AC-101 V8 Solutions ALL Chapter 2 - Sheet1 Page 1 CHAPTER 2...

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Unformatted text preview: Sheet1 Page 1 CHAPTER 2 The Recording Process ASSIGNMENT CLASSIFICATION TABLE Brief A B Study Objectives Questions Exercises Exercises Problems Problems 1. Explain what an account 1 1 is and how it helps in the recording process. 2. Define debits and credits 2, 3, 4, 5, 6, 1, 2, 5 2, 4, 6, 1A, 2A, 1B, 2B, and explain their use in 7, 8, 9, 14 7, 14 3A, 5A 3B, 5B recording business transactions. 3. Identify the basic steps in 10, 19 4 6, 7 the recording process. 4. Explain what a journal is 11, 12, 13, 3, 6 3, 5, 6, 7 1A, 2A, 1B, 2B, and how it helps in the 14, 16 10, 11, 12 3A, 5A 3B, 5B recording process. 5. Explain what a ledger is 17 8 and how it helps in the recording process. 6. Explain what posting is 15, 17 7, 8 9, 12 2A, 3A, 5A 2B, 3B, 5B and how it helps in the recording process. 7. Prepare a trial balance 18, 20 9, 10 9, 10, 11, 2A, 3A, 2B, 3B, and explain its purposes. 13, 14 4A, 5A 4B, 5B ASSIGNMENT CHARACTERISTICS TABLE Problem Difficulty Time Allotted Number Description Level (min.) 1A Journalize a series of transactions. Simple 20h30 2A Journalize transactions, post, and prepare a trial balance. Simple 30h40 3A Journalize and post transactions, and prepare a trial balance. Moderate 40h50 4A Prepare a correct trial balance. Moderate 30h40 5A Journalize transactions, post, and prepare a trial balance. Moderate 40h50 1B Journalize a series of transactions. Simple 20h30 2B Journalize transactions, post, and prepare a trial balance. Simple 30h40 3B Journalize transactions, post, and prepare a trial balance. Moderate 40h50 4B Prepare a correct trial balance. Moderate 30h40 5B Journalize transactions, post, and prepare a trial balance. Moderate 40h50 BLOOMhS TAXONOMY TABLE Sheet1 Page 2 Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation 1. Explain what an accountis and how it helps in therecording process. Q2-1E2-1 2. Define debits and credits andexplain their use in recordingbusiness transactions. Q2-2Q2-3Q2-4Q2-5Q2-6Q2-7Q2-8 Q2-9Q2-14BE2-1BE2-2BE2-5E2-2E2-4 E2-6E2-7E2-14P2-1A P2-2AP2-3AP2-5AP2-1B P2-2BP2-3BP2-5B 3. Identify the basic steps inthe recording process. Q2-10 Q2-19BE2-4 E2-6E2-7 4. Explain what a journal is andhow it helps in the recordingprocess. Q2-12 Q2-11Q2-13Q2-14 Q2-16BE2-3BE2-6E2-3E2-5E2-6 E2-7E2-10E2-11E2-12P2-1AP2-2A P2-3AP2-5AP2-1BP2-2BP2-3BP2-5B 5. Explain what a ledger is andhow it helps in the recordingprocess. E2-8 Q2-17 6. Explain what posting is andhow it helps in the recordingprocess. Q2-15Q2-17 BE2-7BE2-8E2-9E2-12 P2-2AP2-3AP2-5AP2-2B P2-3BP2-5B 7. Prepare a trial balance andexplain its purposes. Q2-18 BE2-9E2-9E2-10E2-11 E2-14P2-2AP2-3AP2-5A P2-2BP2-3BP2-5B Q2-20BE2-10E2-13P2-4A P2-4B Broadening Your Perspective Financial Reporting Decision Making Across the OrganizationExploring the Web Comparative Analysis CommunicationDecision MakingAcross the Organization All About YouEthics Case 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. 1....
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AC-101 V8 Solutions ALL Chapter 2 - Sheet1 Page 1 CHAPTER 2...

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