ACCB 129L Introduction to Bookkeeping Lab*
This lab will provide students with hands-on experience creating business financial statements using the entire accounting cycle.
ACCB 129LIntroduction to Bookkeeping Lab*
Please note: This is not a course syllabus. A course syllabus is unique to a particular section of a course by instructor. This curriculum guide provides general information about a course.
I. General Information
II. Course Specification
Course Type
Program Requirement
Credit Hours Narrative
1 Credit
Semester Contact Hours Lab
32
Corequisite Narrative
ACCB 129
Grading Method
Letter grade
III. Catalog Course Description
This lab will provide students with hands-on experience creating business financial statements using the entire accounting cycle.
IV. Student Learning Outcomes
Upon completion of this course, a student will be able to:
- Demonstrate how to post routine business transactions to general and subsidiary ledgers
- Demonstrate how to complete adjusting and closing entries using a worksheet
- Demonstrate how to prepare basic financial statements
- Demonstrate how to account for purchase and sale of merchandise
- Demonstrate how to complete the accounting cycle in its entirety
- Demonstrate how cash is accounted for, including petty cash and preparing bank reconciliations.
- Demonstrate how to prepare classified financial statements.
- Demonstrate how to calculate employee wages, deductions, and net earnings.
- Record payroll transactions including payments of federal tax deposits.
V. Topical Outline (Course Content)
Accounting Concepts and Procedures
Debits and credits: Analyzing and Recording Business Transactions
Beginning the Accounting Cycle
The Accounting Cycle Continued
The Accounting Cycle Completed
Bank Procedure and Control of Cash
Calculating Pay and Payroll Taxes: The Beginning of the Payroll Process
Paying, Recording, and Reporting Payroll and Payroll Taxes: The Conclusion of the Payroll Process
Sales and Cash Receipts
Purchases and Cash Payments
Preparing a Worksheet for a Merchandise Company
Completion of the Accounting Cycle for a Merchandise Company
VI. Delivery Methodologies
Required Assignments
One Comprehensive problem from each chapter listed above.
Required Text
College Accounting: A Practical Approach Slater 13th Edition Workbook that goes with above mentioned textbook MyAccountingLab
Required Activities
Merchandising Business Practice Set
Assessment Strategy Narrative
Merchandising Business Practice Set
Specific Course Activity Assignment or Assessment Requirements
One Comprehensive problem from each chapter listed above. Merchandising Business Practice Set