Finacc3
Submitted by: Submitted by av9r
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Words: 12403
Pages: 50
Category: Business and Industry
Date Submitted: 03/12/2016 06:13 PM
CHAPTER 3
Processing Accounting Information
OVERVIEW OF EXERCISES, PROBLEMS, AND CASES
Exercises
Estimated
Time in
Minutes
Level
1. Explain the difference between an external and an internal event.
1
10
Easy
2. Explain the role of source documents in an accounting system.
2
10
Easy
3. Analyze the effects of transactions on the accounting equation.
3
4
9*
11*
12*
13*
14*
15
15
20
10
10
20
30
Mod
Mod
Mod
Mod
Easy
Mod
Mod
4. Define the concept of a general ledger and understand the
use of the T account as a method for analyzing transactions.
5
9*
10*
11*
12*
10
20
10
10
10
Easy
Mod
Mod
Mod
Easy
5. Explain the rules of debits and credits.
6
7
9*
11*
12*
13*
14*
15*
10
10
20
10
10
20
30
15
Easy
Diff
Mod
Mod
Easy
Mod
Mod
Mod
6. Explain the purposes of a journal and the posting process.
13*
14*
15*
20
30
15
Mod
Mod
Mod
7. Explain the purpose of a trial balance.
8
10*
25
10
Mod
Mod
Learning Outcomes
*Exercise, problem, or case covers two or more learning outcomes
Level = Difficulty levels: Easy; Moderate (Mod); Difficult (Diff)
3-1
3-2
FINANCIAL ACCOUNTING SOLUTIONS MANUAL
Problems
and
Alternates
Estimated
Time in
Minutes
Level
1. Explain the difference between an external and an internal event.
1
5*
20
45
Easy
Mod
2. Explain the role of source documents in an accounting system.
5*
45
Mod
3. Analyze the effects of transactions on the accounting equation.
2
3
4
6*
7*
9*
10*
11*
12*
13*
60
60
60
20
60
30
45
30
75
75
Mod
Mod
Diff
Mod
Mod
Mod
Mod
Diff
Mod
Mod
4. Define the concept of a general ledger and understand the
use of the T account as a method for analyzing transactions.
7*
8*
10*
11**
60
60
45
30
Mod
Mod
Mod
Diff
5. Explain the rules of debits and credits.
6*
7*
9*
10*
11*
12*
13*
20...
