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JACKSON COMMUNITY COLLEGE
PRINCIPLES OF ACCOUNTING I
ACCOUNTING 231
WINTER 2007
Instructor: Suzanne E. McKee, CPA, MBA Phone: (517) 796-8608
E-Mail: mckeesuzannee@jccmi.edu Office: Whiting 219
GENERAL INFORMATION:
Background: In ACC 231, you will learn about the age-old accounting system first made
popular in the 15th century by a Franciscan monk still in use today with the help of
technology. You will prepare financial statements, learn about accounts such as assets and
liabilities and get lots of practice recording transactions.
Prerequisites: basic math & writing skills, MTH 110, ENG 085, ENG 090
Required Text Materials: Accounting, Warren, Reeve and Fess, 22nd edition
Other Required Materials: simple calculator, pencils and computer access
Methods to achieve objectives: discussion, lecture, mutual explanation, team problem
solving, group practice work, individual homework, quizzes, examinations, special
projects and practical application of the text
JCC Associate Degree Outcomes (ADO’s): The Board of Trustees of Jackson Community
College has determined that all JCC graduates should develop or enhance certain essential
skills while enrolled in the college. These ADO’s are described below in the Course
Objectives for ACC 231.
Course Objectives:
1. analyze and record business transactions and financial statements (OCC 2)
2. compute end of the period closing, adjusting and reversing entries (ADO 3.1)
3. understand and use the systems concept including A/R and A/P systems (ADO 3.1)
4. calculate and interpret basic financial statement ratios (ADO 3.1)
5. explain fundamental accounting concepts and principles (ADO 2)
6. demonstrate critical thinking skills in problem solving (ADO 4)
Cell Phones: Please make sure to turn off your cell phone ringer before joining our class.
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Project Success Day: On Tuesday, 2/6/07, JCC cancels classes and encourages students to
attend Project Day. This is a special day of workshops and seminars with your college
success in mind. You are strongly encouraged to attend.
Center for Student Success: Tutors (plus additional services for academic success) can be
accessed by calling 796-8415 or by stopping by the Center for Student Success, Bert Walker
Hall Room 123. Students requiring special assistance (including those affected by the
Americans with Disabilities Act) should contact the Center for Student Success. This is the
first step in acquiring the appropriate accommodations to facilitate your learning.
COURSE INFORMATION:
Class Meeting: Monday & Wednesday from 9:00 to 10:55 AM in JW 101
Office Hours: Monday & Wednesday from 1:00 to 3:00 PM in Whiting 219. Tuesdays,
Thursdays and Fridays by appointment.
Attendance & Participation: Your regular attendance and active involvement in our class
will directly correlate to how well you do with this class. If you attend every class, work
on all class activities and complete all assignments, you will do very well with ACC 231.
Academic Honesty: Be careful not to plagiarize. Plagiarism is defined in The American
Heritage Dictionary as “…using another’s ideas as one’s own…” All assignments related
to this class are to be your own work. On page 17 of the 2006-7 JCC Catalog, academic
honesty is defined as “ …the ethical behavior that includes (students’) producing their
own work and not representing others’ work as their own…” The consequences of
academic dishonesty include failure for the assignment and/or failure in the course overall.
Due Dates & Late Work: All assignments are due at 9:00 AM at the beginning of class on
the date due. See below for a detailed schedule of assignments and due dates.
Assignments turned in one day will be reduced by 25%. Two days late – 50%. Three days
late - 75%. Four days late – 100% or a Zero for the assignment. Remember to take
advantage of e-mail.
Homework: Homework will be assigned for each chapter of material and is required to be
prepared using Microsoft Excel. Homework will usually be due on Monday mornings.
Worksheets: There is a worksheet for each chapter. These worksheets are for you to use
as you work through new ideas, terminology and problems in the textbook. These
worksheets are also an excellent tool for you to use in preparing for tests. Worksheets will
usually be due on Wednesday mornings.
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Comprehensive Problems (Course Projects): We will all complete Comprehensive
Problem #1, due on 3/14/07. You have your choice of completing either Comprehensive
Problem #2, due on 4/11/07 or Comprehensive Problem #3, due on 5/7/07. Both
Comprehensive Problems must be completed using Excel.
Tests: There will be 4 tests on Wednesdays covering about 3 chapters of material each.
You can always arrange to take an exam early. Plan ahead to attend all test dates.
E-Mail/Computer Caution: Always sign your e-mails with your first and last name.
Please put “ACC 231” in the subject line of your e-mails. Always save your work and
have a back-up copy. Please ask questions and get help early with any concerns you may
have including computer problems. Call, e-mail, stop by…I am here to help you!
GRADING POLICY:
Requirements: Grading Scale:
4.0 A 93-100%
Homework – 10 @ 20 points 200 3.5 AB 88-92%
Tests – 4 @ 100 points each 400 3.0 B 83-87%
Comp Problems – 2 @ 100 100 2.5 BC 78-82%
Participation 25 2.0 C 73-77%
Final Exam 75 1.5 CD 68-72%
1.0 D 63-67%
0.5 DF 58-62%
Total Points Available 800 0.0 F 0-57%
Note: This syllabus is not a contract: it is a plan for the course. Each course and each
group of students is unique. We may do more or less work than is outlined above. Total
points in the course may be altered to reflect the dynamics of our class.
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ACC 231 – WINTER 2007 - SEMESTER SCHEDULE
Week # Class Dates Chap. Focus Homework PG# Due Date
1 1/8 & 1/10 1 Financial Statements PR1-2A, 3A, 4A, SA1-1 38, 39, 45 1/17
NO CLASS MONDAY 1/15/07 M.L.KING DAY!
1.5 1/17 only 2 Journal Entries PR 2-1A 91 1/22
2.5 1/22 & 1/24 2 Journal Entries PR 2-4A, SA 2-1 92, 100 1/29
3.5 1/29 & 1/31 3 Adjusting Entries PR3-1A, 2A, 5A, SA3-1 133, 135, 141 2/5
NO CLASS TUESDAY 2/6/07 PROJECT SUCCESS DAY!
4.5 2/5 & 2/7 review Test #1 Begin CP1 199 3/14
5.5 2/12 & 2/14 4 The Work Sheet PR 4-6A, SA 4-1 192, 200 2/19
6.5 2/19 & 2/21 5 Journals PR 5-5A, SA 5-1 241, 246 2/26
7.5 2/26 & 2/28 review Test #2 Complete CP1 199 3/14
NO CLASS 3/5/07 – 3/9/07 SPRING BREAK!
COMP PROBLEM #1 DUE ON WEDNESDAY 3/14/07
8.5 3/12 & 3/14 6 Merchandising PR 6-1A, 5A, SA 6-1 296, 297, 304 3/19
9.5 3/19 & 3/21 7 Inventory PR 7-1A, 2A, SA 7-1 339, 340, 344 3/26
10.5 3/26 & 3/28 8 Cash PR 8-3A, PR 8-5A, 383, 384, 389 4/2
Handout, SA 8-1
11.5 4/2 & 4/4 review Test #3 Work CP2 303 4/11
COMP PROBLEM #2 DUE WEDNESDAY 4/11/07
12.5 4/9 & 4/11 9 Receivables PR9-1A, 2A, 4A, SA9-1 425, 427, 431 4/16
13.5 4/16 & 4/18 10 Depreciation P10-2A, 3A, 4A, SA10-1 472, 476 4/23
14.5 4/23 & 4/25 11 Current Liabilities PR 11-1A, 5A, SA 11-1 513, 514, 522 4/30
15.5 4/30 & 5/2 review Test #4 Work CP3 520 5/7
COMP PROBLEM #3 DUE MONDAY 5/7/07
16 5/7 only final Final Exam REVIEW n/a n/a
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Principles of Accounting 231
Warren Reeve Fess text, 22nd edition
Course Resources
www.thomsonedu.com/accounting/warren
This website will be an important course resource. Honestly, the site is like a treasure
chest of materials designed with student success in mind. Mark this site as a “favorite” on
your computer and consider it your study buddy, study guide, and virtual TA (teacher
assistant). Here’s how to use it and what you will find…
#1 Open the website above
Find the picture and title of our textbook “Accounting”
Find the red heading “Students”
Click on “Companion Site”
#2 Select a chapter using the dropdown in the upper left hand corner
Find the following resources in the left hand toolbar:
E-Flashcards
List of terms and definitions
Practice quiz
Excel templates for most problems
Other downloads
www.jccmi.edu (Online Classes / Educator)
Please refer to Educator for:
Grades
Announcements
Excel template files
Other files for our course
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ACC 231
Schedule of Assignments – Warren 22e
Principles of Accounting I
Winter 2007
Chapter 1 Homework Assignment:
* PR 1-2A 38 Financial statements
* PR 1-3A 38 Financial statements
* PR 1-4A 39 Fin. statements with transactions
SA 1-1 45 Ethics case
Chapter 2 Homework Assignment:
* PR 2-1A 91 T-accounts & Trial Balance
* PR 2-4A 92 Gen-Journal, G-L, Trial Balance
SA 2-1 100 Ethics case
Chapter 3 Homework Assignment:
PR 3-1A 133 Adjustments
PR 3-2A 133 Adjustments
* PR 3-5A 135 Adjustments, Adjusted Trial Balance
SA 3-1 141 Ethics case
Chapter 4 Homework Assignment:
* PR 4-6A 192 Complete accounting cycle
SA 4-1 200 Ethics case
Chapter 5 Homework Assignment:
PR 5-5A 241 Spec-Journals to Trial Balance
SA 5-1 246 Ethics case
Chapter 6 Homework Assignment:
* PR 6-1A 296 Gross Profit Income Statement+
PR 6-5A 297 Inventory Transactions
SA 6-1 304 Ethics case
Chapter 7 Homework Assignment:
* PR 7-1A 339 FIFO Inventory Schedule
* PR 7-2A 340 LIFO Inventory Schedule
SA 7-1 344 Ethics case
Chapter 8 Homework Assignment:
* PR 8-3A 383 Bank reconciliation
* PR 8-5A 384 Bank reconciliation
Instructor to provide n/a Internal control case
SA 8-1 389 Ethics case
Chapter 9 Homework Assignment:
PR 9-1A 425 Bad debt transactions
* PR 9-2A 425 Aging schedule
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PR 9-4A 427 Notes receivable transactions
SA 9-1 431 Ethics case
Chapter 10 Homework Assignment:
* PR 10-2A 472 Depreciation calculations
* PR 10-3A 472 Depreciation calculations
* PR 10-4A 472 Depreciation calculations
SA 10-1 476 Ethics case
Chapter 11 Homework Assignment:
PR 11-1A 513 Other liability transactions
* PR 11-5A 514 Payroll register
SA 11-1 522 Ethics case
* Excel template file provided at http://www.thomsonedu.com/accounting/warren
Comprehensive Problems:
Comprehensive Problem #1 199 Basic accounting cycle
Comprehensive Problem #2 303 Accounting cycle with inventory
Comprehensive Problem #3 520 Special topics
Key pages for ACC 231:
Basic financial statements 20
Basic accounting cycle 65-72
Adjustments 118
Full accounting cycle 146-159
Multi-step Income Statement 253
Report-form Balance Sheet 257
Bank Reconciliation 365
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All Courses
Extra Credit Options
Suzanne McKee
Choose one of the following three options…
Project Success Day:
1. Go to http://www.jccmi.edu/success/projectsuccess.htm and make plans
2. Attend a Project Success Day event at JCC
3. Write a 1 page minimum paper describing what your learned and what you will do
with the information you gained from Project Success Day
Credit Cards:
1. Go to http://www.pbs.org/wgbh/pages/frontline/shows/credit/
2. Watch the PBS Frontline special “Secret History of the Credit Card”
3. Write a 1 page minimum paper describing what your learned and what you will do
with the information you gained from this documentary
Enron Documentary:
1. Go to a video rental store or library and rent “Enron: The Smartest Guys in the
Room” (2005)
2. Watch the Enron documentary (WARNING: it is rated R)
3. Write a 1 page minimum paper describing what happened to Enron and what you
learned from this documentary
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