Accounting Assignment | Professional Writing Services

Accounting Principles II

Portfolio Project Directions and Rubric

Outcomes

Completing this Assessment will help you to meet the following:

Course Outcomes

• Interpret and apply Generally Accepted Accounting Principles (GAAP) to analyze, record, and report financial information including receivable and payable transactions for a merchandising business using computerization
• Select and utilize appropriate technology to complete a real-world accounting project that requires the construction of a multiple-step income statement and a classified balance sheet.

 

Program Outcomes

Accounting Associates:

• Interpret and apply generally accepted accounting principles (GAAP) to analyze, record, and report financial information.

 

Business Associates:

• Demonstrate knowledge of numeric measurements within the business environment to make informed decisions.

 

BBA:

• Apply contemporary knowledge and skills in the evolving business marketplace.

Institutional Outcomes

• Information Literacy and Communication – Utilize appropriate current technology and resources to locate and evaluate information needed to accomplish a goal, and then communicate findings in visual, written and/or oral formats.
• Relational Learning – Transfer knowledge, skills and behaviors acquired through formal and informal learning and life experiences to new situations.
• Thinking Abilities – Employ strategies for reflection on learning and practice in order to adjust learning processes for continual improvement.
• Quantitative and Scientific Reasoning – Follow established methods of inquiry and mathematical reasoning to form conclusions and make decisions.
• Community and Career – Participate in social, learning, and professional communities for personal and career growth.

 

Scenario

 

You have just been promotedto the Senior Accountant position for Northridge LLC. During your first month in your new role, you will be completing a full accounting cycle for the month. Your Supervisor, Mr. Jones, requests that he previews your work since you are new to the position.

Directions

For this project, you will be using the Excel workbook provided in week 3.

Deliverable items for the Portfolio Project will be required at different points during the course as indicated in the table above, and then a final submission that includes corrected versions of each of the three submissions (as needed) .

Northridge LLC
Trial Balance
April 30, 20XX
					Debit	Credit
Cash					$58,791
Accounts receivable					18,495
Merchandise inventory					85,221
Store Supplies					2250
Office Supplies’					885
Prepaid Insurance					1659
Office equipment					2500
Accumulated depreciation-Office Equipment						$658
Store equipment					16580
Accumulated depreciation-Store Equipment						2,268
Accounts Payable						50921
J. Spark, Capital						132,534
Totals					$186,381	$186,381

 

 

Week 5: Trial Balance, Adjustments, Closing Entries
submit your work by the end of Week 5, 11:59pm EST.

Using the informationfrom the Excel workbook from Week 3’s submission, complete a worksheet using the following information for accounting adjustments.

Complete the columns for the below adjusting entries, income statement, and balance sheet. Also, record the required closing entries. Add any lines as necessary.

• 1. Expired insurance, $553.

• 1. Ending store supplies inventory, $2,632.

• 1. Ending office supplies inventory, $504.

4. Depreciation of store equipment, $567.

• 1. Depreciation of office equipment, $329.

ACCT205 – Portfolio Project – Week 3 General Journal Entries Rubric
Criteria	Exceeds Expectations	Meets Expectations	Needs Improvement		Points
Forms and Schedules 100 Points	90-100 points Submitted without errors: ·         Journal Entries ·         Properly formatted	70 – 89 points Submitted with minor errors, each of the submissions: ·         Journal Entries ·         1-5 entries incorrectly formatted/not balanced	69-0 points   ·         Did not submit or missing a significant amount of data; numerous errors. ·         6 or more JEs are not in proper form/unbalanced ·         Student does not understand how to correctly complete assigned tasks.
Instructor Comments:				Total Points:

ACCT205 – Portfolio Project Week 5 Trial Balance, Adjusting & Closing Entries Rubric
Criteria	Exceeds Expectations	Meets Expectations	Needs Improvement		Points
Forms and Schedules 100 Points	90-100 points   Submitted without errors: ·         Adjusting Entries ·         Worksheet ·         Closing Entries ·         In proper form/balanced	70 – 89 points   Submitted with minor errors, each of the submissions: ·         Adjusting Entries ·         Worksheet ·         Closing Entries ·         1-3 entries incorrectly formatted/not balanced	69-0 points   ·         Did not submit or missing a significant amount of data; numerous errors. ·         4 or more entries are not in proper form/unbalanced ·         Student does not understand how to correctly complete assigned tasks.
Instructor Comments:				Total Points:

ACCT205 – Portfolio Project Week 6 Financial Statements Rubric
Criteria	Exceeds Expectations	Meets Expectations	Needs Improvement		Points
Forms and Schedules 100 Points	90-100 points   Submitted without errors: ·         Multiple Step Income Statement ·         Statement of Owners’ Equity ·         Classified Balance Sheet ·         In proper form/balanced	70 – 89 points   Submitted with minor errors, each of the submissions: ·         Multiple Step Income Statement ·         Statement of Owners’ Equity ·         Classified Balance Sheet ·         1 statement incorrectly formatted/not balanced	69-0 points   ·         Did not submit or missing a significant amount of data; numerous errors. ·         2 or more statements are not in proper form/unbalanced ·         Student does not understand how to correctly complete assigned tasks.
Instructor Comments:				Total Points:

ACCT205 – Portfolio Project Final Submission Rubric
Criteria	Exceeds Expectations	Meets Expectations	Needs Improvement		Points
Forms and Schedules 100 Points	90-100 points   Submitted to ePortfolio without errors in each of the submissions: ·      Journal Entries ·      Worksheet/Adjusting & Closing Entries ·      Financial Statements	70 – 89 points   Submitted to ePortfolio with minor errors in each of the submissions: ·      Journal Entries ·      Worksheet/Adjusting & Closing Entries ·      Financial Statements	0 -69 points   Did not submit or missing a significant amount of data; numerous errors. Student does not understand how to correctly complete assigned tasks.
Instructor Comments:				Total Points: