Accounting 1
Lesson Plans

Strand 4

Students will identify and use source documents to journalize transactions, post journal entries to the ledger, and prepare a trial balance.

• Accounting -- Journalizing Transactions
  Introduction of a 5 column journal for a proprietorship set up as service business and how to record transactions in a 5 column journal. Introduction of source documents and their importance when recording a transaction in a journal. Journalizing each of the transactions discussed so far in a 5 column journal in the appropriate columns (general or special columns) for the following transactions discussed so far: receiving cash from the owner of a proprietorship as an investment, paying cash for supplies, paying cash for insurance, buying supplies on account, paying cash on account, receiving cash from sales, paying cash for an expense, paying cash to an owner of a proprietorship for personal use.
• Accounting -- Posting To A General Ledger
  Introduction of file maintenance and a chart of accounts for a proprietorship set up as a service business. Review journals and what is posted in a journal. Introduction of a ledger, its connection to the journal, the components of a ledger and how to open a new ledger. Introduction of posting separate amounts from the general columns of a journal, posting totals from the special amount columns of a journal and balancing all general ledgers.
• Accounting 1 - Simulation
  Mt. Nebo Pumpkins, is a complete accounting simulation using source documents.
• Accounting 1-Accounting Board Game & Career Unit
  Students will play a board game and prepare financial statements. Students will connect this to possible accounting careers.

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