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Grading Rubric
Systems Understanding Aid Project
200 Points
Points Earned
Balance Sheet
Income Statement
Statement of Cash Flows
Bank Reconciliation
Trial Balances
YE Worksheet
General Ledger
Subsidiary Ledger
General Journal
Special Journals
Total Points

Instructions:
Type your name over the text above!
Enter answers on appropriate tabsyou will only enter #s in gray cells.
When finished, select print and print "entire workbook"

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Points Possible
20
20
24
10
32
18
14
26
14
22
200

Accounts Receivable Aged Trial Balance:


Who initialed the amount due column?
What is the total for the 31-60 column?
What is the customer # for E. Wisconsin Univ?
Accounts Payable Trial Balance:
How many vendors are listed?
What is the total?
How much does Chicago Office Supply owe?
Fixed Asset Trial Balance:
What is the Net Book Value
What is the Net Book Value
What is the Net Book Value
What is the Net Book Value
What is the Net Book Value

for
for
for
for
for

Office Furniture?
Delivery Trucks?
Invetnory handling system?
High-speed copier?
computers?

Post Closing Trial Balance:


Who initialed it?
What are the totals?
What is the cash balance?
What is the balance in accumulated depreciation?

Pts Earned

Pts Possible
2
2
2

2
3
3

2
2
2
2
2

2
2
2
2

Solution

YE Worksheet:
What is the adjusted balance in fixed assets?
In the adjustments column, what amount is debited to purchase returns & allowances?
In the adjustments column, what is the amount debited to federal inc tax exp?
What is the sales balance in the income statement column?
What is the net income per the worksheet?
What is the balance of retained earnings in the balance sheet column?

Pts Earned

Pts Possible
Solution
3
332,590.00
3
19,445.00
3
52,184.99
3 $1,588,571.00
3
129,578.86
3
219,843.85

General Ledger:
Acc #
Question:
10100 What is the
10300 What is the
20500 What is the
20600 What is the
30200 What is the
30400 What is the
41000 What is the

Pts Earned
debit to cash from the cash receipts journal?
amount of the credit entry on 12/31?
balance in this account?
balance in this account?
balance in this account?
balance in this account?
amount of the 2nd to last entry (from the General Journal)?

Pts Possible
2
2
2
2
2
2
2

Solution
108,942.49
26.05
2,236.66
61,111.00
27.50

Accounts Payable Subsidiary Ledger:


Acc #
Question:
252 What is the ending balance?
253 What invoice # did you use for the Dec 26th transaction?
Accounts Receivable Subsidiary Ledger:
Acc #
Question:
408 What date did we receive the payment?
407 What was the amount of invoice #731?
411 How much was written off?
Employee Earnings Subsidiary Ledger:
Employee:
Question:
Ray Kramer
What is the total federal income tax withheld for the year?
Ray Kramer
What was his gross pay on 12/31/2013?
Jim Adams
What was his net pay on 12/31/2013?
Nancy Ford
How much was the FICA for her 12/31 paycheck?
Nancy Ford
How much overtime did she work for the 12/31 pay period?
Fixed Asset Subsidiary Ledger:
Item:
Question:
Delivery Trk
What is the asset's net b13k value at 12/31/2013
Computers
What was the purchase price of the computer?
Computers
How much was the depreciation expense for the computer?

Pts Earned

Pts Earned

Pts Earned

Pts Earned

Pts Possible

Solution
2
2 Vendor Invoice # 2378

Pts Possible
2
2
2

Solution
22-Dec
#VALUE!
2,900.00

2
2
2
2
2

Solution
10,626.04
3,600.00
1,851.42
142.71
5.09

Pts Possible

Pts Possible

Solution
2 34,627.50
2
4,558.00
2
455.80

General Journal:
Entry #: Question:
3 How much was payroll tax expense?
4 What was the credit to accumulated depreciation?
5 How much was the interest payable on the loan?
7 Show me your journal entry for inventory:
Cost of goods sold
Purchases returns and allowances
Purchases discounts taken
Inventory
Purchases
Freight-in
To adjust inventory (to reflect results of
12-31-13 physical inventory) and record cost
of goods sold

Pts Earned

Pts Possible
2
2
2
8

P
P
P
P
P
P

1,024,887.29
19,445.00
16,650.40
96,615.00

Solution
11,528.80
35,109.50
197.26

0.00
1,132,955.00
24,642.69

Sales Journal:
Question:
What was the credit memo # used for E. Wisconsin University?
What is the total of the Sales Returns column?
Cash Reciepts Journal:
Question:
Who initialed the total on the cash column?
What is the total for the Cash column?
What account # did you credit for the $80,000 transaction?
Purchases Journal:
Question:
What account # did you debit for the Dec 31 transaction?
What is the vendor invoice # used for Velocity Sporting Goods?
What is the total credited to Accounts Payable (20100)?
Cash Disbursements Journal:
Question:
What is the amount of the purchase discount for the 12/30 transaction?
On 12/31, we paid for something other than payrollwho did we pay?
On 12/31, we paid for something other than payrollwhat account did you debit?

Pts Earned

Pts Earned

Pts Earned

Pts Earned

Pts Possible
Solution
2 CM 42
2
3,480.00

Pts Possible
Solution
2 Gates University
2
123,007.36
2 First Amer. Bank

Pts Possible
2
2
2

Solution
10800
33965

66,939.15

Pts Possible
Solution
2
366.80
2 University Athletic News
2
40200