Business Financial Accounting Period 3 2020-21-https://zoom.us/j/91256155133?pwd=bTd6Um1VNktQYlZIbGpHc0c5cVRWZz09 Assignments

The instructions were to explore chapter 10 sections 1-7 and do the following:
1. Gather literature from the chapter that responds to each prompt.

2. Provide answers for each prompt. Put them in notes form or in a slide show.


I put a blank doc and slide show for your choosing. You can choose to respond to the prompts using either in a DOC or a SLIDE SHOW

Make sure you calculate for 9.4 the Profitability Ratio
Make sure you calculate the Current Ratio for 9.5

Fill in the blanks. The resource below you will use in the next activity









Resource for Report Form Balance Sheet
https://www.accountingformanagement.org/balance-sheet/

matchmaker and learning style

In terms of self-care and coping, what self-care criteria have you dealt with and positively used to cope with things.

Write what you consider is necessary.

Calculating Ratio(S)

Instructions on the Template.

Objective: Calculate Ending Capital

Standard
Income Statements for the Three Types of Business Operations 1. Apply the revenue realization and matching principles in the preparation of an income statement or statement of operations for service

Resources
https://www.youtube.com/watch?v=Z34LhGjqDDA
https://www.youtube.com/watch?v=CwJ_nNyL17c
https://www.youtube.com/watch?v=x3bjr3JPedE

https://www.youtube.com/watch?v=cYLqSoF1g1U&t=160s

Here is a redource that shows how to do a statement of owners equity change
https://www.youtube.com/watch?v=AudtWwi8qdI

Instructions in Doc

Use the template from the previous classwork. Its the one with all the worksheet templates

Use the tabs in the template

Page 208 Table 8-10

CH7 Page 190
Go to page 190 of ch7. Do the case study Accounting Services.
Or you can do the case study from the doc provided.

Read the instructions:
You will describe and make suggestions to the case.

Review in preparation for Income statement and Balance sheet

https://www.youtube.com/watch?v=1mFlEL9uWHc
https://www.youtube.com/watch?v=BTuH7C0g87o

https://www.wallstreetmojo.com/general-ledger-vs-trial-balance/

https://www.wallstreetmojo.com/general-journal-vs-general-ledger/

Here are two links good for reviewing the General Journal and General Ledger. Also, the first link compares and contrast the chapter 7 forms called General Ledger and Trial Balance.

Use the provided doc to Compare and Contrast the General Journal to the General Ledger.

Work is the following, in a half page response, describe the relationship of all three forms in regards to the rules of debits and credits. In other words, how do the DR and Cr behave in each form and why is it?

Standards
I. The Accounting Cycle
Achievement Standard: Complete and explain the purpose of the various steps in the accounting cycle.

CTE.FB.A.A1.1 Understand the accounting cycle for service businesses and merchandise businesses.

California Academic Content Standards (1)
ELA.9-10.R.SFIM.2.1
Analyze the structure and format of functional workplace documents, including the graphics and headers, and explain how authors use the features to achieve their purposes.

Instructions are in the doc

Standards
I. The Accounting Cycle
Achievement Standard: Complete and explain the purpose of the various steps in the accounting cycle.

CTE.FB.A.A1.1 Understand the accounting cycle for service businesses and merchandise businesses.

California Academic Content Standards (1)
ELA.9-10.R.SFIM.2.1
Analyze the structure and format of functional workplace documents, including the graphics and headers, and explain how authors use the features to achieve their purposes.

Do activity 6.4

There is an Excel T Account template attached. Use it to record each account beginning and ending balance.
You must transfer the ending balances to the word doc as well.
The template will help by giving you a visual of the effects to the accounts; numerically speaking.

I am changing part of the instructions. I have uploaded a template with the T accounts for 5.5. Use it instead of the hand drawn. I feel this is a better approach.
If you turned yours in already (hand written one) no need to redo but do open the template and see how it is set up.

Remember to do the Double Entry Accounting for every account.

In class work for activity 5.4
In your own working paper perform the task according to instructions

https://www.youtube.com/watch?v=8CarSg5Qpjo
https://www.youtube.com/watch?v=fxGupc8qrCU


Instructions
View the tutorials and evaluate the temp and perm account concepts
Determine similarities and differences
What is the role of each in regards to daily business operations

activity 5.3 pg 122

View the link provided and evaluate the temp and perm accounts.
1.Make a list of the temp and perm accounts that are mentioned.
2.Explain the relationship of the accounts in terms of accounting period. That is, why is it important to analyze financial data from one time period to another. This is called the accounting period.

https://www.youtube.com/watch?v=BgVcZsawdKI

Take notes of CH 5 use these resources.
Explains expenses but also revenue
https://www.youtube.com/watch?v=-YFS3Bt82AE
https://www.youtube.com/watch?v=m808FcyI9TI

hand write the T accounts and interpret each transaction
put in sentence format each transaction
Or use the sample table in the page. In other words, draw out the table and follow it to describe each transaction

take picture of the work and submit

Objective

Evaluate the chart of accounts
Record transactions

Objective:
Evaluate the table of accounts and explain each transaction.

What are the similarities and differences of
Accounts Payable and Accounts Receivable

Read Instructions on doc.
NBEA Accounting Standards
V. Accounting Process
Achievement Standard: Complete the steps in the accounting cycle in order to prepare the financial statements.

CTE Standards
B2.0 Explain how the application of Generally Accepted Accounting Principles (GAAP) impacts the recording of transactions and the preparation of financial statements.
B2.2 Complete the steps in the accounting cycle in order to prepare financial statements and communicate how accounting procedures affect financial statements.

View this video; it showcases the role of accounting. Here you will see the effects of accounting to a business when done incompetently.

Instructions:
A. In a slide show (roughly 2-3 slides, more if needed). List the things that showcase the effects of this restaurants accounting process.
1. How is their accounting
2.What accounts are affected and how?
3. Who is overseeing the finances?
4. Name some of the transactions and what effect it has on the business?
5. What is the biggest liability; has it been paid?
6.How often are the finances updated?
7.What type of changes were made to the business that helped turn things around?

B. In one slide:
summarize what has been the role of accounting in this restaurant? Explain. Make sure use accounting terminology and regular English.

C. On another slide:
describe what changes were made and how did accounting play a role in the change. That is, what changes were made to the accounts and how did this affect the role of accounting?

Resources:
This is a great tutorial that breaks down the accounting equation
https://www.investopedia.com/terms/a/accounting-equation.asp

Use these three resources. They follow the format of the assignment, especially the third one.
https://www.youtube.com/watch?v=38KiM6WL1NM
https://www.youtube.com/watch?v=o9-Sh_6EmkA
https://www.youtube.com/watch?v=5iS1Nif6qVc

Objective:
Students will be able to identify each part of the accounting equation.
Students will be able to check the balance of the accounting equation after a business transaction has
been analyzed and recorded.
Students will be able to apply basic accounting terminology.

Accounting Standards:
CTE.FB.A.A1.0 Students understand the basic principles and procedures of the accounting cycle:
CTE.FB.A.A1.2 Examine, analyze, and categorize financial transactions

Write complete sentences. Provide details that support your responses.

Objective:
Evaluate the role of government in an enterprises internal operations from an accounting perspective
Analyze market to market accounting
Explain the role of proper accounting

STANDARDS

III. Financial Analysis
Achievement Standard: Assess the financial condition and operating results of a company

IV. Accounting Applications
Achievement Standard: Identify and describe generally accepted accounting principles (GAAP), explain how the application of GAAP impacts the recording of financial transactions, and the preparation of financial statements.

VII. Compliance
Achievement Standard: Develop a working knowledge of individual income tax procedures and requirements to comply with tax laws and regulations.