CH04 - CHAPTER 4 Completion of the Accounting Cycle...

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Unformatted text preview: CHAPTER 4 Completion of the Accounting Cycle ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises Problems Alternate Problems * 1. Prepare a work sheet. 1, 2, 3, 4, 5 1, 2, 3 1, 2, 4, 5 1, 2, 3, 4, 5 1, 2, 3, 4, 5 * 2. Explain the process of closing the books. 6, 7, 11, 12 4, 5, 6 3, 6, 8, 11 1, 2, 3, 4, 5 1, 2, 3, 4, 5 * 3. Describe the content and purpose of a post- closing trial balance. 8, 9 7 3, 6 1, 2, 3, 4, 5 1, 2, 3, 4, 5 * 4. State the required steps in the accounting cycle. 10, 11, 12 8 11 5 5 * 5. Explain the approaches to preparing correcting entries. 13 9 9 6 * 6. Identify the sections of a classified balance sheet. 14, 15, 16, 17, 18, 19, 20 10 2, 7, 10 1, 2, 3, 4, 5 1, 2, 3, 4, 5 *7. Prepare reversing entries. 10, 21, 22 11 11 *Note: All asterisked Questions, Exercises, and Problems relate to material contained in the Appendix * to each chapter. 4-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1 Prepare work sheet with separate financial statements, adjusting and closing entries. Simple 40-50 2 Complete work sheet and prepare financial statements, closing entries, and post-closing trial balance. Moderate 50-60 3 Prepare financial statements, closing entries, and post-closing trial balance. Moderate 40-50 4 Complete work sheet and prepare a classified balance sheet, adjusting and closing entries, and post-closing trial balance. Moderate 50-60 5 Complete all steps in the accounting cycle. Complex 70-90 6 Analyze errors and prepare correcting entries and trial balance. Moderate 40-50 1A Prepare work sheet with separate financial statements, adjusting and closing entries. Simple 40-50 2A Complete work sheet and prepare financial statements, closing entries, and post-closing trial balance. Moderate 50-60 3A Prepare financial statements, closing entries, and post-closing trial balance. Moderate 40-50 4A Complete work sheet and prepare a classified balance sheet, adjusting and closing entries, and post-closing trial balance. Moderate 50-60 5A Complete all steps in the accounting cycle. Complex 70-90 Correlation Chart between Bloom's Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledge Compre hension Applic ation Analysis Synthesis Evaluation 1. Prepare a work sheet. BE4-1 Q4-1 Q4-2 Q4-3 Q4-4 Q4-5 BE4-3 E4-1 E4-2 P4-2 P4-3 P4-2A P4-3A BE4-2 E4-4 E4-5 P4-1 P4-4 P4-5 P4-1A P4-4A P4-5A 2. Explain the process of closing the books. Q4-6 Q4-11 Q4-12 Q4-7 BE4-4 BE4-5 BE4-6 E4-3 E4-6 E4-8 P4-2 P4-3 P4-2A P4-3A E4-11 P4-1 P4-4 P4-5 P4-1A P4-4A P4-5A 3. Describe the content and purpose of a post-closing trial balance. Q4-8 Q4-9 BE4-7 E4-3 E4-6 P4-2 P4-3 P4-2A P4-3A P4-1 P4-4 P4-5 P4-1A P4-4A P4-5A 4. State the required steps in the accounting cycle....
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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.

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CH04 - CHAPTER 4 Completion of the Accounting Cycle...

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