Chapter 2

Recording Departmental Sales and Cash Receipts

ESSENTIAL QUESTIONS

How are journal entries recorded for buying plant assets? How is property tax calculated? How is depreciation expense calculated and journalized using the straight-line depreciation method? A plant asset can be discarded, sold or traded. How would each of these conditions be recorded? How is depreciation expense calculated using the declining-balance method? How is depreciation expense calculated using the sum-of-the-years-digits method? How is depreciation expense calculated using the production-unit method?

TERMS FOR CHAPTER 2

- credit memorandum - sales discount

ASSIGNMENTS

Define Terms for the Chapter Departmental Sales on Account and Sales Returns and Allowances Read pp. 40-47 1) View PowerPoint presentation intro and 2-1 2) Complete Application Problem 2-1 p. 56 3) Work on Study Guide 2 September 24-25 Journalizing and Posting Cash Receipts Read pp. 48-55 1) View PowerPoint presentation 2-2 2) Complete Application Problem 2-2 pp. 56-57 3) Complete Study Guide 2 September 26-29

Complete Mastery Problem 2-3 p. 58 September 30-October 1 Additional Chapter exercises Accounting in Your Career p. 39 International Terms of Sale p. 53 Applied Communication p. 59 October 2-7 Tentative Test Date for Chapter 2 is Thursday, October 9 Challenge Problem 2-4 p. 59 may be completed for extra credit