advanced accounting ii--assignments accounting ii...advanced accounting ii--assignments . sept. 8,...

Due Date Assignment

Sept. 2, 2014

Complete introductory material--seating chart, textbook, workbook, computer Read pages xiv-xxv Create a document for the Introduction (define all terms listed on p. xiv--12 terms; answer questions on p. xv—2 questions—complete sentence for answer) Answer the following questions in complete sentence format:

1. What are your current career plans? 2. What additional education, if any, will you need to plan for your career choice?

Sept. 3,2014

Read pages 2-11 (Chapter 1, Topic 1) Create a document for terms (definitions) = 25, audits (answered in complete sentence format) = 8, any presented concepts within the topic = 3, and the questions on p. 5. = 3—HAND IN Complete the following workbook material:

1-1 Work Together, TB p. 11 and WB p. 1—HAND IN 1-1 On Your Own, TB p. 11 and WB p. 1—HAND IN

1-1 Application Problem, TB p. 29 and WB p. 11—HAND IN Answer the following questions:--HAND IN

1. Based on the material read on p. 4, why would a large clothing store with separate men’s, women’s, and children’s departments be interested in knowing how well each department is doing? What types of information should be collected about each department?

2. Based on personal knowledge, previous material in textbook, and/or research, what are the differences between a CPA and a senior accountant?

3. Based on the chart of accounts on p. 3, explain the purpose of each digit of the numbering system.

Sept. 4, 2014

Topics 2 and 3 1-2 Work Together, TB p. 19 and WB p. 3-6—HAND IN 1-2 On Your Own, TB p. 19 and WB p. 3-6—HAND IN 1-2 Application Problem, TB p. 29 and WB p. 13-16—HAND IN 1-3 Work Together, TB p. 27 and WB p. 7-10—HAND IN 1-3 On Your Own, TB p. 27 and WB p. 7-10—HAND IN

1-3 Application Problem, TB p. 30 and WB p. 17-20—HAND IN

Sept. 5, 2014

1-4 Application, TB p. 30 and WB pp. 21-22—HAND IN 1-5 Mastery, TB p. 31 and WB pp. 23-26—HAND IN Study Guide—HAND IN Recycling—HAND IN Test Tomorrow

ADVANCED ACCOUNTING II--ASSIGNMENTS

Sept. 8, 2014

7 minutes Ch7 7 minutes to review Chapter 1 material Staple and hand in all daily work (daily work is 10% of the entire term grade)—Terms/ Audits/Concepts, all questions, Study Guide, Recycling, and WB pp. 1-26. All material must be in order. Toss WB pp. 27-28. Complete Chapter 1 test—HAND IN Homework: Read pages 38-54 (Chapter 2) Create a document for Chapter 2 terms (definitions) (2), audits (answered in complete sentence format) (4), any presented concepts within the topic (3), and the questions on p. 39 (3).—HAND IN

Sept. 9, 2014

Answer the following questions—HAND IN 1. What is the current sales tax in Brown County? 2. Based on p. 39 material—How might a controller relate with company

departments other than sales? 3. Why do all businesses and nonprofit companies have a federal tax identification

number? 4. What is a contra account? 5. What is the order of posting from journals? 6. Based on p. 53 material—Research the terms at the bottom of the second

column, tell what the initials represent, and what the actual terms involve. 2-1 Work Together and On Your Own, WB pp. 29-32 and TB p. 47--HAND IN 2-1 Application, WB pp. 37-40, TB p. 56—HAND IN

Sept. 10, 2014

2-2 Work Together and On Your Own, WB pp. 33-36 and TB p. 54—HAND IN 2-2 Application, WB pp. 41-44, TB p. 56—HAND IN 2-3 Mastery, WB pp. 45-46, TB p. 58—HAND IN

Sept. 11, 2014

2-4 Challenge, WB pp. 47-48, TB p. 59—HAND IN Study guide 2—HAND IN 2-R Recycling Problem—handout and p. C-2—HAND IN Test tomorrow

Sept. 12, 2014

Review for 7 minutes Chapter 2 material Staple and hand in all daily work (daily work is 10% of the entire term grade)—Terms(2)/Audits(4)/Concepts(3)/Critical Thinking (3), all questions (6), Study guide, Recycling, and WB pp. 29-48. All material must be in order. Complete Chapter 2 test—HAND IN Homework: Read pages 62-85 (Chapter 3) Create a document for Chapter 3 terms (definitions), audits (answered in complete sentence format), any presented concepts within the topic, and the questions on p. 63.—HAND IN

Sept. 15, 2014

Answer the following questions—HAND IN 1. Identify the types of benefits you expect to receive on your first full-time job. 2. Based on p. 63 material—What kind of education and experience would be

required for a payroll and benefits analyst? 3. Based on p. 63 material—What roadblocks might Nancy face when she

recommends a new plan? 4. Briefly summarize the procedure for calculating regular, overtime, and total hours. 5. Briefly summarize the procedure for calculating regular, overtime, and total

earnings. 6. What three federal taxes are required by law to be withheld from each employee’s

pay? 7. Explain how to prove the totals of the Total Deductions column and the Net Pay

column. 8. Explain what advantages EFT (electronic funds transfer) provides for the employer

who arranges to have payroll amounts electronically transferred to employee bank accounts.

Sept. 16, 2014

3-1 Work Together and On Your Own, WB pp. 49-52 and TB pp. 69-70--HAND IN 3-1 Application, WB pp. 65-66, TB p. 86—HAND IN 3-2 Work Together and On Your Own, WB pp. 53-60 and TB p. 77--HAND IN 3-2 Application, WB pp. 67-70, TB p. 84—HAND IN 3-3 Work Together and On Your Own, WB pp. 61-64 and TB p. 84--HAND IN 3-3 Application, WB pp. 71-72, TB p. 86—HAND IN

Sept. 17, 2014 3-4, 3-5, 3-6, 3-7 Applications, WB pp. 73-80, TB p. 87—HAND IN

Sept. 18, 19 & 22, 2014 3-8 Mastery, WB pp. 81-92, TB p. 88—HAND IN

Sept. 23, 2014

3-9 Challenge, WB pp. 93-94, TB p. 90—HAND IN Study Guide 3—HAND IN 3-R Recycling Problem—handout and pp. C-3 to C-4—HAND IN Test tomorrow

Sept. 24, 2014

Review for 7 minutes Chapter 3 material Paperclip and hand in all daily work (daily work is 10% of the entire term grade)—Terms/ Audits/Critical Thinking/Concepts, all questions, Study Guide, Recycling, and WB pp. 49-94. All material must be in order. Complete Chapter 3 test—HAND IN Homework: Read pages 94-125 (Chapter 4) Create a document for Chapter 4 terms (23--definitions), audits (13--answered in complete sentence format), any presented concepts within the topic (4--definition or give an example), and the questions on p. 95 (2—answered in complete sentence format).—HAND IN

Sept. 25, 2014

Answer the following questions—HAND IN 1. Why are financial statements prepared by a business? 2. How often should financial statements be prepared? 3. For tax purposes, how often must businesses prepare financial statements?

4. Based on p. 95 material—What kind of background and experience might be required of an individual to be a departmental manager at Glamour Walls?

5. What kind of personal attributes would be considered desirable when promoting an individual to department manager?

6. How would you document the previously mentioned attributes? 7. Why is the cost of merchandise sold figure critical to a merchandising business? 8. What amount must be larger than total operating expenses in order to produce a

net income? 9. How is the cost of merchandise sold percentage and the gross profit percentage

calculated? 10. Why are component percentages useful to a business? 11. How can the net loss be verified on a worksheet? 12. Explain the rounding process (when doing mathematical calculations). 13. What is the purpose of the statement of stockholders equity? 14. What is the impact of net income and net loss on retained earnings? 15. Describe what a dividend is and what its impact is on retained earnings. 16. What is the difference between plant assets and current assets? 17. Information for the preparation of the balance sheet are obtained from two

sources. What are they? 4-1 Work Together and On Your Own, WB pp. 95-98 and TB pp. 100-101--HAND IN 4-1 Application, WB pp. 115, TB p. 126—HAND IN

Sept. 26 and Sept. 29, 2014

4-2 Work Together and On Your Own, WB pp. 99-102, and TB p. 111--HAND IN 4-2 Application, WB pp. 117-118, TB p. 126—HAND IN 4-3 Application, WB pp. 119-120, TB pp. 126-127—HAND IN 4-3 Work Together and On Your Own, WB pp. 103-110, and TB p. 118--HAND IN 4-4 Application, WB pp. 117-118, TB p. 127—HAND IN 4-5 Application, WB pp. 123-126, TB p. 128—HAND IN

Sept. 30, 2014

4-4 Work Together and On Your Own, WB pp. 111-114, and TB p. 124--HAND IN 4-6 Application, WB pp. 127-132, TB p. 128—HAND IN 4-7 Application, WB pp. 133-134, TB p. 129—HAND IN

Oct. 1 and 2, 2014 4-8 Mastery, WB pp. 135-144, TB pp. 129-130—HAND IN

Oct. 6 and 7, 2014

4-9 Challenge, WB pp. 145-148, TB p. 130—HAND IN Study Guide 4—HAND IN 4-R Recycling Problem—handout and pp. C-4 to C-6—HAND IN Test tomorrow

Oct. 8, 2014

Review for 7 minutes Chapter 4 material Paperclip and hand in all daily work (daily work is 10% of the entire term grade)—Terms/ Audits/Critical Thinking/Concepts, all questions, Study Guide, Recycling, and WB pp. 95-148. All material must be in order. Complete Chapter 4 test—HAND IN

Oct. 9 thru Oct. 15 (five school days)

Term Assessment – Reinforcement Activity Textbook is allowed. All work must be completed in class ON YOUR OWN. No collaborating with other students.

Oct. 16, 2014

Complete any material for Term Assessment Homework: Read pages 144-159 (Chapter 5) Create a document for Chapter 5 terms (5--definitions), audits (9--answered in complete sentence format), any presented concepts within the topic (1--definition or give an example), and the questions on p. 145 (2—answered in complete sentence format).—HAND IN

Oct. 17, 2014

Answer the following questions—HAND IN

1. Based on p. 145 material–Describe a procedure that LaWanda should use to determine if she should pay the unapproved vouchers.

2. Is it LaWanda’s responsibility to try to avoid this situation in the future? 3. How does a company decide what special columns to use in a voucher register or

any other special journal? 4. How are purchases returns and allowances recorded by a business that does not

use a voucher system? 5. Based on p. 159 material—Why are internal controls important? Who are they

designed to protect? 5-1 Work Together and On Your Own, WB pp. 179-186 and TB p. 150--HAND IN 5-1 Application, WB pp. 199-202, TB p. 160—HAND IN

Oct. 20, 2014

5-2 Work Together and On Your Own, WB pp. 187-190, and TB p. 154--HAND IN 5-2 Application, WB pp. 203-204, TB p. 160—HAND IN 5-3 Work Together and On Your Own, WB pp. 191-198, and TB p. 158--HAND IN 5-3 Application, WB pp. 205-208, TB p. 161—HAND IN 5-4 Application, WB pp. 209-212, TB p. 161—HAND IN

Oct. 21, 2014

5-5 Mastery, WB pp. 213-216, TB pp. 162—HAND IN 5-6 Challenge, WB pp. 217-220, TB p. 162—HAND IN Study Guide 5—HAND IN 5-R Recycling Problem—handout and p. C-6—HAND IN Test tomorrow

Oct. 22, 2014


Oct. 27, 2014

Answer the following questions—HAND IN 1. Why is it important to be able to determine the items of inventory that are selling

well and those that are not selling well? 2. What are two advantages of computerized inventory systems? 3. Based on p. 167 material—What kind of education and experience does Thomas

Reynolds need to be a tax accountant? 4. What kind of personal qualities are desirable in a tax accountant? 5. List the kinds of information about a specific item of inventory that is needed to

maintain an inventory system. 6. What is the difference between FOB Shipping Point and FOB Destination? 7. Why would a business want to report a lower net income?

6-1 Work Together and On Your Own, WB pp. 221-222 and TB p. 172--HAND IN 6-1 Application, WB pp. 229-230, TB p. 185—HAND IN

Oct. 28, 2014


Oct. 29, 2014

6-5 Mastery, WB pp. 237-238, TB pp. 187—HAND IN 6-6 Challenge, WB pp. 239-240, TB p. 188—HAND IN Study Guide 6—HAND IN 6-R Recycling Problem—handout and p. C-6 to C-7—HAND IN Test tomorrow

Oct. 30, 2014


Oct. 31, 2014 Last graded material of Term 1.

Do the spreadsheet tables per requirements on p. 182

Nov. 3, 2014 This material starts Term 2.

Answer the following questions—HAND IN 1. Based on p. 195 material–What kind of education and experience would Anthony

Galina need to be a controller? 2. Before SuperMicro grew to the size that required the services of a full-time

controller, what could its owners have done to obtain the necessary accounting help?

3. What kinds of personal qualities are desirable in a controller? 4. Identify businesses in our community that are likely to make sales on account. 5. Based on p. 196 material—What is one method that businesses can use to

evaluate whether a business should sell to a customer on account? 6. Why are two journal entries required when a written off account is collected? 7. Assume that you are the manager of a business—Under what circumstances, if

any, would you again see to a person whose account had previously been written off?

8. The Matching Expenses with Revenues concept suggests that the expense of an uncollectible account should be recognized in the same fiscal period the sale on account is recorded. How can that be accomplished for a sale on the last day of the fiscal year?

9. Identify the two methods for estimating uncollectible accounts. 10. Describe the assumption that supports each of the two methods to estimate

uncollectible accounts. 11. Identify the name of the contra account used to record the uncollectible accounts

expense. 12. Identify the factors that might influence a business to increase or decrease the

percentage from the amount indicated from past experience. 13. Identify two explanations for the prior balance of Allowance for Uncollectible

Accounts. 14. How can net sales on account be used in the estimate calculation? 15. What is the natural balance for Allowance for Uncollectible Accounts? 16. Based on p. 201—Research foreign business introduction. Find the appropriate

introduction for meeting someone from five different countries. 17. Compare how writing off an account affects Uncollectible Accounts Expense using

the direct and allowance methods. 18. Based on p. 203—What factors must a manager consider when setting credit

policies? 19. Create a table that lists each method for computing uncollectible accounts

expense. Identify the positive and negative features of each method. If you were managing a company, which method would you use?

20. Does an increase in the accounts receivable turnover ratio indicate a positive or negative trend?

21. Does an increase in the days for payment indicate a positive or negative trend? 22. What are the steps to improve the collection of accounts receivable? 23. What are some alternative amounts that can be used to compute these ratios? 24. Briefly explain how to interpret the accounts receivable turnover ratio and the

number of days for payment. 7-1 Work Together and On Your Own, WB pp. 241-244 and TB p. 198--HAND IN

7-1 Application, WB pp. 253-254, TB p. 210—HAND IN

Nov. 4 and 5, 2014


Nov. 6, 2014

7-5 Application, WB pp. 261-262, TB p. 211—HAND IN 7-6 Application, WB pp. 263-264, TB p. 212—HAND IN 7-7 Mastery, WB pp. 265-266, TB pp. 212—HAND IN 7-8 Challenge, WB pp. 267-268, TB p. 213—HAND IN Study Guide 7—HAND IN 7-R Recycling Problem—handout and p. C-7 to C-8—HAND IN Test tomorrow

Nov. 7, 2014


Nov. 10, 2014

Answer the following questions—HAND IN 1. Based on p. 217 material–What kind of education and experience Tamara

Thompson would need to be a plant assets manager? 2. What kinds of personal qualities are desirable of a plant asset manager? 3. Identify ten types of plant assets required to run Denmark High School (including

athletics, band, administration, and maintenance departments). 4. How are individual prices determined for land and a building purchased together? 5. Identify when information is recorded in each of the three sections of a plant asset

record. 6. Why is the purchase of office equipment recorded in a general journal rather than

a cash payments journal? 7. How do you distinguish between merchandise inventory and plant assets? 8. Identify the information needed to calculate property taxes. 9. Explain how the estimated total depreciation expense is calculated. 10. How can you determine the accuracy of the annual depreciation expense and book

values calculations? 11. Identify two methods to calculate book value. 12. How many months of depreciation would be calculated for a plant asset purchased

on April 4? May 25? December 20? 13. Describe the depreciation expense of a discarded plant asset. 14. Why are two journal entries recorded to discard a plant asset? 15. Describe how to determine the loss on the disposal of a plant asset. 16. Explain why Loss on Plant Assets is not classified as an operating expense.

17. Explain how the declining-balance rate is calculated. 18. Identify the basis for depreciation using the production-unit method. 19. Why do the rates for a 5-year property extend over 6 years (using MACRS)? 20. Explain how the depreciation rate per unit is calculated.


Nov. 11, 2014

8-2 Work Together and On Your Own, WB pp. 269-276, and TB p. 226--HAND IN 8-2 Application, WB pp. 293-294, TB p. 243—HAND IN 8-3 Work Together and On Your Own, WB pp. 277-284, and TB p. 233--HAND IN

Nov. 12, 2014

8-4 Work Together and On Your Own, WB pp. 285-288, and TB p. 240--HAND IN 8-3 Application, WB pp. 295-296, TB p. 243—HAND IN 8-4 Application, WB pp. 297-298, TB p. 244—HAND IN 8-5 Application, WB pp. 299-300, TB p. 244—HAND IN

Nov. 13, 2014

8-6 Application, WB pp. 301-302, TB p. 245—HAND IN 8-7 Application, WB pp. 303-304, TB p. 245—HAND IN 8-8 Application, WB pp. 305, TB p. 245—HAND IN 8-9 Application, WB pp. 306-307, TB p. 246—HAND IN 8-10 Application, WB pp. 308, TB p. 246—HAND IN

Nov. 14, 2014

8-11 Mastery, WB pp. 309-314, TB pp. 246—HAND IN 8-12 Challenge, WB pp. 315-316, TB p. 247—HAND IN

Nov. 17, 2014

Study Guide 8—HAND IN 8-R1, R2, and R3 Recycling Problems—handout and p. C-8 to C-9—HAND IN Test tomorrow

Nov. 18, 2014


Nov. 20, 2013

Answer the following questions—HAND IN 1. Based on p. 251 material–What kind of education and experience should Toby

Jenkins need to be a finance manager? 2. What kind of personal qualities are desirable of a finance manager? 3. Why is Interest Expense classified as an other expense? 4. Read the FYI on p. 254 and explain how to account for notes that require monthly

interest payments. 5. Describe how to calculate interest expense for a fraction of a year. 6. According to what you read on p. 256, is copy paper merchandise inventory or

supplies for an office supplies business?

7. List the pros and cons of the different methods to account for prepaid expenses. Which one do you prefer? Which method is easier to record? Easier to understand? Results in more accurate financial statements?

8. Explain why interest is accrued on a note payable that matures in the next fiscal period.

9. Explain how reversing a prepaid expense differs from reversing an accrued liability. 10. Explain why the reversing entry results in a credit balance in interest expense. 11. How would a person determine the amounts and accounts of a reversing entry? 12. Explain why the salary expense accounts have a credit balance after the adjusting

entry is recorded. 13. According to the FYI on p. 265, what is another reason why reversing entries are

recorded? 14. What is the benefit of using a reversing entry?


Nov. 24, 2014

9-2 Work Together and On Your Own, WB pp. 321-324, and TB p. 261--HAND IN 9-2 Application, WB pp. 331-332, TB p. 270—HAND IN 9-3 Work Together and On Your Own, WB pp. 325-328, and TB p. 268--HAND IN 9-3 Application, WB pp. 333-334, TB p. 271—HAND IN

Nov. 25 and Dec. 1, 2014

9-4 Mastery, WB pp. 335-338, TB pp. 271—HAND IN 9-5 Challenge, WB pp. 339-342, TB p. 272—HAND IN

Dec. 2, 2014

Study Guide 9—HAND IN 9-R Recycling Problems—handout and p. C-9—HAND IN Test tomorrow

Dec. 3, 2014


Dec. 4, 2014

Answer the following questions—HAND IN 1. Identify transactions where the economic event (a sale or expense) occurs in one

fiscal period and cash is exchanged in the later fiscal period. 2. Based on p. 277 material—what kinds of education and experience would Ted

Matthews need to be an accounting manager? 3. What kinds of personal qualities are desirable of an accounting manager? 4. Explain when a sale on account is recorded on a cash receipts or sales journal. 5. Explain why interest income is classified as “other” revenue. 6. According to the FYI material on p. 279, why might a business issue notes

receivables to employees? 7. Based on p. 283 material—explain the meaning of a $4,000 balance in Unearned

Rent. 8. Explain why Rent Income is classified as an Other Revenue. 9. Explain the difference between accruing interest expense and interest income.


Dec. 5, 2014

10-2 Work Together and On Your Own, WB pp. 347-350, and TB pp. 287-288--HAND IN 10-2 Application, WB pp. 355-356, TB p. 290—HAND IN 10-3 Application, WB pp. 257-258, TB p. 290—HAND IN Note: “X” out WB pp. 351-352; these pages will be handed in with the daily work

Dec. 8, 2014

10-4 Mastery, WB pp. 359-360, TB pp. 291—HAND IN 10-5 Challenge, WB pp. 361-362, TB p. 291—HAND IN Study Guide 10—HAND IN 10-R Recycling Problems—handout and p. C-10—HAND IN Test tomorrow

Dec. 9, 2014

Review for 7 minutes Chapter 10 material Paperclip and hand in all daily work (daily work is 10% of the entire term grade)—Terms/ Audits/Critical Thinking/Concepts, all questions, Study Guide, Recycling, and WB pp. 343-362. All material must be in order. Complete Chapter 10 test—HAND IN

Dec. 10-23, 2014 (10 school days)

Simulation done in class (not taken home); testing work stations; on own; may listen to music as long as you have headphones. As of this time, the simulation is SOUNDS, INC.

SOUNDS, INC. SIMULATION TIME LINE

Day 1: Forms 1-15; Posting Day 2: Forms 16-30; Posting Day 3: Forms 31-45; Posting Day 4: Forms 46-60; Posting Day 5: Forms 61-75; Posting Days 6, 7, 8, and 9: Instructions that start in the second column (and continue on the back) of Instruction Sheet 5 Day 10: Audit Test (able to use simulation to answer these questions)

Jan. 5, 2015 Term Exam—The audit of the simulation

Jan. 6-8, 2015

AUTOMATED ACCOUNTING Chapter 10—Payroll NOTES TO ME: New textbook, collect old textbook, ask tech support to give them access to the accounting program

Jan. 9-12, 2015 AUTOMATED ACCOUNTING Chapter 11—Inventory

Jan. 13-19, 2015 AUTOMATED ACCOUNTING Chapter 12—Sales Order Processing

Jan. 20-21, 2015 AUTOMATED ACCOUNTING Chapter 13—Accounting System Setup

advanced accounting ii--assignments accounting ii...advanced accounting ii--assignments . sept. 8,...

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