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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....
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 Spring '07
 Largay
 Accounting, Financial Accounting

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