CH05 - CHAPTER 5 Accounting for Merchandising Operations...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CHAPTER 5 Accounting for Merchandising Operations ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises Problems Alternate Problems 1. Identify the differences between a service enter- prise and a merchandis- ing company. 1, 2, 3, 4 1 2. Explain the entries for purchases under a per- petual inventory system. 5, 6, 7 2, 4 1, 2, 3, 9 1, 2, 5 1, 2, 5 3. Explain the entries for sales revenues under a perpetual inventory system. 8, 9, 10 2, 3, 5, 9 2, 3, 4, 5, 9, 10 1, 2, 5 1, 2, 5 4. Explain the computa- tion and importance of gross profit. 11, 12 9 10 1 1 5. Identify the unique features of the income statement for a mer- chandising company. 12, 13 5, 10 1, 3, 4 1, 3, 4 6. Explain the steps in the accounting cycle for a merchandising company. 14, 15, 16, 17 6, 7 5, 6, 7 3, 4, 5 3, 4, 5 7. Distinguish between a multiple-step and a single-step income statement. 18, 19, 20 8, 9 8 3, 4 3, 4 5-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1 Journalize, post, and prepare partial income statement. Simple 30-40 2 Journalize entries under a perpetual inventory system. Moderate 20-30 3 Complete accounting cycle beginning with a work sheet. Moderate 50-60 4 Prepare financial statements and adjusting and closing entries. Moderate 40-50 5 Journalize, post, and prepare trial balance. Simple 30-40 1A Journalize, post, and prepare partial income statement. Simple 30-40 2A Journalize entries under a perpetual inventory system. Moderate 20-30 3A Complete accounting cycle beginning with a work sheet. Moderate 50-60 4A Prepare financial statements and adjusting and closing entries. Moderate 40-50 5A Journalize, post, and prepare trial balance. Simple 30-40 Correlation Chart between Bloom's Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledg e Comprehension Applic ation Analy sis Synthesi s Evaluation 1. Identify the differences between a service enterprise and a merchandising company. Q5-4 Q5-1 Q5-2 Q5-3 BE5-1 2. Explain the entries for purchases under a perpetual inventory system. Q5-5 Q5-6 Q5-7 BE5-2 BE5-4 E5-1 E5-2 E5-3 P5-1 P5-2 P5-5 P5-1A P5-2A P5-5A E5-9 3. Explain the entries for sales revenues under a perpetual inventory system. Q5-9 Q5-10 BE5-2 BE5-3 BE5-5 BE5-9 E5-2 E5-3 E5-4 E5-5 E5-10 P5-1 P5-2 P5-5 P5-1A P5-2A P5-5A Q5-8 E5-9 4. Explain the computation and importance of gross profit. Q5-11 Q5-12 BE5-6 BE5-9 E5-10 P5-1 P5-1A 5. Identify the unique features of the income statement for a merchandising company. Q5-13 Q5-12 E5-5 E5-10 P5-1 P5-1A P5-3 P5-4 P5-3A P5-4A 6. Explain the steps in the accounting cycle for a merchandising company. Q5-15 BE5-6 Q5-14 Q5-16 Q5-17 BE5-7 E5-5 E5-6 E5-7 P5-5 P5-5A P5-3 P5-4 P5-3A P5-4A 7. Distinguish between a multiple-step and a single-step income statement....
View Full Document

This note was uploaded on 04/20/2010 for the course ACC 363 $21 taught by Professor Mr.someone during the Spring '06 term at University of Phoenix.

Page1 / 67

CH05 - CHAPTER 5 Accounting for Merchandising Operations...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online