Dec 05

Accounting – 12/06/19

I. Bellwork: Pay Bills & Update Spreadsheet

II. Objectives:

  • Explain how Direct student loan proceeds are disbursed.
  • Understand how to get a Direct federal student loan.
  • Evaluate the consequences of student loan delinquency and default.
  • Distinguish between revolving and term loans.
  • Compare and contrast fixed and variable rate loans.
  • Understand the benefits and drawbacks of credit cards.
  • Identify other costs associated with a mortgage

III. Turn in Homework

IV. Classwork

Take Quizzes

  • (CW9) Personal Income Taxes and Forms
  • (CW8) Investments

V. Homework: MindTap Mastery Problem 9M

VI. Chapter 6 Test Tuesday

Dec 04

Accounting – 12/05/19

I. Bellwork

Page 182 – Explore Accounting:  Fiscal Periods

  • Make your recommendation and support it with your explanation.

II.  Objectives:

  • Complete a worksheet using proper procedures, making adjustments, and determining Net income/loss
  • Compare and contrast net income and net loss through class discussion, text information and construction of a double bubble
  • Discuss the importance of choosing a fiscal period that is based upon cycles in a business.

IV.  Class work:

  • 6M Pages 184-185
  • Additional Worksheet (Net Loss) on Google Classroom
Dec 03

Accounting – 12/04/19

I.  Bellwork On Google Classroom

II.  Objectives

  • Journalize and post the adjusting entries for supplies and prepaid insurance.
  • Explain the necessity and the steps in journalizing adjusting entries while completing a sequence map

III.  Discussion/Notebook Work

  • Adjusting entries and why they are necessary
  • Sequence Map

IV.  Classwork:

On MindTap

  • Working Together & On Your Own (p. 179).
  • Application Problem 6-4 (p. 184).
Dec 02

Accounting – 12/03/19

I.   Bellwork Q&A

  1. What classification of accounts are include on the balance sheet columns of the worksheet? (3)
  2.  What classification of accounts are include on the income statement columns of the worksheet? (2)

II. Objectives:

  • Prepare the Balance Sheet and Income Statement columns of a worksheet.
  • Total and rule the worksheet.
  • Follow and apply the steps for finding errors on a worksheet

III. Discussion/Notebook Work

  • Tree Map – Worksheet, Columns & Accounts

IV.  Classwork:

A.  Working Together(p. 175).

B.  Apilia:

  • 6-3 Working Together & On Your Own
  • Application Problem 6-3 (p. 183)
Dec 02

Accounting – 12/02/19

I.  Bellwork

  • Budget Challenge – Pay Bills

II. Objectives:

  • Determine which accounts appear on the Balance Sheet and Income Statement columns of a worksheet.
  • Explain the purpose of the Balance Sheet and Income Statement 
  • Discuss the steps for finding errors on a worksheet

III.  Discussion/Notebook Work

A.  Explain the purpose of the financial statements:

  • balance sheet
  • income statement

B.  Determining and Recording income statement and balance sheet account balances  on a worksheet

  • PPT 6-3
  • On iLearn:  Drill 7-D1 & 7-D2 

C.  Net Loss or Net Income

D.  Correcting Errors

IV. Classwork

  • Page 175 Vocabulary (5) & 1-5 Q&A
Nov 25

Accounting – 11/26/19

I.  Bellwork

  • Budget Challenge Quiz and Check

II Objectives:

  • Analyze and explain the adjustments for supplies and prepaid insurance.
  • Explain and create a sequence map demonstrating the four questions to ask  when recording adjusting entries on a worksheet
  • Apply the proper procedures to record and complete the Adjustments columns of a worksheet.

III.  Discussion/Notebook Work

  • Matching Revenue with Expenses & Accrual basis accounting
  • Need for Adjustments
  • Four Questions Map
  • Formula for determining adjustments to Supplies & Prepaid Insurance

IV.   Classwork:

  • Working Together & On Your Own (p. 168).
  • Application Problem 6-2 (p. 183)
  • Aplia: 6-2 OYO & Working Together
Nov 24

Accounting – 11/25/19

I.   Bellwork

  • Page 157 1-2 Q&A

II.   Objectives:

  • Prepare the heading of a worksheet demonstrating proper format .
  • Create a sequence map demonstrating the six-step process for preparing a trial balance on a worksheet and utilize the procedures to prepare the trial balance section of a work sheet .
  • Discuss the importance of Consistent Reporting and Accounting Cycle/Fiscal Period

III.  Discussion/Notebook Work

  • Consistent Report –  meaning & importance
  • Fiscal Period – meaning & importance
  • Trial Balance Sequence Map p. 160

IV.   Classwork:

  • Working Together & On Your Own (p. 162).
  • Application Problem 6-1 (p. 183).
Nov 21

Accounting – 11/21/19

I.  Bellwork:  

A.  Internet Search:  Accounting Control – Segregation of Duties

  1. Explain the concept of segregation of duties in accounting.
  2. Provide an example of segregation of duties in accounting
  3. Explain why is segregation of duties is important to a business.

II  Objectives:

  • Interpret, analyze, and journalize financial transactions in accordance with Generally Accepted Accounting Procedures.
  • Post from the General journal to the general ledger accounts

III.  Classwork:  Finish Today

  • Pages 154 -155 Reinforcement Activity – Part 1
  • Aug 19 – Aug 31 – Post all the entries on page to to the ledger
Nov 19

Accounting – 11/20/19

i.  Bellwork

  • Page 152 Analyzing Nike’s Financial Statements  Q&A 1-2

II.  Objectives:

  • Interpret, analyze, and journalize financial transactions in accordance with Generally Accepted Accounting Procedures.
  • Maintain and monitor a general ledger accounts
  • Prepare a bank statement reconciliation
  • Follow and apply multi-step procedures when performing accounting  tasks; based on explanations in the text and GAAP.

III.  Classwork:  Pages 154 -155 Reinforcement Activity – Part 1

  • Journalize & Post Aug 19-Aug 31
  • Prepare Bank reconciliation
  • Tomorrow is the last day to do it in class
Nov 18

Accounting – 11/19/19

I.   Bellwork:

  • Budget Challenge

II. Objectives:

  • Interpret, analyze, and journalize financial transactions  in accordance with General Accepted Accounting Procedures.
  • Post, maintain, and monitor a general ledger accounts
  • Follow and apply multi-step procedures when performing accounting  tasks; based on explanations in the text and GAAP.

III.  Classwork:  input on MindTap

Pages 154 -155 Reinforcement Activity – Part 1

  • Journalize all the transactions into the general ledger for transaction dated August 1-28
    • Turn in your General Journal