BK-096 Bookkeeping II

Course description

The course is designed to give students a further understanding of the accounting environment and accounting principles and concepts in a merchandising business industry organized as a partnership. Emphasis will be placed on accounting cycle procedures in merchandising, payroll bookkeeping, receivables and payables, and internal control for cash.

  • This course also meet PLO #(s): NA Prerequisite Courses: BK095

A.  PROGRAM LEARNING OUTCOMES (PLOs): 
The student will be able to:
1. Demonstrate proper bookkeeping techniques for a small business.
2. Demonstrate general computer competence and information technology literacy.
3. Describe small business management techniques.
4. Communicate effectively in English for business purposes.
5. Perform business computations and apply logic as needed.
6. File documents properly and use common office machines
B.  STUDENT LEARNING OUTCOMES (SLOs)- GENERAL: 
The student will be able to:

  1. Demonstrate accounting procedures used in the accounting system, including journalizing, posting, adjusting and closing the accounts, in addition to preparing financial statements for a merchandising business, particularly a corporation.
  2. Demonstrate aspects of accounting functions including internal cash control procedures and payroll bookkeeping.

SLO

PLO1

PLO2

PLO3

PLO4

PLO5

PLO6

 1

D

 

 

 

 

 

2

D

I

I

 

I

 



I = Introduced
D = Demonstrated
M = Mastered

C.  STUDENT LEARNING OUTCOMES (SLOs)-SPECIFIC: 
      The student will be able to: 

General SLO 1. Demonstrate accounting procedures used in the accounting system, including journalizing, posting, adjusting and closing the accounts, in addition to preparing financial statements for a merchandising business, particularly a corporation.


Student Learning Outcomes

Assessment Strategies

1.1 Describe the nature of a merchandising business.

Chapter Quiz

1.2 Describe the nature of a partnership and corporation.

1.3 Prepare a worksheet.

Workbook Applications/Quizzes

1.4 Determine needed adjustments.

1.5 Prepare a multi-step income statement for a merchandising business.

1.6 Prepare a classified balance sheet.

1.7 Prepare adjusting and closing entries.

1.8 Describe the concept of subsidiary ledgers and special journals.

Chapter Quiz/Exam

1.8 Journalize and post using accounts receivable subsidiary ledgers and special sales journal.

Workbook Application/Quiz/Exam

1.10 Describe the purchasing process

Chapter Quiz/Exam

1.11 Record the purchase of merchandise on account.

Workbook Application/Quiz/Exam

1.12 Journalize and post using accounts payable subsidiary ledgers and special purchases journal

1.13 Journalize and post using cash receipts and cash payment journals.

General SLO 2. Demonstrate aspects of accounting functions including internal cash control procedures and payroll bookkeeping.


Student Learning Outcomes

Assessment Strategies

2.1 Explain the operation of a petty cash fund and be able to complete the financial papers involved.

Workbook Applications
Quizzes/Exam

2.2 Explain banking procedures and reconcile a bank statement.

2.3 Determine gross earnings, deductions and net pay.

2.4 Record the expense, liability, and cash disbursement in connection with payroll and record the employer’s tax expense.

2.5 Complete a merchandising business bookkeeping practice set

Final Project/Exam

D.  COURSE CONTENT

  1. Journalizing special journals: purchases, sales, cash payments, and cash receipts.
  2. Posting to the general, subsidiary accounts receivable, and subsidiary accounts payable ledgers.
  3. Preparing a worksheet for a merchandising business.
  4. Preparing the basic financial statements: income statement, statement of owner’s equity, and balance sheet.
  5. Recording adjusting and closing entries.
  6. Handling cash through internal controls, establishing petty cash and change funds, and preparing account reconciliations.
  7. Preparing payroll records: payroll register, time-cards, various tax forms, and payroll checks.

E.  METHODS OF INSTRUCTION
      Lecture, case/problem discussion, audio/video presentations, and application activities.

F.  REQURIED TEXT(S) AND COURSE MATERIALS
Gilbertson, C.B., & Lehman, M.W. (2009). Fundamentals of Accounting: Course 1 (9th ed.). Cincinnati, OH: South-Western, Cengage Learning. (or most recent edition)

G.  REFERENCE MATERIALS
None

H.  COSTS
      None

I.   EVALUATION
None

J.   CREDIT BY EXAMINATION
      None

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