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WEEK 1

Monday, January 31, 2011

Assignment Name : Week 1 - Chapter 1 - Introduction to Accounting and

Asset, Liability, Owner's Equity, Revenue, and Expense Accounts

 
Notes / Instructions : I.  Introductions    --  Powerpoint Presentation
 
Download the free PowerPoint Viewer!

 

II.  What is bookkeeping? What is accounting? (click here to find out)

           An Introduction to Accounting (PowerPoint Presentation)

III.  Your assignment for Wednesday, February 2:

1.  Buy your textbooks:

College Accouting, Ch 1 through 13  College Accounting, Chapters 1 through 13
McQuaig & Bille
2008  560  Pages  Hardcover 
ISBN-13: 978-0-618-82418-2
ISBN-10: 0-618-82418-9
Cover Image            and   (recommended)

 Working Papers , Volume 1 (Ch.1-13)
 paperback
 ISBN-13: 978-0-618-82419-9
 ISBN-10: 0-618-82419-7

(click on the book covers for links to online sources)

While waiting for your textbook to arrive, use the following link to Google Books for the first 2 1/2 chapters of the textbook:  click here

As an alternative to buying the working papers, you may print the needed pages from this page:  click here

2.  Preview the textbook companion site at
http://college.hmco.com/accounting/mcquaig/college_acc/9e/student_home.html

3.  Read the article, "How to Study Accounting."

4.  Read Introduction to Accounting, pages 1 through 6, in the textbook.   Link to PDF file:  Introduction

5.  Read Chapter 1, pages 7 through 23, in the textbook.  Link to PDF file:  Chapter 1 or link to Google Books online.

6.  Look through the Exercises on textbook pages 24 and 25. 

============================================================

Click on the links below if you have not been able to get your 9th edition textbook yet.  Obtain the password needed to open the files by emailing your instructor at ngoehring@mpc.edu and identify yourself by name and student number.

The password is: _______________________ (all lower case)

     Introduction, pages 1 through 6

     Chapter 1, pages 7 through 23

     Chapter 1 Exercises and Problems, pages 24 through 33

     Chapter 1, Working Papers


Wednesday, February 2, 2011

Assignment Name: Chapter 1 - Introduction to Accounting

and    Asset, Liability, Owner's Equity, Revenue, and Expense Accounts

Key Points

  • There are five classifications of accounts: assets, liabilities, owner’s equity, revenue, and expenses.
     
  • After each transaction has been recorded, the total of one side of the fundamental accounting equation must equal the total of the other side.
Notes / Instructions: In-class demonstration:

Chapter 1 PowerPoint (9e)

 
Download the free PowerPoint Viewer!
 

Chapter 1 Demonstration Problems: 

E1-1        

E1-2          

E1-3

E1-5

E1-8        

P1-1A         solution
Homework Assignment:

(due Wednesday,
February 9 at
beginning of class
before the
Chapter Quiz)

 

 Homework Submittal Sheet - Unit 1       please use
                                                                                         pencil!

Problem 1-2A,
(textbook - pages 28 and 29) + working papers - pages 10 and 11

Problem 1-3A,
(textbook - page 29) + working papers - pages 12 and 13

If you do not yet have your working papers, you may download this PDF file:

Chapter 1 Homework - blank forms  - in PDF format

                                                            Download Acrobat PDF Reader

 
For next week: You will be doing an in-class assignment similar to the above homework problems on Monday, February 7.  This assignment must be done in class and will be submitted by the end of the class session. You may use your book and notes while you complete this problem in class.

You will be taking your chapter quiz on Chapter 1 on Wednesday, February 9. This quiz consists of true/false questions, completion questions, questions relating to classifying accounts, and questions relating to analyzing transactions. The quiz is closed-book, closed notes.

To study for this quiz, you should complete the Study Guide for Chapter 1 - Parts 1 through 4 (found on pages 1 through 4 in your Working Papers with Study Guide 1-13 workbook).  Answers to the questions are in the back of your Study Guide on page 335.
These questions are not turned in but are an excellent way to study for the quiz.

All homework problems will be due Wednesday, February 9.  Be sure to answer the questions on the Homework Submittal Sheet!

 

Feeling overwhelmed?     overwhelmed

Try these tips:

1.  Reread the textbook, Chapter 1, very slowly and carefully and think through each transaction as it is presented and why each one is handled the way it is.
2.  Complete the Study Guide, pages 2 through 4, and check your answers in the back of the Study Guide.
3.  Look over the demonstration problem in your study guide, pages 4 and 5, and again think through why each transaction is handled the way it is.
4.  Review the problem we did in class together (Problem 1-1A).
5.  Do the two homework problems, Problem 1-2A and 1-3A.  If you get stuck on a transaction, look back through the book and the workbook to find an example that is similar.
6.  Try to get the homework done before class on Monday, February 7, even though it is not due until Wednesday, February 9.  We will check the problems in class together.
7.  The in-class graded assignment scheduled for Monday, February 7 is open book, so you will be able to refer to your homework and textbook as you complete the assignment.