Friday, October 3rd

The following is what you will complete during my absence.

1) The substitute teacher will hand out the General Journal log and a T account sheet to complete 6-5 and 6-6 with your Syracuse Partner.  Make sure to put both names on the top of both sheets.   I have linked the templates below for those who are absent.

The General Journal

T Accounts



2) After completing 6-5, the substitute will provide you with the answer key to 6-5.  Check over the General journal to make sure you have recorded all the transactions correctly before completing 6-6.

Answer Key - Problem 6-5


3) Upon completing the classwork turn in all the work in the tray in the front of the room.

4) Start the homework that is listed below.

HW - Complete Problem 6-7 in Workbook
          Read 7.1, 7.2 (167-176)

The General Journal

In class students learned about the four source documents (Receipts, Check Stubs, Memorandum and Invoices).  Students also were introduced the General Journal and learned how to accurately record transactions in the General Journal. 

The notes are attached are attached below and there is no homework.

Notes - The General Journal

Temporary Accounts cont.

In class we reviewed temporary accounts.  Afterwards, students completed problem 5-7 and 5-8 in their workbook which required them to use T Accounts to analyze business transactions.

If you have not finished 5-7/5-8, complete it for next class.  The homework is listed below.

HW - Read Chapter 6 (pay close attention to section 6.1 and be familiar with the vocabulary words)

Temporary Accounts

In class students took Quiz #2 - using T accounts to analyze transactions.  Afterwards, students were introduced to the temporary accounts of Revenue, Expenses and Withdrawals.

The notes are attached and the homework is listed below.

Notes - Temporary Accounts

HW - 5-1, 5-5, 5-6

Using T Accounts to analyze transactions

In class students learned how to use T Accounts to analyze business transactions.

The notes are attached and the homework is listed below.

Notes - Chart - Debits and Credits

HW - Complete 4-7
          *Quiz #2* - Monday 9/22 - study notes - students will be required to do a problem similar to
                                                       4-5/4-6.

         - Read section 5.1 (107-112) and 5.2 (114-118) in textbook

The Double Entry Accounting System

In class students reviewed how different transactions affect various accounts.  Afterwards, students were introduced to the Double Entry Accounting System with debits (left side) and credits (right side).  Finally, students learned about T Accounts which is an accounting tool that helps identify debits and credits for each account.

The notes are listed below.  The homework is to read pgs. 81-83 and 86-89 if you have not done so already.

Notes - The Double Entry Accounting System

Transactions for Revenue, Expense and Withdrawals

In class students took their first quiz on chapters 1 and 2.  Afterwards, we reviewed the basic accounting equation (ASSETS = LIABILITIES + OWNER'S EQUITY) and looked at transactions that affect these accounts.  Students were later introduced to transactions that affect revenue, expense and withdrawals.

The homework is listed below and the notes are attached.

Notes - Transactions that affect Revenue, Expense and Withdrawals

HW -  Finish 3-4, 3-5, 3-6, 3-7, 3-8
        -  Read pgs. 81-84 and 86-89

Property and Financial Claim

In class we finished covering chapter 1 and 2 by differentiating between managerial accounting (profit or non-profit) and financial accounting (public accounting firm).  Finally, we discussed the 3 accounting assumptions set forth by GAAP: business entity, accounting period and going concern. 

Afterwards, students were introduced to property and financial claim.  A financial claim is the legal right to an asset.  This discussion led to students being introduced to the basic accounting equation...Assets = Liabilities + Owner's Equity.

The notes are attached and the homework is listed below.

Notes - Accounting Assumptions

Notes - Property and Financial Claims


HW - Study for Quiz
       - Read Section 3.3 - pgs. 63-66

The World of Business

In class students were introduced to the world of business.  There are three types of business operations: service, merchandising and manufacturing. 

The notes are attached and the homework is listed below.

The World of Business

HW - Complete 2-4, 2-4, 2-6, 2-7

Introduction to Accounting

In class students were introduced to the field of accounting and learned about the 3 types of businesses in which accountants can work.  Students also learned the 3 types of business organization.

The notes are listed below.

Notes - Introduction to Accounting

HW - Read pgs. 28-40

First Day!

Welcome Back! I enjoyed meeting all of you today and getting back into the swing of things.  Below, I have attached the course syllabus.

Accounting - Syllabus

HW - Signed Syllabus
        - Read Textbook - pgs. 28-40