ch03 - CHAPTER 3 Adjusting the Accounts ASSIGNMENT...

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3-1 CHAPTER 3 Adjusting the Accounts ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems * 1. Explain the time period assumption. 1, 2 * 2. Explain the accrual basis of accounting. 3, 4, 5 1, 6 * 3. Explain why adjusting entries are needed. 1, 6, 7 1 * 4. Identify the major types of adjusting entries. 8, 9, 10, 18 2, 8 2, 7 * 5. Prepare adjusting entries for prepayments. 8, 9, 10, 11, 12, 13, 18, 19, 20 3, 4, 5, 6 2, 3, 4, 5, 6, 7, 8, 9, 11 1A, 2A, 3A, 4A, 5A, 6A 1B, 2B, 3B, 4B, 5B * 6. Prepare adjusting entries for accruals. 8, 14, 15, 16, 17, 18, 19, 20 7 2, 3, 4, 5, 6, 7, 8, 9, 11 1A, 2A, 3A, 4A, 5A, 6A 1B, 2B, 3B, 4B, 5B * 7. Describe the nature and purpose of an adjusted trial balance. 21 9, 10 3, 4, 5, 6, 7, 8, 9, 10 1A, 2A, 3A, 5A, 6A 1B, 2B, 3B, 5B *8. Prepare adjusting entries for the alternative treatment of prepayments. 22 11 12 6A * Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix * to the chapter.
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3-2 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Prepare adjusting entries, post to ledger accounts, and prepare an adjusted trial balance. Simple 40 50 2A Prepare adjusting entries, post, and prepare an adjusted trial balance and financial statements. Simple 50 60 3A Prepare adjusting entries and financial statements. Moderate 40 50 4A Prepare adjusting entries. Moderate 30 40 5A Journalize transactions and follow through accounting cycle to preparation of financial statements. Moderate 60 70 *6A * Prepare adjusting entries, an adjusted trial balance, and financial statements using appendix. Moderate 40 50 1B Prepare adjusting entries, post to ledger accounts, and prepare an adjusted trial balance. Simple 40 50 2B Prepare adjusting entries, post, and prepare an adjusted trial balance and financial statements. Simple 50 60 3B Prepare adjusting entries and financial statements. Moderate 40 50 4B Prepare adjusting entries. Moderate 30 40 5B Journalize transactions and follow through accounting cycle to preparation of financial statements. Moderate 60 70
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This note was uploaded on 10/29/2009 for the course ACC ACC 363 taught by Professor Mariaburgos during the Spring '09 term at University of Phoenix.

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ch03 - CHAPTER 3 Adjusting the Accounts ASSIGNMENT...

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