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Accounting - Plant Assets and Depreciation

Time Frame:
2 class periods that run 90 minutes each.


 

Summary:
Introduction of current assets and plant assets. Introduction of journalizing buying plant assets and posting the entry to the assets General ledger. Introduction of the effects of depreciation on plant assets, how to calculate the depreciation expense for an entire fiscal year, as well as part of a fiscal year using the Straight-Line Method of Depreciation. Introduction of journalizing and posting a plant assets depreciation expense and the sale of a plant asset.

Main Curriculum Tie:
Accounting IIStandard 5
Students will demonstrate and explain the principles for handling depreciation of assets as a means of cost allocation.

Career Connections:

  • Accounting

Materials:
Have the web address for the online activities and quiz available for the student.

Web Sites

Background For Teachers:
Students will learn about current assets and plant assets, journalizing buying plant assets and posting the entry to the assets General ledger, the effects of depreciation on plant assets, how to calculate the depreciation expense for an entire fiscal year, as well as part of a fiscal year using the Straight-Line Method of Depreciation, journalizing and posting a plant assets depreciation expense and the sale of a plant asset.

Intended Learning Outcomes:
An introduction, review games and quiz on current assets and plant assets, journalizing buying plant assets and posting the entry to the assets General ledger, the effects of depreciation on plant assets, how to calculate the depreciation expense for an entire fiscal year, as well as part of a fiscal year using the Straight-Line Method of Depreciation, journalizing and posting a plant assets depreciation expense and the sale of a plant asset.

Instructional Procedures:
Have the students complete the online activities and quiz.

Strategies For Diverse Learners:
Online activities

Assessment Plan:
Students will master the online vocabulary activities, they will complete the online chapter quiz.

Bibliography:
Century 21 Accounting South Western Publishing 6th edition, 1995

Author:
Nicole Reitz-Larsen

Created Date :
Feb 04 2005 12:13 PM

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