Day 65a – Quarter 4 Accounting
Great to see you!
(Regular 90 minute class)
Bell Ringer 14-1 and 14-2:
1. Under what major chart of accounts division are the owner’s equity accounts for a corporation
normally listed?
2. How many accounts are kept for the investment of all owners of a corporation?
3. What account does a corporation use to record earnings not yet distributed to stockholders?
4. What action is required before a corporation can distribute income to its stockholders?
5. What accounts are used for the adjustment of office supplies?
6. What accounts are used for the adjustment to prepaid insurance?
Objective Chapter 14:
1. We will define account terms related to distributing dividends and preparing a work sheet for a
merchandising business.
2. We will identify accounting concepts and practices related to distributing dividends and preparing a work
sheet for a merchandising business.
3. We will journalize the declaration and payment of a dividend.
4. We will begin a work sheet for a merchandising business.
5. We will plan work sheet adjustments for merchandise inventory, supplies, prepaid expenses, uncollectible
accounts, and depreciation.
6. We will calculate federal income tax and plan the work sheet adjustment for federal income tax.
7. We will complete a work sheet for a merchandising business
Reminder:
FBLA/Interact Officer Meeting:
FBLA/Interact Club Meeting:
FBLA/Interact Forms Updates:
FBLA/Interact Competitive Events:
FBLA/Interact Spring/Fall Regional/State/National Conferences
Complete Chapter 13 Test
Begin Chapter 14
Read Chapter 14 on pages 402 – 437
Complete the following:
Chapter 14-1 Terms Review in Quizlet
Chapter 14-1 Audit Your Understanding
Chapter 14-1 Work Together
Chapter 14-1 On Your Own
Chapter 14-1 Application Problem
Complete the following:
Chapter 14-2 Audit Your Understanding
Chapter 14-2 Work Together
Chapter 14-2 On Your Own
Chapter 14-2 Application Problem
Complete the following:
Chapter 14-3 Term Review in Quizlet
Chapter 14-3 Audit Your Understanding
Chapter 14-3 Work Together
Chapter 14-3 On Your Own
Chapter 14-3 Application Problem
Complete the following:
Chapter 14-4 Terms Review in Quizlet
Chapter 14-4 Audit Your Understanding
Chapter 14-4 Work Together
Chapter 14-4 On Your Own
Chapter 14-4 Application Problem
Complete the following:
Chapter 14-5 Terms Review in Quizlet
Chapter 14-5 Audit Your Understanding
Chapter 14-5 Work Together
Chapter 14-5 On Your Own
Chapter 14-5 Application Problem
Complete the following:
Chapter 14-6 Audit Your Understanding
Chapter 14-6 Work Together
Chapter 14-6 On Your Own
Chapter 14-6 Application Problem
Complete the following:
Chapter 14 Study Guide
Chapter 14-7 Mastery Problem
Complete: Chapter 14 TEST!
Begin Chapter 15!
Exit Ticket: In a Word Document Chapter 14-3 AND 14-4
Complete:
1. In what order should general ledger accounts be listed on a work sheet?
2. What accounts are used for the adjustment for merchandise inventory?
3. What adjusting entry is entered on a work sheet when the ending merchandise inventory is less
than the beginning value?
4. When is the temporary account Income Summary used?
5. Why is an uncollectible account recorded as an expense rather than a reduction in revue?
6. When do businesses normally estimate the amount of their uncollectible accounts expense?
7. What two objectives will be accomplished by recording an estimated amount of uncollectible
accounts expense?
8. Why is Allowance for Uncollectible Accounts called a contra account?
9. How is the book value of accounts receivable calculate?
Pair, Share, and Compare
HAVE A GREAT DAY, AND I WILL SEE YOU NEXT CLASS:)