I.  Final Exam Part 1 – Multiple Choice on iLearn II.  Complete evaluation once you have finished III.  Exam Part 2 & 3 Tomorrow (Tuesday) Part 2 – Journal Entries Part 3 – Financial Statements (B/S or I/S) IV. Review on Aplia

I.  Bellwork  A.  Explain what is the most difficult part (procedure/classwork) of this class for you. B. Explain what is the easiest part (procedure/classwork)of this class for you. II.  Objectives Apply various accounting concepts and terminology to review for final exam. Analyze and interpret financial information using proper accounting procedures to record adjusting , prepare […]

I.  Bellwork A.  Use the Internet to research  2 listings for entry level CPA jobs in Michigan. What are the education and experience requirements of each What is the salary for each II.  Objective: Complete a worksheet using proper procedures, making adjustments, and determining Net income/loss Interpret information from a worksheet and construct financial statement […]

I.  Bellwork .Page 237 Q&A 1-2 Show your work II.  Objective: Complete a worksheet using proper procedures, making adjustments, and determining Net income/loss Interpret information from a worksheet and construct financial statement in accordance with GAAP Journalize and post closing entries for a service business organized as a proprietorship Prepare a post-closing trial balance in […]

I.  Bellwork Page 236 Auditing for Errors Explain and list the errors (5) II.  Objectives Journalize and post closing entries for a service business organized as a proprietorship Prepare a post-closing trial balance in accordance to GAAP apply accounting terminology related t closing entries .III.  Chapter 8 exam ILearn Multiple Choice Aplila – Application

I.  Bellwork Q&A What account classifications (2) are closed to Income Summary? What accounts (2) are closed to the Capital account? What are the 3 classifications of accounts listed on the post-closing trial balance? II.  Objectives Review and apply terminology and concepts related to closing entries and the post-closing trial balance as presented in the […]

I.  Bellwork Page 230 1-4 Q&A II. Objectives Journalize and post closing entries for a service business organized as a proprietorship Use ledger balances to prepare a post-closing trial balance in accordance to GAAP III.  Notebook – Copy P227 Sequence map – Preparing a Post Closing Trial Balance 8-Steps IV.  Classwork Aplia – Application Problem […]

I. Bellwork Page 222 Q&A 1-3 II.  Objectives Prepare a post-closing trial balance in accordance to GAAP Create a sequence map based upon information in the text to explain the steps required to correctly prepare a post-closing trial balance III.  Discussion/Notebook   Recording Closing Entries p. 223-230 IV.  Notebook Sequence map – Preparing a Post […]

I.  Bellwork A.  Page 214 Q&A Explain how the Concept of Accounting Cycle Period relates to closing entries. Explain how the Concept of Matching Expenses with Revenue Relates to closing entries. II.  Objectives Journalize and post closing entries for a service business organized as a proprietorship. Explain the need for post-closing entries and demonstrate the […]

I.  Bellwork Page 217 Critical Thinking 1-2 Q&A II.  Objectives . Journalize and post closing entries for a service business organized as a proprietorship Explain the need for post-closing entries and demonstrate the process. III.  Discussion/Notebook A.    Recording Closing Entries p. 214 Accounting Cycle Permanent & Temporary Accounts Matching Expenses with Revenue – Closing […]