Lesson 3: Journalizing & Analyzing Transaction
Duration of Days: 8
Lesson Objective
Will be able to analyze a business transaction into debit and credit parts (double entry) and record financial information into a General Journal (real world accounting record)
1. What financial information should be recorded in the General Journal?
2. Predict how a business might have evidence of business transactions.
3. What is the risk of not recording a sole proprietor’s withdrawal transactions?
4. What other types of forms or records might be used in business?
journal, journalizing, entry, double-entry accounting, source document, check, invoice, sales invoice, receipt, memorandum
*CTE Business & Finance Technology
B. Accounting Principles: Identify and describe generally accepted accounting principles (GAAP/IFRS) and explain how the application of these principles impacts the recording of financial transactions and the preparation of financial statements
3. Define assets, liabilities, equity, revenue, expenses, gains, and losses.
11. Describe and record equity-related transactions.
12. Describe and record revenue-related transactions.
14. Describe and record expense-related transactions.
HS.CTE.2A - 2A. Recall and apply prior knowledge for intended purpose.
The SAT measures student proficiency in math reading, language, and writing. With strong scores, accounting students set themselves up for successful entry into accounting and finance programs.
*Purpose: to identify financial information that should be recorded by analyzing business transactions.
DOK 1: Recall four parts of journal entry
DOK 2: Apply: be able to record transactions in general Journal
Accounting in real world assignments that spotlight a variety of actual business that interest students of all cultures with intriguing questions that connect chapter topics to what's driving business decisions in today's organization.
Misconception: that the information recorded in General Journal can be in any order or that a accountant has a choice on how and when to record information. There are no rules or guidance.
Sampling, modeling, one one instruction, Google classroom or moodle. Handwritten assignments, online instructional tools, videos, real world accounting simulation, textbook, online working papers, excel
Guided Notes worksheet
Guiding questions/term assignment
work together/on own assignment application or mastery working papers
Math assignment
Century 21, Accounting, General Journal, 11th edition, online/paper edition
Online working papers (Mindtap)
Microsoft Excel software
Online instructional tools