Sioux Falls Public School District
Accounting II
January 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 II Course Description: Generate computerized reports for
detailed payroll records, uncollectible accounts, depreciation, accrued income
and expenses, prepaid income and prepaid expenses; record departmental
transactions; demonstrate knowledge of cost accounting, managerial accounting
and manufacturing accounting.
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.
1.6 Analyze business transactions using source documents and describe the effect on the
accounting equation.
1.8 Journalize business transactions using various journal formats.
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.
1.15 Use spreadsheet and accounting software to maintain accounting records and describe the
differences between manual and computerized accounting systems.
A2.1.1 Categorize financial transactions for a departmentalized accounting system.
A2.1.2 Apply accounting control system procedures to maintain accurate records.
Chapter 1
 Assets, Liabilities, Stockholder’s Equity, Posting, General Ledgers and Subsidiary
Ledgers
 Purchase, General, Cash Payment
Chapter 2
 Sales, General, Cash Receipt Journals
Chapter 3
 Payroll Register, Earnings Record, Salary Expense, Payroll Expense, Unemployment
Taxes
Chapter 4
 Direct and Indirect Expenses, Gross Profit Method Merchandise Inventory Sheet, Interim
Departmental Statement of Gross Profit, Schedule of Accounts Payable and Schedule of
Accounts Receivable,
 Worksheet – Trial Balance, Adjusting Entries, Income Statement and Balance Sheet, Net
Income or Net Loss
 Departmental Margin Statement, Income Statement, Stockholder’s Equity Statement and
Balance Sheet
 General Journal – Adjusting and Closing Entries, Post-Closing Trial Balance
Reinforcement Activity #1 – Computerized
Accounting Simulation Sounds Inc. – Computerized
 Significant Task
Chapter 5
 Voucher System, Voucher Register, Check Register
Chapter 6
 Stock Record, Inventory Record, FIFO, LIFO, Weighted Average Inventory
 Turnover Ratio, Ave Number of Days of Merchandise Inventory
Quarter 2:
2.5 Compare and evaluate inventory concepts and costing procedures and apply these concepts
and procedures to merchandising and manufacturing businesses.
2.8 Use spreadsheet or accounting software to maintain accounting records for short-term and
long-term assets.
A2.2.1 Demonstrate the ability to handle uncollectible accounts/bad debts.
A2.2.2 Demonstrate the principles for plant assets and depreciation of assets.
A2.2.3 Analyze the principles for notes payable and notes receivable.
A2.2.4 Analyze the principles for adjustments for accruals.
Chapter 7
 Direct Write Off and Allowance Method Uncollectible Accounts
 Accounts Receivable Turnover Ratio and Ave Number of Days Payment
Chapter 8
 Plant Asset Record, Annual and Accumulated Depreciation
 Straight-Line, Double Declining, Sum of Year’s Digits, Modified Accelerated Cost
Recovery System, and Depletion Methods
 Discarding, Selling and Trading an Plant Asset
Chapter 9
 Notes Payable and Interest Expense
 Adjusting and Reversing Entries
Chapter 10
 Notes Receivable and Accrued Revenue
 Adjusting and Reversing Entries
Chapter 11
 Corporation, Charter, Board of Directors, Preferred and Common Stock
 Organization Cost, Capital Stocks, Declaring Dividends, Payment of Dividends
Chapter 12
 Capital Stock, Discounts on Capital Stock and Treasury Stock
 Bonds and Bond Sinking Funds
Chapter 13
 Adjusting Entries, Earnings per Share, Equity per Share, Price-Earning Ratio
 Ratio, Rate Earn on Ave, Adjusting, Closing and Reversing Entries for Corporation
Quarter 3:
3.2 Use a spreadsheet or accounting software to evaluate the impact of changes in
operating procedures, accounting methods, and estimates on the financial statements
and ratios.
3.4 Explain the importance of high ethical standards in the preparation of financial
statements.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
A2.3.1 Examine the process of organizing, paying dividends, and acquiring additional capital for a
corporation.
A2.3.2 Analyze financial statements for a corporation
Reinforcement Activity #2 – Computerized
 Significant Task
Chapter 14
 Budgets – Income Statements, Sales Budget Schedule 1, Purchase Budget Schedule 2,
Selling Expenses Budget Schedule 3, Administrative Expenses Budget Schedule 4,
Other Revenue and Expenses Budget Schedule 5, Cash Receipts Budget Schedule A,
Cash Payments Budget Schedule B, and Cash Budget.
Chapter 15
 Unit Cost, Variable and Fixed Cost, Contribution Margin, Breakeven Points – Unit and
Dollar Sales, and Planned Net Income.
Chapter 16
 Present Value and Annuities
Chapter 17
 Comparative Income Statement, Statement of Stockholder’s Equity, and Balance Sheet.
 Rate Earned on Ave Total Assets, Stockholder’s Equity, Net Sales.
 Earnings per share and ratio, Accounts Receivable Turnover Ratio, Merchandise
Inventory Turnover Ratio, Working Capital, Current Ratio, Acid Test Ratio, Debt Ratio,
Equity Ratio, Equity per share,
Chapter 18
 Accrual Basic of Accounting and Cash Basis of Accounting – Cash Flow Statement
 Cash In and Outflow, Operating, Investing, and Financing Activities
 Current Assets and Liabilities
Chapter 19
 Manufacturing Cost Accounting – Direct materials, Direct labor, Factory overhead, Work
in process, Finished Goods, Materials, Cost, and Finished Goods Ledgers.
Chapter 20
 Underapplied overhead, Overapplied overhead, and Statement of Cost of Goods
Manufactured
 Cash Payments, Materials Purchases, General Journals
Quarter 4:
4.1 Assess the financial condition and operating results of a company and analyze and interpret
financial statements and information to make informed decisions -Management Accounting
4.2 Planning and control principles to evaluate the performance of an organization and apply
differential analysis and present value concepts to make decisions - Manufacturing Cost
Accounting
4.3 Planning and control principles to evaluate the performance of an organization and apply
differential analysis and present value concepts to make decisions - Not-For-Profit Organization
Chapter 21
 Forming Partnerships – Cash Receipt and General Journals
 Share Equity, Goodwill and Balance Sheet
Chapter 22
 Distribution and Withdrawal of Partnership, Total Equity, Interest Rates, Interest on
Equity, Salary, Remaining Net Income/Loss, Fraction, Allowances, and Deficit.
 Liquidation of a Partnership – Realization, Assets and Liabilities, Distribution of Cash.
Chapter 23
 Not for Profit Accounting – Funds and Expenditures, Appropriation, Budgetary Funds
Balance, Tax Levy, and Encumbrance.
Chapter 24
 Worksheet – Government Organization
 Financial Statements – Statement of Revenues, Expenditures, and Changes in Fund
Balance - Budget and Actual
 Adjusting and Closing Entries for Government Fiscal Cycle.
Quickbooks Automated Accounting
 Chapters 1-24 Applications and/or Mastery Problems
 Intuit Education Program: Providing students QuickBooks Accountant with the tools and
resources needed to integrate accounting transactions and financial reports.
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
V. District-Approved Instructional Materials
Thomson South-Western Cengage Learning Advanced Century 21 SouthWestern Accounting 9E
VI. Assessment Methods
� Daily assignments
� Notebooks/Portfolios
� Writing exercises
� Cooperative learning exercises
� Projects/Demonstrations
� Quizzes
� Tests
� Self-assessment
� Observation of attitude, cooperation, and participation
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: Departmentalized Accounting (25-30 days)
Chapter One: Recording Departmental Purchases and Cash Payments
SCAN Skills:
Interpersonal Competency: Participating as a Member of a Team
Sections of Book Covered:
• 1-1 Using Accounting Principles and Records
• 1-2 Journalizing and Posting Purchases and Purchases Returns
• 1-3 Journalizing and Posting Cash Payments
Chapter Two: Recording Departmental Sales and Cash Receipts
SCAN Skills:
Basic Skill: Speaking
Sections of Book Covered:
• 2-1 Departmental Sales on Account and Sales Returns and Allowances
• 2-2 Journalizing and Posting Cash Receipts
Chapter Three: Calculating and Recording Departmental Payroll Data
SCAN Skills:
Information Competency: Using Computers to Process Information
Sections of Book Covered:
• 3-1 Completing Payroll Records for Employee
• 3-2 Recording a Payroll and Payroll Taxes
Chapter Four: Financial Reporting for a Departmentalized Business
SCAN Skills:
Resource Competency: Allocating Material and Facility Resources
Sections of Book Covered:
• 4-1 Responsibility Accounting for a Merchandising Business
• 4-2 Interim Departmental Statement of Gross Profit
• 4-3 Preparing a Work Sheet for a Departmentalized Business
• 4-4 Responsibility Statements for a Merchandising Business
• 4-5 End-of-Period Work for a Departmentalized Business
Required Activities:
• Terms Review and Audit Your Understanding
• Work Together Activities
• Application Problems (Automated Accounting)
• Mastery Problems (Automated Accounting)
Suggested Activities:
• Challenge Problem (Extra Credit)
• QuickBooks Automated Accounting (Quarter 4)
Reinforcement Activity 1: (5-7Days)
Processing and Reporting Departmentalized Accounting Data (Automated Accounting)
Audit Test at the end
Business Simulation: (12-15 Days)
Sounds, Inc. (Automated Accounting)
Audit Test at the end
Unit 2: Accounting Adjustments and Valuation (10-15 Days)
Chapter 5: A Voucher System
SCAN Skills:
Systems Competency: Understanding Systems
Sections of Book Covered:
• 5-1 Vouchers and Voucher Registers
• 5-2 Voucher Check and Check Registers
• 5-3 Selected Transactions in a Voucher System
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 5-1
• AP 5-2
• AP 5-3
• AP 5-4
Suggested Activities:
• On Your Own Activities
• MP 5-5
• CP 5-6
• Automated Accounting Activity
Chapter 6: Inventory Planning and Valuation
SCANS Skills:
Resource Competency: Allocating Time
Sections of Book Covered:
• 6-1 The Nature of Merchandise Inventory
• 6-2 Inventory Costing
• 6-3 Estimating the Inventory
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 6-1
• AP 6-2 (Automated Accounting)
• AP 6-3
• AP 6-4
Suggested Activities:
• On Your Own Activities
• MP 6-5
• CP 6-6
• Automated Accounting Activity
Unit 3: General Accounting Adjustments (25-30 Days)
Chapter 7: Accounting for Uncollectible Accounts
SCANS Skills:
Systems Competency: Improving and Designing Systems
Sections of Book Covered:
• 7-1 Direct Write-Off Method of Recording Uncollectible Accounts
• 7-2 Allowance Method of Recording Uncollectible Accounts Expense
• 7-3 Accounts Receivable Turnover Ratio
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 7-1 (Automated Accounting)
• AP 7-2
• AP 7-3
• AP 7-4 (Automated Accounting)
• AP 7-5
• AP 7-6
Suggested Activities:
• On Your Own Activities
• MP 7-7
• CP 7-8
• Automated Accounting Activity
Chapter 8: Accounting for Plant Assets
SCANS Skills:
Information Competency: Organizing and Maintaining Information
Sections of Book Covered:
• 8-1 Buying Plant Assets
• 8-2 Calculating and Journalizing Depreciation Expense
• 8-3 Disposing of Plant Assets
• 8-4 Other Methods of Depreciation
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 8-1
• AP 8-2
• AP 8-3
• AP 8-4
• AP 8-5
• AP 8-6
• AP 8-7 (Automated Accounting)
• AP 8-8
• AP 8-9
• AP 8-10
Suggested Activities:
• On Your Own Activities
• MP 8-11
• CP 8-12
• Automated Accounting Activity
Chapter 9: Accounting for Notes Payable, Prepaid Expenses, and Accrued
Expenses
SCANS Skills:
Information Competency: Interpreting and Communicating Information
Sections of Book Covered:
• 9-1 Notes Payable
• 9-2 Prepaid Expenses
• 9-3 Accrued Expenses
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 9-1 (Automated Accounting)
• AP 9-2
• AP 9-3
Suggested Activities:
• On Your Own Activities
• MP 9-4
• CP 9-5
• Automated Accounting Activity
Chapter 10: Accounting for Notes Receivable, Unearned Revenue, and
Accrued
Revenue
SCANS Skills:
Thinking Skills: Problem Solving
Sections of Book Covered:
• 10-1 Notes Receivable
• 10-2 Unearned and Accrued Revenue
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 10-1 (Automated Accounting)
• AP 10-2
• AP 10-3
Suggested Activities:
• On Your Own Activities
• MP 10-4
• CP 10-5
• Automated Accounting Activity
Unit 4: Corporation Accounting (15-20 days)
Chapter 11: Organizing a Corporation and Paying Dividends
SCANS Skills:
Basic Skills: Writing
Sections of Book Covered:
• 11-1 Starting a Corporation
• 11-2 Stock Subscriptions and the Balance Sheet
• 11-3 Calculating and Journalizing Dividends for a Corporation
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 11-1
• AP 11-2
• AP 11-3
• AP 11-4
Suggested Activities:
• On Your Own Activities
• MP 11-5
• CP 11-6
• Automated Accounting Activity
Chapter 12: Acquiring Additional Capital for a Corporation
SCANS Skills:
Thinking Skill: Reasoning
Sections of Book Covered:
• 12-1 Capital Stock Transactions
• 12-2 Treasury Stock Transactions
• 12-3 Bonds Payable Transactions
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 12-1
• AP 12-2
• AP 12-3
Suggested Activities:
• On Your Own Activities
• MP 12-4
• CP 12-5
• Automated Accounting Activity
Chapter 13: Financial Analysis and Reporting for a Corporation
SCANS Skills:
Resource Competency: Allocating Money
Sections of Book Covered:
• 13-1 Work Sheet for a Corporation
• 13-2 Financial Statements and Analysis
• 13-3 Other End of Fiscal Period Work
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 13-1
• AP 13-2
• AP 13-3
• AP 13-4
Suggested Activities:
• On Your Own Activities
• MP 13-5
• CP 13-6
• Automated Accounting Activity
Reinforcement Activity 2:
Processing and Reporting Accounting Data for a Corporation (Automated Accounting)
Unit 5: Management Accounting (30 days)
Chapter 14: Budgetary Planning and Control
SCANS Skills:
Interpersonal Competency: Teaching Others
Sections of Book Covered:
• 14-1 Budget Planning
• 14-2 Budgeted Income Statement
• 14-3 Cash Budgets and Performance Reports
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 14-1
• AP 14-2
• AP 14-3
Suggested Activities:
• On Your Own Activities
• MP 14-4
• CP 14-5
• Automated Accounting Activity
Chapter 15: Management Decisions Using Cost-Volume-Profit Analysis
SCANS Skills:
Interpersonal Competency: Serving Clients and Customers
Sections of Book Covered:
• 15-1 Cost Characteristics That Influence Decisions
• 15-2 Determining Breakeven
• 15-3 Decisions That Affect Net Income
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 15-1
• AP 15-2
• AP 15-3
• AP 15-4
• AP 15-5
Suggested Activities:
• On Your Own Activities
• MP 15-6
• CP 15-7
• Automated Accounting Activity
Chapter 16: Management Decisions Using Present-Value Analysis
SCANS Skills:
Thinking Skills: Decision Making
Sections of Book Covered:
• 16-1 Business Decisions Using Present Values
• 16-2 Present Value of Annuities
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 16-1
• AP 16-2
• AP 16-3
• AP 16-4
• AP 16-5
• AP 16-6
Suggested Activities:
• On Your Own Activities
• MP 16-7
• CP 16-8
• Automated Accounting Activity
Chapter 17: Financial Statement Analysis
SCANS Skills:
Interpersonal Competency: Exercising Leadership
Sections of Book Covered:
• 17-1 Trend Analysis and Component Percentages
• 17-2 Calculating Earnings Performance and Efficiency Analysis
• 17-3 Calculating Financial Strength Analysis
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 17-1
• AP 17-2
• AP 17-3
• AP 17-4
• AP 17-5
• AP 17-6
Suggested Activities:
• On Your Own Activities
• MP 17-7
• CP 17-8
• Automated Accounting Activity
Chapter 18: Statement of Cash Flow
SCANS Skills:
Resource Competency: Allocating Human Resources
Sections of Book Covered:
• 18-1 Understanding Cash Flow Analysis
• 18-2 Preparing the Operating Activities Section of a Statement of Cash Flows
• 18-3 Completing the Statement of Cash Flows
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 18-1
• AP 18-2
• AP 18-3
• AP 18-4
Suggested Activities:
• On Your Own Activities
• MP 18-5
• CP 18-6
• Automated Accounting Activity
Unit 6: Manufacturing Cost Accounting (10-15 days)
Chapter 19: Cost Accounting for a Manufacturing Business
SCANS Skills:
Interpersonal Competency: Negotiating
Sections of Book Covered:
• 19-1 Elements of Manufacturing Cost
• 19-2 Maintaining Manufacturing Records
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 19-1
• AP 19-2
• AP 19-3
• AP 19-4
• AP 19-5
Suggested Activities:
• On Your Own Activities
• MP 19-6
• CP 19-7
• Automated Accounting Activity
Chapter 20: Accounting Transactions and Financial Reporting for a
Manufacturing
Business
SCANS Skills:
Interpersonal Competency: Working with Cultural Diversity
Sections of Book Covered:
• 20-1 Journalizing Manufacturing Accounting Transactions
• 20-2 Preparing End-of-Fiscal Period Statements
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 20-1
• AP 20-2
• AP 20-3
Suggested Activities:
• On Your Own Activities
• MP 20-4
• CP 20-5
• Automated Accounting Activity
Unit 7: Other Accounting Systems (20-25 Days)
Chapter 21: Organizational Structure of a Partnership
SCANS Skills:
Personal Qualities: Integrity/Honesty
Sections of Book Covered:
• 21-1 Forming a Partnership
• 21-2 Admitting Partners to Existing Partnership
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 21-1
• AP 21-2
• AP 21-3
• AP 21-4
• AP 21-5
Suggested Activities:
• On Your Own Activities
• MP 21-6
• CP 21-7
• Automated Accounting Activity
Chapter 22: Financial Reporting for a Partnership
SCANS Skills:
Technology Competency: Selecting Technology
Sections of Book Covered:
• 22-1 Distribution and Withdrawal of Partnership Earnings
• 22-2 End-of-Fiscal-Period Work for a Partnership
• 22-3 Liquidation of a Partnership
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 22-1
• AP 22-2
• AP 22-3
• AP 22-4
Suggested Activities:
• On Your Own Activities
• MP 22-5
• CP 22-6
• Automated Accounting Activity
Chapter 23: Budgeting and Accounting for a Not-for-Profit
SCANS Skills:
Technology Competency: Applying Technology to Task
Sections of Book Covered:
• 23-1 Not-for-Profit Organizations
• 23-2 Journalizing Revenues
• 23-3 Journalizing Expenditures, Encumbrances, and Other Transactions
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 23-1
• AP 23-2
• AP 23-3
Suggested Activities:
• On Your Own Activities
• MP 23-4
• CP 23-5
• Automated Accounting Activity
Chapter 24: Financial Reporting for a Not-for-Profit Organization
SCANS Skills:
Personal Qualities: Self-Management
Sections of Book Covered:
• 24-1 Preparing a Work Sheet for a Governmental Organization
• 24-2 Preparing Financial Statements for a Governmental Organization
• 24-3 Recording Adjusting and Closing Entries for a Governmental Organization
Required Activities:
• Work Together Activities
• Terms Review
• Audit Your Understanding
• AP 24-1
• AP 24-2
• AP 24-3
Suggested Activities:
• On Your Own Activities
• MP 24-4
• CP 24-5
• Automated Accounting Activity
Quickbooks Automated Accounting
Intuit Education Program: Providing students QuickBooks Accountant with the tools and
resources needed to integrate accounting transactions and financial reports.
Significant Task Grading/Rubrics:
Accounting II
Sounds, Inc.
Grade Sheet Instructions
Standards:
1.1 Define accounting and explain the purpose of the accounting system.
1.2 Define the concept of generally acceptable accounting principles.
1.6 Analyze business transactions using source documents and describe the effect on the
accounting equation.
1.8 Journalize business transactions using various journal formats.
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.
1.15 Use spreadsheet and accounting software to maintain accounting records and describe the
differences between manual and computerized accounting systems.
A2.1.1 Categorize financial transactions for a departmentalized accounting system.
A2.1.2 Apply accounting control system procedures to maintain accurate records.
*** Final Audit Test – Tear out of instruction book ***
Total Daily Points: 280 points
Purchase Journal
30pts
Sales Journal
30pts
Cash Receipt Journal
30pts
Cash Payments Journal
30pts
General Journal (with adjusting & closing entries) 45pts
Schedule of Accounts Payable
5pts
Schedule of Accounts Receivable
5pts
Consolidated Gross Profit Statement (before Clos. Entries) 5pts
Payroll Report (before closing entries)
30pts
Income Statement (before closing entries)
5pts
Balance Sheet (after closing entries)
5pts
Bank Reconciliation
10pts
Pre-Audit Tests
50pts
Helpful Hints:
 Complete each audit test to use as a check point throughout the simulation
 Checks start with #801
 Form 7: Change date from Dec 1st to Dec 3rd
 Form 18: ProTech Electronics use ProTech Music on the computer system
 Form 29: Payroll Commission – Add Sales on Acct, add Cash & CC, subtract Sales Discount,
subtract Sales R&A = Net Sales (Audio & Access Separate) x 1% commission. Daniel M –
Audio, Patty S – Access. Add the commission to $800 Salary, put total in Salary column in payroll
register.
 Form 65: Ignore instruction on the Bank Statement Reconciliation do this on form 70.
 Payroll – Print Reports and Employee Lists before closing entries
 Bank Reconciliation – Checkbook Balance $67926.85 (Print right away when done)
 Print Income Statement before closing entries
Audit Test: 30 points
Accounting II
Sounds, Inc.
Grade Sheet
Total Daily Points: 280 points
1. Purchase Journal
__________30pts
2. Sales Journal
__________30pts
3. Cash Receipt Journal
__________30pts
4. Cash Payments Journal
__________30pts
5. General Journal (with adjusting & closing entries __________45pts
6. Schedule of Accounts Payable
__________5pts
7. Schedule of Accounts Receivable
__________5pts
8. Consolidated Gross Profit Statement
__________5pts
9. Income Statement (before closing entries)
__________5pts
10. Balance Sheet (after closing entries)
__________5pts
11. Payroll Report
__________30pts
12. Bank Reconciliation
__________10pts
13. Pre-Audit Tests
__________50pts
Total 280pts ____________
Audit Test: 30 points
Total 30 pts ____________
Accounting II
Reinforcement Activity #2 – Whitehurst Inc.
Standards:
3.2 Use a spreadsheet or accounting software to evaluate the impact of changes in
operating procedures, accounting methods, and estimates on the financial statements
and ratios.
3.4 Explain the importance of high ethical standards in the preparation of financial
statements.
4.1 Explain the advantages and disadvantages of the three forms of business
ownership—sole proprietorships, partnerships, and corporations.
A2.3.1 Examine the process of organizing, paying dividends, and acquiring additional capital for a
corporation.
A2.3.2 Analyze financial statements for a corporation
Computerized:
General Journal – 20 pts
Cash Payment Journal – 20 pts
Cash Receipt Journal – 20 pts
Trial Balance (For the Worksheet) – 10 pts
Adjusting Entries (Use Gen Journal) – 20 pts
Income Statement (Print before doing closing entries) – 5 pts
Balance Sheet (Print after doing the closing entries) – 5 pts
Retained Earnings (Print before & after doing the closing entries) – 5 pts
Closing Entries (Computer will do this in options for you) – 5 pts
Post- Closing Trial Balance – 10 pts
Reversing Entries (Use Gen Journal) – 15 pts
Post-Closing Trial Balance (after reversing entries) - 5pts
Textbook: (Remove from workbook)
Worksheet #3 – 40 pts Wkbk p. 106-108
Income Analysis #5 – 8pts Wkbk p. 109
Earnings Per Share #6 – 2pts Wkbk p. 109 - Preferred and Common Stock Separate
Equity Per Share #8 -2pts Wkbk p. 113 – Preferred and Common Stock Separate
(Stockholder’s Equity – get number from Balance Sheet)
Price – Earnings Ration #9 -1pt Wkbk p. 113
Accounts Receivable Turnover Ratio #10a -2pts Wkbk p. 115 (Net Sales on Acct number
get from p. 405 adjusting information)
Rate Earned on Average Stockholders’ Equity #10b -2pts Wkbk p. 115 (Dec 31
Stockholder’s Equity number get from Balance Sheet)
Rate Earned on Average Total Assets #10c -2pts Wkbk p. 115
Audit Test: 31 pts
Total Daily Points: 199 pts
Significant Task: Audit Test
See attachment – Sounds Inc. Simulation and Reinforcement Activity #2