ch02 - CHAPTER 2 The Recording Process ASSIGNMENT...

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2-1 CHAPTER 2 The Recording Process ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems 1. Explain what an account is and how it helps in the recording process. 1 2. Define debits and credits and explain how they are used to record business transactions. 2, 3, 4, 5, 6, 7, 8, 9, 14 1, 2, 5 1, 3, 10 1A, 2A, 3A, 5A 1B, 2B, 3B, 5B 3. Identify the basic steps in the recording process. 10, 19 4 4. Explain what a journal is and how it helps in the recording process. 11, 12, 13, 14, 16 3, 6 2, 4, 6, 7, 8 1A, 2A, 3A, 5A 1B, 2B, 3B, 5B 5. Explain what a ledger is and how it helps in the recording process. 17 6. Explain what posting is and how it helps in the recording process. 15, 17 7, 8 5, 8 2A, 3A, 5A 2B, 3B, 5B 7. Prepare a trial balance and explain its purposes. 18, 20 9, 10 5, 6, 7, 9, 10 2A, 3A, 4A, 5A 2B, 3B, 4B, 5B
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2-2 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Journalize a series of transactions. Simple 20 30 2A Journalize transactions, post, and prepare a trial balance. Simple 30 40 3A Journalize transactions, post, and prepare a trial balance and financial statements. Moderate 40 50 4A Prepare a correct trial balance. Moderate 30 40 5A Journalize transactions, post, and prepare a trial balance. Moderate 40 50 1B Journalize a series of transactions. Simple 20 30 2B Journalize transactions, post, and prepare a trial balance. Simple 30 40 3B Journalize and post transactions, prepare a trial balance, and determine the elements of financial statements. Moderate 40 50 4B Prepare a correct trial balance. Moderate 30 40 5B Journalize transactions, post, and prepare a trial balance. Moderate 40 50
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BLOOM'S TAXONOMY TABLE 2-3 Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation 1. Explain what an account is and how it helps in the recording process. Q2-1 2. Define debits and credits and explain how they are used to record business transactions. Q2-2 Q2-3 Q2-4 Q2-5 Q2-6 Q2-7 Q2-8 Q2-9 Q2-14 BE2-1 BE2-2 BE2-5 E2-1 E2-3 E2-10 P2-1A P2-2A P2-3A P2-5A P2-1B P2-2B P2-3B P2-5B 3. Identify the basic steps in the recording process. Q2-10 Q2-19 BE2-4 4. Explain what a journal is and how it helps in the recording process. Q2-12 Q2-11 Q2-13 Q2-16 BE2-3 BE2-6 E2-2 E2-4 E2-6 E2-7 E2-8 5. Explain what a ledger is and Q2-17 6. Explain what posting is and Q2-15 BE2-7 BE2-8 E2-5 7. Prepare a trial balance and explain its purposes. Q2-18 BE2-9 Q2-20 BE2-10 E2-9 P2-4A P2-4B Broadening Your Perspective Financial Reporting Group Decision Case Exploring the Web Cookie Chronicle Comparative Analysis Research Case Communication Group Decision Case Ethics Case Interpreting Financial Statements Global Focus
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2-4 ANSWERS TO QUESTIONS 1. A T account has the following parts: (a) the title, (b) the left or debit side, and (c) the right or credit side. Because the alignment of these parts of an account resembles the letter T, it is referred to as a T account.
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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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ch02 - CHAPTER 2 The Recording Process ASSIGNMENT...

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