This preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
Unformatted text preview: CHAPTER 3 Processing Accounting Information OVERVIEW OF EXERCISES, PROBLEMS, AND CASES Estimated Time in Learning Outcomes Exercises Minutes Level 1. Explain the difference between an external and internal event. 1 10 Easy 2. Explain the role of source documents in an accounting system. 2 10 Easy 3. Analyze the effects of transactions on the accounting equation 3 15 Mod and understand how those transactions affect the balance 4 15 Mod sheet and the income statement. 9* 20 Mod 11* 10 Mod 12* 10 Easy 13* 20 Mod 14* 30 Mod 4. Define the concept of a general ledger and understand the 5 10 Easy use of the T account as a method for analyzing transactions. 9* 20 Mod 10* 10 Mod 11* 10 Mod 12* 10 Easy 5. Explain the rules of debits and credits. 6 10 Easy 7 10 Diff 9* 20 Mod 11* 10 Mod 12* 10 Easy 13* 20 Mod 14* 30 Mod 15* 15 Mod 6. Explain the purposes of a journal and the posting process. 13* 20 Mod 14* 30 Mod 15* 15 Mod 7. Explain the purpose of a trial balance. 8 25 Mod 10* 10 Mod *Exercise, problem, or case covers two or more learning outcomes Level = Difficulty levels: Easy; Moderate (Mod); Difficult (Diff) 31 32 FINANCIAL ACCOUNTING SOLUTIONS MANUAL Problems Estimated and Time in Learning Outcomes Alternates Minutes Level 1. Explain the difference between an external and internal event. 1 20 Easy 5* 45 Mod 2. Explain the role of source documents in an accounting system. 5* 45 Mod 3. Analyze the effects of transactions on the accounting equation 2 60 Mod and understand how those transactions affect the balance 3 60 Mod sheet and the income statement. 4 60 Diff 6* 20 Mod 7* 60 Mod 9* 30 Mod 10* 45 Mod 11* 30 Diff 12* 75 Mod 13* 75 Mod 4. Define the concept of a general ledger and understand the 7* 60 Mod use of the T account as a method for analyzing transactions. 8* 60 Mod 10* 45 Mod 11** 30 Diff 5. Explain the rules of debits and credits. 6* 20 Mod 7* 60 Mod 9* 30 Mod 10* 45 Mod 11* 30 Diff 12* 75 Mod 13* 75 Mod 6. Explain the purposes of a journal and the posting process. 9* 30 Mod 12* 75 Mod 13* 75 Mod 7. Explain the purpose of a trial balance. 8* 60 Mod 10* 45 Mod 11* 30 Diff 12*# 75 Mod 13*# 75 Mod *Exercise, problem, or case covers two or more learning outcomes **Alternate problem only #Original problem only Level = Difficulty levels: Easy; Moderate (Mod); Difficult (Diff) CHAPTER 3 • PROCESSING ACCOUNTING INFORMATION 33 Estimated Time in Learning Outcomes Cases Minutes Level 1. Explain the difference between an external and internal event. 3* 20 Mod 2. Explain the role of source documents in an accounting system. 4* 60 Diff 3. Analyze the effects of transactions on the accounting equation 2* 15 Mod and understand how those transactions affect the balance 3* 20 Mod sheet and the income statement. 4* 60 Diff 5* 60 Mod 6* 30 Mod 4. Define the concept of a general ledger and understand the use 1 20 Mod of the Taccount as a method for analyzing transactions....
View
Full
Document
This note was uploaded on 09/28/2008 for the course ACCT 151 taught by Professor Largay during the Spring '07 term at Lehigh University .
 Spring '07
 Largay
 Accounting, Financial Accounting

Click to edit the document details