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| Jaclyn Kessler - Ch.16
Jaclyn KesslerAccounting IChapter 16 5 Day Lesson
Plan Day 1 Objectives: Students
will be able to: 1.
Define the terms that are associated with chapter. 2.
Identify concepts related to an income statement
for a merchandising business organized as partnership. 3.
Understand and calculate the Cost of Merchandise
Sold for an income statement. 4.
Prepare an income statement. 5.
Understand component percentages and how they
relate to a merchandising business. Assumptions: 1.
This is a 50-class minute period. 2.
Students understand how to prepare an income
statement for a service business organized as a proprietorship and will be able
to relate that information to a merchandising business. 3.
Students have just completed Chapter 15 and are
ready to move on. Materials Needed: Pen, marker, overhead marker, pencils, chalk, chalkboard, eraser, textbook (teacher’s edition), workbook, overhead, transparencies #1, #2, #3, #4, #5, #6, damp cloth, handouts: “Rules for Figuring Out Cost of Merchandise Sold”, “A to Z Auto Parts Worksheet”, “Blank Income Statement”, Cost of Merchandising Sold examples”, “Chapter 16 Vocabulary”, and “Component Percentages for a Merchandising Business, class attendance sheet, grade book, ruler, and calculator. Procedure (min): 1.
Take attendance (2 min.) Quickly scan the seating chart and make sure everyone is there. Mark any students that are not there as absent. 2.
Introduce Chapter 16 (5 min.) Welcome the class back. Make sure that everyone has the handouts for the day. Tell them that Chapter 15 tests will be handed out at the end of the class period. Introduce Chapter 16 and ask students to give you a definition for Cost of Merchandise Sold. Refer them to them green handout. Have students explain why this section may be important. Show the class the two transparencies on income statements. (proprietorship income statements transparency #1 and partnership income statement transparency #2). Point out how these two statements look different from each other. 3.
Snicker Bar Example (7 min.) Refer to the blue handout and explain the Cost of Merchandise Sold section. Go through the Snicker Bar Example. Pass out the candy bars before the start of class. Use one of the students as my partner. Explain that we started out with 38 candy bars at a $1 a piece. Then go on to explain that we had to buy 34 more candy bars at $1 a piece. Tell the students that at the end of the day we noticed that there were only xxx candy bars left. From there tell the students that you must see how much merchandise was actually was sold today. Put transparency #3 on the overhead. Have a student read off each step and as each step is read fill in the Snickers Bar example. Do this while the candy bars are going around the second time. 4.
Cost of Merchandise Sold Examples (7 min.) Have the students pull out the purple sheet and put transparency #4 on the overhead. Have a student read the example and ask other student to help fill in the appropriate amounts. Do this for all four examples. Check to make sure that all students have their questions answered. Then move on to filling in an income statement. 5.
A to Z Auto Parts Income Statement (10 min.) Have the students open up their workbooks to this example and refer them to the A to Z Auto Parts Worksheet. Let students know that this is what they will be using to complete their income statement. Have the students help you fill in the income statement on the overhead, transparency #5. Ask them what the first thing is that they do when completing the income statement. Then have them help you fill out the body of it. Ask them if they know what columns certain numbers go in to make sure that they understand that the first column is for amounts and the second column is for totals. Help them fill in the cost of merchandise sold section. Refer them back to the handout (blue) “Steps for Figuring Out Cost of Merchandise Sold” to help them complete the section. Have students define Gross Profit on Sales. 6.
Component percentages (7 min.) Have students refer to the red handout and put transparency #6 on the overhead. Refer back to Chapter 8 when they first learned about component percentages and talk about the new percentages that will be figured out. Refer back to the A to Z Income Statement to figure out these transparencies. Put transparency #5 back on the overhead and figure out the component percentages. Ask for questions. 7.
Hand back Chapter 15 tests (7 min.) Hand back the tests. Go over the answers to the tests and have anyone who has a question come and see me after class. 8.
Assign Homework (5 min.). Have students prepare the income statement and component percentages for Electron Games in their working papers 9.
Evaluation Did I go over the material to fast? Should I have spent more time on the discussion? What needs to be improved upon for the next lesson?
What went well?
Comments:
Day 2 Objectives: Students will be able to: 1.
Know how to complete Distribution of Net Income and
Owners’ Equity Statements. 2.
Understand how to complete a Balance Sheet
organized as a partnership for a merchandising business. Assumptions: 1.
Students remember how to complete Owner’s Equity
and Balance Sheet Statements for a sole proprietorship. 2.
Students know how to complete the Income Statement
for a partnership. Materials Needed: Pen, marker, overhead markers, pencils, chalk, chalkboard, eraser, textbook (teacher’s edition), answer keys, workbook, overhead, damp cloth, class attendance sheet, grade book, ruler, calculator, and transparencies #1, #2, #3, #4, #5, #6, #7, and #8 Procedure (min.): 1.
Take attendance (2 min.) Quickly scan the seating chart and make sure everyone is there. Mark any students that are not there as absent. 2.
Go over homework (5 min.) Place transparency #1 on the overhead. Go over Electron Game’s Income Statement. See if anyone has anyone questions. Then place transparency #2 on the overhead. Go over the component percentages for this company. Again, see if anyone has any questions. 3.
Introduce Distribution of Net Income Statement (5 min.) Explain what this statement is used for and how the statement is set up. Place transparency #3 on the overhead to help explain this section. Then go over the Distribution of Net Income for A to Z Auto Parts, transparency #4. Have students help you fill it in. See if there are any questions. 4.
Introduce Owners’ Equity Statement (7 min.) Put transparency #5 on the overhead. Explain to students why this section is different from a sole proprietorship. Go over the Owners’ Equity Statement for A to Z Auto Parts, transparency #4 again. Ask for questions. 5.
Introduce Balance Sheet (10 min.) Place transparency #6 on the overhead and explain to students that this is what the balance sheet looks like for a sole proprietorship. Then place the balance sheet for a partnership on the overhead, transparency #7. Discuss the differences between the two. Complete the balance sheet for A to Z Auto Parts, transparency #8. Again, ask for questions. 6.
Assign Homework (21 min.) Have students complete the Distribution of Net Income, Owners’ Equity, and Balance Sheet statements for Electron Games in the working papers. Assign Problem 16.1 and 16.2. 7.
Evaluation Did I go over the material to fast? Should I have spent more time on the discussion? What needs to be improved upon for the next lesson?
What went well?
Comments:
Day 3 Objectives: Students
will be able to: 1.
Complete the financial statements for a
merchandising business on their own. 2.
Explain how these financial statements differ from
those of a service business. Assumptions: 1.
Students understand how to complete these financial
statements. 2.
Students are ready to work on their own to complete
these financial statements. Materials Needed: Pen, marker, overhead marker, pencils, chalk, chalkboard, eraser, textbook (teacher’s edition), answer keys, workbook, overhead, overheads: damp cloth, class attendance sheet, grade book, ruler, and calculator, transparencies #1, #2, #3, #4, #5, #6, #7, #8, and #9, Handout: Study Guide 16. Procedure (min.) 1.
Take attendance (2 min.) Quickly scan the seating chart and make sure everyone is there. Mark any students that are not there as absent. 2.
Go over assigned homework (15 min.) Put transparency #1 on the overhead. Have students compare their answers with the ones on the overhead. See if anyone has questions on the Distribution of Net Income Statement for Electron Games. Have students compare their Owners’ Equity Statement with the one on the overhead for Electron Games. Call for questions. Next, put transparency #2 on the overhead. Have the students compare their balance sheets with the one on the overhead for Electron Games. See if they have any questions. Move on to Problem 16.1 and put transparency #3 on the overhead. Ask students to explain what they did. Finally, move on to Problem 16.2 and display the answers on the overhead (transparencies #4 and #5). Go over how the component percentages were determined and see if the students have any questions. 3.
Work on Problems 16.3-16.5 with students (15 min.) Have the students open up their books to page 415 and open up their working papers to those corresponding problems. Display the blank transparencies #6 and #7 for 16.3 on the overhead. Work with students on preparing the distribution of net income and owners’ equity statements. See if they have any questions. Then move on to Problem 16-4. Display the blank transparency #8 on the overhead. Have students help you fill out the owners’ equity statement. See if there are any questions. Finally display the blank transparency #9 for Problem 16.5 on the overhead. Ask students to help you fill out the balance sheet. Again, ask for questions. 4.
Assign homework (18 min.) Have the students complete the Master Problem for Chapter 16 in their working papers. Also, assign Section A of the Study Guide for them to complete. 5.
Evaluation Did I go over the material to fast? Should I have spent more time on the discussion? What needs to be improved upon for the next lesson?
What went well?
Comments:
Day 4 Objectives: Students
will be able to: 1.
Complete financial statements on their own. 2.
Feel prepared to complete the Chapter 16 test
tomorrow. Assumptions: 1.
Students have had all their questions answered. 2.
Students are prepared for class. 3.
Students have completed their homework. Materials Needed: Pen, marker, overhead marker, pencils, chalk, chalkboard, eraser, textbook (teacher’s edition), workbook, overhead, overheads: damp cloth, class attendance sheet, grade book, ruler, and calculator, transparencies #1, #2, #3, #4, #5, #6, and #7 Procedure (min.) 1.
Take attendance (2 min.) Quickly scan the seating chart and make sure everyone is there. Mark any students that are not there as absent. 2.
Go over assigned homework (10 min.) Display answers to the Mastery Problem on the overhead, transparencies #1, #2, #3, and #4. After each transparency is put on the overhead ask the students if they have any questions. Then display the answers to the study guide, Section A, on the overhead (transparency #5). Go over the answers and see if any students have a question. 3.
Assign the study guide (10 min.) Have students work in pairs to complete the study guide that was handed out to them. Walk around to see if any students have questions. 4.
Review Study Guide (7 min.) Display the answers to the study guide on the overhead, transparency #6 and #7. Go over how the answers were figured out and see if any of the students have any questions. 5.
Ethics Cases (10 min.) Have the students open up their books to page 411. Have students read the different cases out loud to the rest of the students. Discuss each case and how ethics plays a part. 6.
Review for test (11 min.) Have the students study for the test on their own. See if any of them have questions. 7.
Evaluation Did I go over the material to fast? Should I have spent more time on the discussion? What needs to be improved upon for the next lesson?
What went well?
Comments:
Day 5 Objectives: Students
will be able to: 1.
Demonstrate their knowledge of financial statements
for a merchandising business organized as a partnership. 2.
Utilize a worksheet to demonstrate this knowledge
on a test. Assumptions: 1.
Students are prepared to show their knowledge by
taking the Chapter 16 test. 2.
Students will have all their questions answered
before the test is given to them. Materials Needed: Pen, pencil, marker, overhead marker, overhead, all transparencies used to teacher Chapter 16, study guide, textbook (teacher’s edition), working papers damp cloth, grade book, chalkboard, eraser, class attendance sheet, Chapter 16 tests, calculator, ruler, chalk, chalkboard, eraser Procedure (min.) 1.
Take attendance (2 min.) Quickly scan the seating chart and make sure everyone is there. Mark any students that are not there as absent. 2.
Call for questions (15 min.) Ask the students if they have any last minute questions before they take the Chapter 16 test. Quickly go over any questions they may have. 3.
Test (43 min.) Tell the students that their assignment for the weekend will be put on the chalkboard as they are taking their test. Hand out the tests to the students. As they are taking their test write on the chalkboard their assignment for the day. Assign Chapter 17 to students and ask them to read it over the weekend. As students finish with the test have them begin reading Chapter 17. Collect any tests that are still out at the end of the class period. 4.
Evaluation Did I give enough time to go over questions they had? Should I have spent more time in explaining answers
to them?
What needs to be improved upon for the next test?
What went well?
Comments:
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