| Chapter |
|
| 1 - Accounting: Information for Decision Making | Q 2, 12, 17, 27, 31, 33, 34, 35, 37, 39
Ex 2* - Users of accounting information Ex 3 (a, c, d only) - What is financial reporting? * Handout - Review of Home Depot Annual Report (we will go over this once the reports are received) |
| 2 - Basic Financial Statements | Q 2, 4, 9, 11, 12, 13, 19
* Ex 1 - Nature of assets and liabilities Ex 6 - Accounting equation Ex 13 - Income statement with errors P 8A (do not prepare the statement of cash flows required in part b) - Preparing financial statements * P 9A - BS and accounting principles (note that you will need to "plug" the equity number, it cannot be derived from just the information provided in the problem although correcting many of the items discussed would, theoretically, also require a correction to the equity balance in order to keep the balance sheet in balance) |
| 3 - The Accounting Cycle: Capturing Economic Events | Q 1, 3, 5, 8, 9, 10, 11, 12, 13, 15, 19
BE 7 - When is revenue realized BE 8 - When is expense incurred * Ex 6 - Effect of transactions on accounting equation Ex 7 - effect of transactions, debits/credits provided * P 5A - Accounting cycle |
| 4 - The Accounting Cycle: Accruals and Deferrals | Q 1, 2, 8, 9, 10, 12, 14
Ex 2 - Effects of adjusting entries Ex 9 - Adjusting entries * P 3A - Analysis of adjusted data * P 8A - Effects of errors Case 1 - Should this be adjusted? Prepare an adjusted trial balance for our company (this will be used during out discussion of closing entries in chapter 5) |
| 5 - The Accounting Cycle: Reporting Financial Results | Q 2, 3, 4, 5, 7, 8, 13, 14, 18
E 15 (a and b only) - Home Depot report * P 1A (a and b only) - Correcting classification errors / financial statements and closing entries P 3A (a, b, c only) - Preparing financials and closing entries for an unprofitable company Read, but do not complete, Comprehensive Problem 1 and the related instruction handout |
Questions assigned are selected to help you focus on key concepts related to the material covered. I will not go over the answers in class (they are usually easily traced to the material in the chapter) unless asked to do so. Reviewing the questions, assigned and unassigned, will help you to determine if you understand the concepts covered, new terminology and the reasons behind specific calculations and journal entries from the related chapter.
* these items will be reviewed in class in detail.
Click here for assignments for chapters 6 - 9
Click here for assignments for chapters 10 through
13
.