(Full year course--1 credit)
Grade Level: 11th & 12th with good Math Skills
Competency Goal 1
Students will be able to understand Accounting for a Service Business organized as a Proprietorship.
1. Starting a Proprietorship.
2. Changes that affect owner's equity
3. Analyzing transactions into Debit and Credit parts
4. Journalizing Transactions
5. Posting to a general ledger
6. Cash control system
7. Work sheets for a service business
8. Financial Statement for a proprietorship
9. Recording adjusting and closing entries for a service business
Competency Goal 2
Students will be able to understand accounting for a merchandising business organized as a partnership.
1. Journalizing purchases and cash payments
2. Journalizing sales and cash receipts
3. Posting to general and subsidiary ledgers
4. Preparing payroll records
5. Payroll accounting, taxes, and reports
6. Work sheet for a merchandising business
7. Financial statements for a partnership
8. Recording adjusting and closing entries for a partnership
Competency Goal 3
Students will be able to understand accounting for a merchandising business organized as a corporation
1. Recording purchases and cash payments using special journals.
2. Recording sales and cash receipts using special journals.
3. Accounting for uncollectible account receivable.
4. Accounting for plant assets and depreciation
5. Accounting for inventory
6. Accounting for notes and interest
7. Accounting for accrued revenue and expenses
8. Distributing dividends and preparing a work sheet for a corporation
9. Financial statements and end-of-fiscal-period entries for a corporation.