CH03 - CHAPTER 3 Adjusting the Accounts ASSIGNMENT...

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Unformatted text preview: CHAPTER 3 Adjusting the Accounts ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises Problems Alternate Problems * 1. Explain the time period assumption. 1, 2 * 2. Distinguish between the revenue recognition principle and the matching principle. 3, 4 5, 6 * 3. Explain why adjusting entries are needed. 1, 5, 6 1 * 4. Identify the major types of adjusting entries. 7, 8, 9, 17 2, 8 1, 6 * 5. Prepare adjusting entries for prepayments. 7, 8, 9, 10, 11, 12, 17, 18, 19 3, 4, 5, 6, 8, 9 1, 2, 3, 4, 5, 6, 7, 8 1, 2, 3, 4, 5 1, 2, 3, 4, 5 * 6. Prepare adjusting entries for accruals. 7, 13, 14, 15, 16, 17, 18, 19 7, 8, 9 1, 2, 3, 4, 5, 6, 7, 8 1, 2, 3, 4, 5 1, 2, 3, 4, 5 * 7. Describe the nature and purpose of an adjusted trial balance. 20 8, 9, 10 2, 3, 4, 5, 6, 7, 8, 9 1, 2, 3, 5, 6 1, 2, 3, 5 * 8. Explain the accrual basis of accounting. 21 10 *9. Prepare adjusting entries for alternative treatment of prepayments. 22 11 11 6 *Note: All asterisked Questions, Exercises, and Problems relate to material contained in the Appendix * to each chapter. 3-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1 Prepare adjusting entries, post, and prepare an ad- justed trial balance. Simple 40-50 2 Prepare adjusting entries, post, and prepare an ad- justed trial balance, an income statement, a retained earnings statement, and a balance sheet. Simple 50-60 3 Prepare adjusting entries, an income statement, a retained earnings statement, and a balance sheet. Moderate 40-50 4 Prepare adjusting entries. Moderate 30-40 5 Journalize transactions and follow through account- ing cycle to preparation of financial statements. Moderate 60-70 *6 Prepare adjusting entries using appendix, an ad- justed trial balance, an income statement, a retained earnings statement, and a balance sheet. Moderate 40-50 1A Prepare adjusting entries, post, and prepare an ad- justed trial balance. Simple 40-50 2A Prepare adjusting entries, post, and prepare an ad- justed trial balance, an income statement, a retained earnings statement, and a balance sheet. Simple 50-60 3A Prepare adjusting entries, an income statement, a retained earnings statement, and a balance sheet. Moderate 40-50 4A Prepare adjusting entries. Moderate 30-40 5A Journalize transactions and follow through account- ing cycle to preparation of financial statements. Moderate 60-70 Correlation Chart between Bloom's Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledge Compr ehensi on Applicatio n Analy sis Synthesis Evaluation 1. Explain the time period assumption. Q3-1 Q3-2 2. Distinguish between the revenue recognition principle and the matching principle....
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CH03 - CHAPTER 3 Adjusting the Accounts ASSIGNMENT...

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