16-1
• AP 16-2
• AP 16-3
• AP 16-4
• Cases for Critical Thinking
Suggested Activities:
• MP 16-5
• CP 16-6
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
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Reinforcement Activity 2-Part B
An Accounting Cycle for a Corporation: End of Fiscal Period Work
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
2.6 Explain the purpose of depreciation.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Simulation Activity: Unique Global Imports
Transactions are Recorded in Simulation Packet and Financial statements completed in a
computerized Spreadsheet
SOUTH DAKOTA CTE CONTENT STANDARDS
1.1 Define accounting and explain the purpose of the accounting system.
1.2 Define the concept of generally acceptable accounting principles.
1.3 Classify items as assets, liabilities, or owner’s equity.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
1.5 Describe and prepare a variety of source documents.
1.6 Analyze business transactions using source documents and describe the
effect on the accounting equation.
1.7 Explain the double-entry system of accounting and apply debit and credit
rules when analyzing business transactions.
1.9 Explain the purpose of a journal and its relationship to the ledger.
1.10 Explain the purpose of a ledger account and post information from the
journal to the ledger.
1.11 Prepare a trial balance and explain its uses and limitations.
1.12 Analyze the trial balance to determine the necessary adjustments to prepare
financial statements.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
1.16 Demonstrate an understanding of the fundamental accounting equation.
2.1 Define cash, prepare bank reconciliation, establish and maintain petty cash
and change accounts, identify cash control techniques, explain the benefits
of electronic fund transfers, ATM transactions, and uses of a debit card.
A1.2.1 Compare and contrast various types of business ownership and
accounting principles that apply.
A1.2.2 Prepare and comprehend proper cash management techniques.
A1.3.1 Examine, analyze and categorize financial transactions.
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A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
A1.3.3 Post information from journals of all types into general and subsidiary
ledger accounts.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
2.3 Create and maintain the accounts receivable subsidiary ledger, account for
credit card sales, and apply appropriate accounting techniques for
uncollectible accounts.
2.12 Create and maintain the accounts payable subsidiary ledger
3.4 Explain the importance of high ethical standards in the preparation of
financial statements.
4.3 Prepare and maintain payroll records using manual and computerized
systems.
4.5 Calculate deductions including federal income tax, Social Security, Medicare,
state income tax, and other deduction to determine net pay.
4.6 Calculate employer’s payroll taxes including Social Security, Medicare,
federal unemployment, state unemployment, other taxes, and other
employee benefits paid by the employer.
A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
A1.3.4 Complete payroll using appropriate accounting practices.
2.6 Explain the purpose of depreciation.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Unit 3: Accounting for Service Business-Sole Proprietorship (45 days)
Standards: 1.2, 1.11, 1.12, 1.13, 1.14, 2.4, 2.6, 2.13, 4.1
Chapter Seventeen: Accounting for Uncollectible Accounts Receivable
SCANS Skills:
Thinking Skills: Reasoning
Sections of Book Covered:
• 17-1 Uncollectible Accounts
• 17-2 Writing off and Collecting Uncollectible Accounts Receivable
Required Activities:
• Work Together Activities
• Terms Review (as available)
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• Audit Your Understanding
• AP 17-1
• AP 17-2 (Use of Automated Accounting, Peachtree or QuickBooks)
• AP 17-3 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• Cases for Critical Thinking
Suggested Activities:
• MP 17-4 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 17-5
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Graphing Workshop
• Study Guide
• Recycling Problem
Chapter Eighteen: Accounting for Plant Assets and Depreciation
SCANS Skills:
Personal Quality: Self-Management
Sections of Book Covered:
• 18-1 Buying Plant Assets and Paying Property Tax
• 18-2 Calculating Depreciation Expense
• 18-3 Journalizing Depreciation Expense
• 18-4 Disposing of Plant Assets
• 18-5 Declining-Balance Method Depreciation
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 18-1
• AP 18-2
• AP 18-3
• AP 18-4
• AP 18-5
• AP 18-6
• Cases for Critical Thinking
Suggested Activities:
• MP 18-7 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 18-8
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
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Chapter Nineteen: Accounting for Inventory
SCANS Skills:
Personal Quality: Sociability
Sections of Book Covered:
• 19-1 Determining the Quantity of Merchandise Inventory
• 19-2 Determining the Cost of Merchandise Inventory
• 19-3 Estimating Inventory
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 19-1
• AP 19-2
• AP 19-3
• Cases for Critical Thinking
Suggested Activities:
• MP 19-4
• CP 19-5
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Graphing Workshop
• Study Guide
• Recycling Problem
Chapter Twenty: Accounting for Notes and Interest
SCANS Skills:
Resource Competency: Acquiring and Evaluating Information
Sections of Book Covered:
• 20-1 Promissory Notes
• 20-2 Notes Payable
• 20-3 Notes Receivable
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 20-1
• AP 20-2
• AP 20-3
• AP 20-4
• Cases for Critical Thinking
Suggested Activities:
• MP 20-5 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 20-6
• On Your Own Activities
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Optional Activity:
• Automated Accounting Activity
• Graphing Workshop
• Study Guide
• Recycling Problem
Reinforcement Activity 3-Part A
An Accounting Cycle for a Corporation: Journalizing and Posting Transactions
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
2.4 Explain the purposes of notes receivable; establish and maintain accounts for
receivables and related interest.
2.13 Explain the purposes of notes payable; establish and maintain accounts for
payables and related interest.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
Chapter Twenty-One: Accounting for Accrued Revenue and Expenses
SCANS Skills:
Basic Skills: Listening
Sections of Book Covered:
• 21-1 Accrued Revenue
• 21-2 Accrued Expenses
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 21-1
• AP 21-2
• AP 21-3
• Cases for Critical Thinking
Suggested Activities:
• MP 21-4 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 21-5
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
Chapter Twenty-Two: End-of-Fiscal-Period Work for a Corporation
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SCANS Skills:
Basic Skills: Arithmetic/Mathematics
Sections of Book Covered:
• 22-1 Preparing a Worksheet for a Corporation
• 22-2 Preparing an Income Statement
• 22-3 Preparing a Statement of Stockholders’ Equity and Balance Sheet
• 22-4 Adjusting, Closing, and Reversing Entries for a Corporation
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 22-1
• AP 22-2
• AP 22-3
• AP 22-4
• Cases for Critical Thinking
Suggested Activities:
• MP 22-5 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 22-6
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Graphing Workshop
• Study Guide
• Recycling Problem
Reinforcement Activity 3-Part B
An Accounting Cycle for a Corporation: End-of-Fiscal-Period Work
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
1.11 Prepare a trial balance and explain its uses and limitations.
1.12 Analyze the trial balance to determine the necessary adjustments to prepare
financial statements.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
4.2 Apply appropriate accounting techniques for the formation, allocation of
earnings, dissolution, and liquidation of a partnership.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
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Unit 4: Additional Accounting Procedures (15 days)
Standards: 1.2, 4.1, 4.2
Chapter Twenty-Three: Accounting for Partnerships
SCANS Skills:
Systems Competency: Monitors and Corrects Performance
Sections of Book Covered:
• 23-1 Forming a Partnership
• 23-2 Distribution of Net Income and Owners’ Equity Statements
• 23-3 Dissolving a Partnership
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 23-1
• AP 23-2
• AP 23-3
• AP 23-4
• Cases for Critical Thinking
Suggested Activities:
• MP 23-5
• CP 23-6
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Auditing for Errors
• Study Guide
• Recycling Problem
Chapter Twenty-Four: Recording International and Internet Sales
SCANS Skills:
Technology Skill: Selects Technology
Sections of Book Covered:
• 24-1 Recording International Sales
• 24-2 Recording Internet Sales
Required Activities:
• Work Together Activities
• Terms Review (as available)
• Audit Your Understanding
• AP 24-1
• AP 24-2
• Cases for Critical Thinking
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Suggested Activities:
• MP 24-3 (Use of Automated Accounting, Peachtree, or QuickBooks Program)
• CP 24-4
• On Your Own Activities
Optional Activity:
• Automated Accounting Activity
• Graphing Workshop
• Study Guide
• Recycling Problem
Optional Year-End Project:
• Create a brochure on one of the businesses featured in the “Accounting in the Real World”
section of the chapters. Include the following:
o History of the company
o Board of Directors
o Type of business-corporation, partnership, proprietorship
o Product or service they provide
o Include graphics/pictures
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Unique Global Import Simulation
Accounting I
Transactions are Recorded in Simulation Packet and Financial statements completed in a
computerized Spreadsheet
SOUTH DAKOTA CTE CONTENT STANDARDS
1.1 Define accounting and explain the purpose of the accounting system.
1.2 Define the concept of generally acceptable accounting principles.
1.3 Classify items as assets, liabilities, or owner’s equity.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
1.5 Describe and prepare a variety of source documents.
1.6 Analyze business transactions using source documents and describe the
effect on the accounting equation.
1.7 Explain the double-entry system of accounting and apply debit and credit
rules when analyzing business transactions.
1.9 Explain the purpose of a journal and its relationship to the ledger.
1.10 Explain the purpose of a ledger account and post information from the
journal to the ledger.
1.11 Prepare a trial balance and explain its uses and limitations.
1.12 Analyze the trial balance to determine the necessary adjustments to prepare
financial statements.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
1.16 Demonstrate an understanding of the fundamental accounting equation.
2.1 Define cash, prepare bank reconciliation, establish and maintain petty cash
and change accounts, identify cash control techniques, explain the benefits
of electronic fund transfers, ATM transactions, and uses of a debit card.
A1.2.1 Compare and contrast various types of business ownership and
accounting principles that apply.
A1.2.2 Prepare and comprehend proper cash management techniques.
A1.3.1 Examine, analyze and categorize financial transactions.
A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
A1.3.3 Post information from journals of all types into general and subsidiary
ledger accounts.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
2.3 Create and maintain the accounts receivable subsidiary ledger, account for
credit card sales, and apply appropriate accounting techniques for
uncollectible accounts.
2.12 Create and maintain the accounts payable subsidiary ledger
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3.4 Explain the importance of high ethical standards in the preparation of
financial statements.
4.3 Prepare and maintain payroll records using manual and computerized
systems.
4.5 Calculate deductions including federal income tax, Social Security, Medicare,
state income tax, and other deduction to determine net pay.
4.6 Calculate employer’s payroll taxes including Social Security, Medicare,
federal unemployment, state unemployment, other taxes, and other
employee benefits paid by the employer.
A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
A1.3.4 Complete payroll using appropriate accounting practices.
2.6 Explain the purpose of depreciation.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Instructions:
1. Transactions: Dec 1-15
 File Source Documents in correct file.
 Writing Check (Use Pen), Check Register (Paying for bills, etc)
 Posting: Daily (ex: posted the 2nd before going on 3rd – update each day.)
 December 2nd – Bank Statement
 Equality and Prove Cash (Graded)
 Posting
 Payroll Dec 15th, Payroll Register, Earning Record
 Check to the Payroll Account
 Equality and Prove Cash (Graded)
2. Transactions: Dec 16-31
 Posting
 Payroll Dec 31, Payroll Register, Earning Record
 Check to the Payroll Account
 Equality and Prove Cash (Graded)
3. Schedule of Account Payable (Complete on computerized spreadsheet)
Schedule of Account Receivable (Complete on computerized spreadsheet)
4. Worksheet (Complete on computerized spreadsheet):
 Trial Balance
 Adjustments
 Income Statement
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
Balance Sheet
5. Financial Statement: (Complete on computerized spreadsheet)
 Income Statement
 Income Statement Analysis
 Stockholder’s Equity Statement
 Balance Sheet
6. Journal:
 Adjusting Entries
 Closing Entries
 Post
7. Post-Closing Trial Balance (Complete on computerized spreadsheet)
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Unique Global Imports Simulation
Grade Sheet
300 points – Daily Grade
1. Dec. 1-15
 Equality & Prove Cash
 Bank Statement
 Posting
 Checks & Check Register
____________ 80pts
2. Dec 16-31
 Equality & Prove Cash
 Posting
 Check & Check Register
 Payroll Register & Earnings Record
____________ 80pts
3. Schedule of Account Payable
4. Schedule of Account Receivable
5. Worksheet
 Trial Balance
 Adjustments
 Income Statement
 Balance Sheet
____________ 10pts
____________ 10pts
____________ 35pts
6. Financial Statement
 Income Statement
 Income Analysis
 Stockholder’s Equity Statement
 Balance Sheet
____________ 10pts
____________ 5pts
____________ 10pts
____________ 15pts
7. Journal
 Adjusting Entries
 Closing Entries
 Posting
____________ 35pts
8. Post-Closing Trial Balance
____________ 10pts
9. Total Points
____________ 300pts
10. Audit Test
____________ 100pts
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Significant Task Grading/Rubric:
Simulation Activity: Unique Global Imports Audit Exam
Link for Unique Global Imports Audit Exam
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Accounting 1 – Reinforcement Activity 1 Part A & B – Extreme Adventures
An Accounting Cycle for a Proprietorship: Journalizing and Posting Transactions
and End-of-Fiscal-Period Work
Reinforcement Activity 1-Part A
• An Accounting Cycle for a Proprietorship: Journalizing and Posting Transactions
SOUTH DAKOTA CTE CONTENT STANDARDS
1.1 Define accounting and explain the purpose of the accounting system.
1.2 Define the concept of generally acceptable accounting principles.
1.3 Classify items as assets, liabilities, or owner’s equity.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
1.5 Describe and prepare a variety of source documents.
1.6 Analyze business transactions using source documents and describe the
effect on the accounting equation.
1.7 Explain the double-entry system of accounting and apply debit and credit
rules when analyzing business transactions.
1.9 Explain the purpose of a journal and its relationship to the ledger.
1.10 Explain the purpose of a ledger account and post information from the
journal to the ledger.
1.16 Demonstrate an understanding of the fundamental accounting equation.
2.1 Define cash, prepare bank reconciliation, establish and maintain petty cash
and change accounts, identify cash control techniques, explain the benefits
of electronic fund transfers, ATM transactions, and uses of a debit card.
A1.3.1 Examine, analyze and categorize financial transactions.
A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
A1.3.3 Post information from journals of all types into general and subsidiary
ledger accounts.
Reinforcement Activity 1-Part B
• An Accounting Cycle for a Proprietorship: End of the Fiscal Period Work
SOUTH DAKOTA CTE CONTENT STANDARDS
1.11 Prepare a trial balance and explain its uses and limitations.
1.12 Analyze the trial balance to determine the necessary adjustments to prepare
financial statements.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
1.16 Demonstrate an understanding of the fundamental accounting equation.
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A1.2.1 Compare and contrast various types of business ownership and
accounting principles that apply.
A1.3.1 Examine, analyze and categorize financial transactions.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Textbook:
Pages 147-149, 228
Complete in Workbook
General Journal without adjusting and closing entries - 10 points
General Journal with adjusting entries – 5 points
General Journal with closing entries – 10 points
General Ledger – 15 points
Bank Reconciliation – 5 points
Work Sheet – 20 points
Balance Sheet – 10 points
Income Statement – 10 points
Post-Closing Trial Balance – 5 points
Daily Points: 90
Audit Test: 25 points
Link to Student Reinforcement Activity 1 Part A & B
Link to Answer Key for Reinforcement Activity 1 Part A & B
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Significant Task Grading/Rubric:
Accounting 1 – Reinforcement Activity 2 Part A & B – Medical Services Company
(MSC)
An Accounting Cycle for a Corporation: Journalizing and Posting Transactions and
End-of-Fiscal-Period Work
Reinforcement Activity 2-Part A
• An Accounting Cycle for a Corporation: Journalizing and Posting Transactions
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.5 Describe and prepare a variety of source documents.
2.3 Create and maintain the accounts receivable subsidiary ledger, account for
credit card sales, and apply appropriate accounting techniques for
uncollectible accounts.
2.12 Create and maintain the accounts payable subsidiary ledger
4.3 Prepare and maintain payroll records using manual and computerized
systems.
4.5 Calculate deductions including federal income tax, Social Security, Medicare,
state income tax, and other deduction to determine net pay.
4.6 Calculate employer’s payroll taxes including Social Security, Medicare,
federal unemployment, state unemployment, other taxes, and other
employee benefits paid by the employer.
A1.3.2 Apply the accounting equation as a guide to journalize basic transactions
into a journal.
A1.3.4 Complete payroll using appropriate accounting practices.
Reinforcement Activity 2-Part B
An Accounting Cycle for a Corporation: End of Fiscal Period Work
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
2.6 Explain the purpose of depreciation.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Textbook:
Pages 398-401, 508
Complete in Workbook
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Purchase Journal – 10 points
Cash Payments Journal – 10 points
General Journal without adjusting and closing entries - 10 points
Sales Journal –10 points
Cash Receipts Journal –10 points
Accounts Payable Ledger – 10 points
Accounts Receivable Ledger – 10 points
General Journal with adjusting entries – 5 points
General Journal with closing entries – 10 points
General Ledger – 25 points
Schedule of Accounts Receivable – 5 points
Schedule of Accounts Payable – 5 points
Proving Cash – 5 points
Work Sheet – 30 points
Balance Sheet – 10 points
Income Statement – 10 points
Post-Closing Trial Balance – 5 points
Statement of Stockholders Equity – 5 points
Calculate Earnings Per Share and Price Earnings Ratio – 5 points
Daily Points: 190
Audit Test: 25 points
Link to Student Reinforcement Activity 2 Part A & B
Link to Answer Key for Reinforcement Activity 2 Part A & B
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Significant Task Grading/Rubric:
Accounting 1 – Reinforcement Activity 3 Part A & B – Sparkle, Inc.
An Accounting Cycle for a Corporation: Journalizing and Posting Transactions and
End-of-Fiscal-Period Work
Reinforcement Activity 3-Part A
An Accounting Cycle for a Corporation: Journalizing and Posting Transactions
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
2.4 Explain the purposes of notes receivable; establish and maintain accounts for
receivables and related interest.
2.13 Explain the purposes of notes payable; establish and maintain accounts for
payables and related interest.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
Reinforcement Activity 3-Part B
An Accounting Cycle for a Corporation: End-of-Fiscal-Period Work
SOUTH DAKOTA CTE CONTENT STANDARDS
1.2 Define the concept of generally acceptable accounting principles.
1.4 Describe the purposes of the revenue, expense, and drawing accounts and
illustrate the effects on owner’s equity.
1.11 Prepare a trial balance and explain its uses and limitations.
1.12 Analyze the trial balance to determine the necessary adjustments to prepare
financial statements.
1.13 Prepare and explain the purpose of each financial statement and describe
the way they articulate with each other.
1.14 Explain the purposes of the closing process, journalize and post closing
entries, and prepare a post-closing trial balance.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
4.2 Apply appropriate accounting techniques for the formation, allocation of
earnings, dissolution, and liquidation of a partnership.
A1.4.1 Complete and examine an accounting worksheet.
A1.4.2 Prepare and interpret formal end of fiscal year financial statements.
Textbook:
Pages 610-613, 668
Complete in Workbook
Curriculum Services
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Purchase Journal – 10 points
Cash Payments Journal – 10 points
General Journal without adjusting and closing entries - 10 points
Sales Journal –10 points
Cash Receipts Journal –10 points
Accounts Payable Ledger – 10 points
Accounts Receivable Ledger – 10 points
General Journal with adjusting entries – 5 points
General Journal with closing entries – 10 points
Journalize and Post the Reversing Entries – 10 points
General Ledger – 25 points
Plant Asset Record – 15 points
Schedule of Accounts Receivable – 5 points
Schedule of Accounts Payable – 5 points
Proving Cash – 5 points
Work Sheet – 40 points
Balance Sheet – 10 points
Income Statement – 10 points
Post-Closing Trial Balance – 5 points
Statement of Stockholders Equity – 5 points
Calculate Earnings Per Share and Price Earnings Ratio – 5 points
Daily Points: 225
Audit Test: 25 points
Link to Student Reinforcement Activity 2 Part A & B
Link to Answer Key for Reinforcement Activity 2 Part A & B
Curriculum Services
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