LESSON PLAN
Lesson #12
Curriculum: Accounting 10 Module/Unit/Outcome:Chapter 5 Module 4: Banking and Cash Control
|materials/preparation required |
|Projector and slideshows 5-4 |
|Solutions to Work Together and on your own 5-4 |
|Laptop |
|Terms quiz |
|prerequisite learning required |
|Students require knowledge and experience with basic math skills (adding/subtracting) |
|Students should possess knowledge of basic accounting concepts and principles such as what the accounting cycle is, debits, credits, source documents, etc |
|Students should possess the ability to follow basic directions |
|Students have already completed 5-1, 5-2, and 5-3 work together and on your own |
|target for professional growth |
|Explaining/Concept Attainment – Because students are unfamiliar with petty cash, I want to ensure that I explain the steps to establishing and replenishing |
|petty cash properly. |
|Strategies |
|Demonstration |
|Work together |
| Outcome for this lesson Indicator(s) |
| |After completing the 5-4 slideshow, students will work together as a class|
|In this unit students will learn what checks are and how they relate to accounting|to correctly complete the 5-4 work together problem which focuses on |
|practices. They will learn how to prepare business papers related to using a |establishing and replenishing a petty cash fund. |
|checking account, reconcile a bank statement, journalize dishonored checks, and | |
|establish and replenish a petty cash fund. |After completing the 5-4 work together problem, students will use their |
| |new knowledge to individually complete the 5-4 on your own problem which |
| |focuses on establishing and replenishing a petty cash fund. |
|Students will learn how to establish and replenish a petty cash fund and learn to | |
|proper journalizing of the transaction. |After completing the chapter problems, students will recall their learned |
| |knowledge and apply it to complete application problems 5-1, 5-2, 5-3, and|
| |5-4. |
Lesson Construction:
|Set: (7 minutes) |
|Display the edited 5-4 slideshow. Ask students to write the petty cash definition and explain that it is an asset with a normal debit balance. Explain to |
|the class that a business will usually have some small payments that writing a check would not be cost effective or time effective. Use Tourism Example. This|
|small payment amount differs from each business. In the textbook they use under $20. |
|Show students the 4 steps in establishing a petty cash fund. Explain that you would need to take $100 and add it to that fund which would decrease your cash |
|and increase your petty cash. |
|Explain the definition of a petty cash slip and explain that every time a business makes a small payment from the petty cash they must fill the slip out. The|
|slip shows 7 things: |
|Petty cash slip number |
|Date of petty cash payment |
|To whom paid |
|Reason for the payment |
|Amount paid |
|Account in which amount is to be recorded |
|And signature of the person approving the petty cash payment |
| |
|Explain that the petty cash slips are kept in the petty cash box until the fund is replenished. You do not make entries in the journal for the individual |
|petty cash payments; instead you do this when you replenish it. |
|As petty cash is paid out, the amount in the petty cash box decreases. Eventually you have to replenish the petty cash and that is when the petty cash |
|payments are recorded. In the book they replenish the fund whenever it is reduced to $25 and it is always replenished at the end of every month so that all |
|of the expenses are recorded in the month they are incurred. |
|Show them the example of replenishing the petty cash in the slideshow. |
|Three development sections follow; you may need more or less development sections depending on activities/tasks you choose to complete in order to achieve the|
|indicators for this lesson. |
|Development 1: (15 minutes) |What do I need to adapt here to help all students be successful? |
|Complete the 5-4 work together as a class. Ask students to complete the 5-4 | |
|on your own and correct as a class. | |
|Development 2: (30 minutes) | |
|Ask students to complete the 5-1, 5-2, 5-3, and 5-4 application problems. Ask|If students complete their application problems they can continue to work on |
|any students that were absent yesterday to come to the back of the room to |their Chapter 5 Study Guide. |
|write their Chapter 3 and 4 Quiz. | |
| |Check to see if Jade completed the On Your Own 5-2. |
|Closure: (3 minutes) |
|Ask students to tidy up their things and tell them they have no homework that is due tomorrow! |
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