ACCT 212 Week 6 Financial Accounting Worksheet

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ACCT 212 Week 6 Financial Accounting Worksheet

 

  • Complete requirements 4–10 on the worksheets.
  • Type your work directly into the worksheets.
  • Save your workbook as “Milestone 2_CourseProject_ ACCT212_YourName.”
  • Don’t forget to submit your workbook by the end of Week 6.
  • In an effort to improve your success in this course, you have the opportunity to resubmit your response to this assignment for a better grade if you show proof of Tutor.com usage within a week after you original grade is posted. Tutor.com is an online tutoring service that provides 24/7 assistance to you, at no additional cost. You can access Tutor.com in the course menu at the left hand side of your screen.

Rubric

Criteria Ratings Pts
This criterion is linked to a Learning OutcomeStep 4: Adjusting Journal Entries
15 to >13.0 ptsExcellent

Journal entries use accurate accounts and amounts; and debits and credits are used correctly.

13 to >12.0 ptsCompetent

Journal entries mostly use accurate accounts and amounts; and debits and credits are used correctly.

12 to >10.0 ptsFair

Journal entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly.

10 to >8.0 ptsPoor

Journal entries have some errors in use of accounts and amounts; and debits and credits are not used correctly

8 to >0 ptsUnacceptable

The submission does not meet this requirement.

15 pts
This criterion is linked to a Learning OutcomeStep 5 and Step 6: Posted and Adjusted Trial Balance
15 to >13.0 ptsExcellent

Posting is correct leading to an accurate trial balance.

13 to >12.0 ptsCompetent

Posting is mostly correct leading to a mostly correct trial balance.

12 to >10.0 ptsFair

Posting has several errors leading to a trial balance with several errors.

10 to >8.0 ptsPoor

Posting is done poorly or not at all, leading to inaccurate or no trial balance.

8 to >0 ptsUnacceptable

The submission does not meet this requirement.

15 pts
This criterion is linked to a Learning OutcomeStep 7.1: Income Statement
10 to >9.0 ptsExcellent

The income statement is prepared completely and accurately.

9 to >8.0 ptsCompetent

The income statement is prepared accurately, but may have some minor errors.

8 to >7.0 ptsFair

The income statement is prepared with several errors.

7 to >6.0 ptsPoor

The income statement is prepared with significant errors.

6 to >0 ptsUnacceptable

The submission does not meet this requirement.

10 pts
This criterion is linked to a Learning OutcomeStep 7.2: Retained Earnings Statement
6 to >5.0 ptsExcellent

The retained earnings statement is prepared completely and accurately.

5 to >4.0 ptsCompetent

The retained earnings statement is prepared accurately, but may have some minor errors.

4 to >3.0 ptsFair

The retained earnings statement is prepared with several errors.

3 to >2.0 ptsPoor

The retained earnings statement is prepared with significant errors.

2 to >0 ptsUnacceptable

The submission does not meet this requirement.

6 pts
This criterion is linked to a Learning OutcomeStep 7.3: Balance Sheet
15 to >13.0 ptsExcellent

The balance sheet is prepared completely and accurately.

13 to >12.0 ptsCompetent

The balance sheet is prepared accurately and mostly, but may have some minor errors.

12 to >10.0 ptsFair

The balance sheet is prepared with several errors.

10 to >8.0 ptsPoor

The balance sheet is prepared with significant errors.

8 to >0 ptsUnacceptable

The submission does not meet this requirement.

15 pts
This criterion is linked to a Learning OutcomeStep 8: Closing Journal Entries
20 to >18.0 ptsExcellent

Journal entries use accurate accounts and amounts; and debits and credits are used correctly.

18 to >16.0 ptsCompetent

Journal entries mostly use accurate accounts and amounts; and debits and credits are used correctly.

16 to >14.0 ptsFair

Journal entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly.

14 to >12.0 ptsPoor

Journal entries have some errors in use of accounts and amounts; and debits and credits are not used correctly.

12 to >0 ptsUnacceptable

The submission does not meet this requirement.

20 pts
This criterion is linked to a Learning OutcomeStep 9 and Step 10: Posted and Post-closing Trial Balance
15 to >13.0 ptsExcellent

Posting is correct leading to an accurate trial balance.

13 to >12.0 ptsCompetent

Posting is mostly correct leading to a mostly correct trial balance.

12 to >10.0 ptsFair

Posting has several errors leading to a trial balance with several errors.

10 to >8.0 ptsPoor

Posting is done poorly or not at all, leading to inaccurate trial balance, or no trial balance was prepared.

8 to >0 ptsUnacceptable

The submission does not meet this requirement.

15 pts
This criterion is linked to a Learning OutcomeBM.UGB.ACCT212.CO3.Adjusting-ClosingACCT212 CO 3: Analyze and record adjusting and closing journal entries in accordance with the accrual basis of accounting.

threshold: 3.0 pts

4 ptsExcellent: The student’s submission fully and properly analyzes the adjusting information, resulting in an accurate adjusted trial balance and financial statements. The submission also contains closing entries that are fully and accurately prepared, resulting in an accurate post-closing trial balance. 3 ptsCompetent: The student’s submission analyzes the adjusting information, resulting in a mostly accurate adjusted trial balance and financial statements. The submission also contains closing entries that are accurately prepared, resulting in a mostly accurate post-closing trial balance. 2 ptsFair: The student’s submission demonstrates analysis of the adjusting information and the preparation of an adjusted trial balance and financial statements, although several errors exist. The closing entries are prepared with several errors, resulting in the completion of a post-closing trial balance, that has limited accuracy. 1 ptsPoor: The student’s submission demonstrates limited analysis of the adjusting information and the preparation of an adjusted trial balance and financial statements, however significant errors exist. The closing entries are prepared with significant errors, resulting in an inaccurate post-closing trial balance. 0 ptsUnacceptable: The student’s submission does not meet the criteria of the outcome.
4 pts
Total Points: 100