Accounting Lesson 2 Accounting Equation, Debits and Credits, T accounts and Normal Balance Grade Level 11 Subject: Accounting

I Prepared by: Ilene Reed Overview and Purpose Students have previous knowledge of the basic accounting equation a = l + oc + r - e- w/d. Building on that knowledge students will be introduced to debits and credits and comprehend the idea that the information learned in this lesson will be used throughout his/her study of accounting. Students will examine the dual entry system and be able to label a normal balance for each account and know how a transaction affects the accounting equation. Educational Standards: Cassia County School District 151 Standard for Accounting I Standard 1: Understands and applies basic procedures in the accounting cycle. 1-1 Uses the fundamental accounting equation 1-2 Understands the rules of debit and credit 1-3 Understands the nature of the double-entry accounting system http://cassiaschools.org Objectives: Classify accounts into the appropriate component of the accounting equation. (Comprehension Level) Demonstrate how a transaction changes an account in the accounting equation. (Application Level) Calculate the balance of each account after a transaction. (Analysis Level) Create a model of the accounting equation by using his/her hand as a pattern. (Synthesis Level) Evaluate the need or requirement of dual entry to balance the accounting equation. (Evaluation Level) Materials Needed: Textbook Century 21 South-Western Accounting 9th Edition Computer, laptop, tablet. Preferably a computer or laptop with higher speed Internet capabilities. Access to higher speed Internet eWorkbook site downloaded to student computer and connected to cloud storage accessible to the instructor. Other Resources: http.www.dwmbeancounter.com/moodle/mod/resource/view.php?id=4 (game site) Information

1. Welcome and review Review previous lesson on the basic accounting equation. Review homework, answer and clarify any questions. 2. Set the context Explain the need for dual entry system to ensure mistakes are caught and corrected. Have students suggest situations that could happen as a result of just one entry for each transaction. Introduce and explain debit and credit sides of a transaction. 3. Presentation on debit, credit, normal balance Create a normal balance, credit and debit model by having the student trace his/her hand as in this Powerpoint Presentation. https://docs.google.com/presentation/d/10rIAX57JTtyVpkazbmq8Z4mnRcjo1hWj9XXVEycNRaY /edit#slide=id.p 4. Practical application Using the South-Western eWorkbook, students will practice and demonstrate comprehension and mastery of the accounting equation and the debit and credit sides of each account. Students will show the normal balance to each account. Using the eWorkbook student will practice and get immediate feedback. Mastery will be achieved with practice and before student is allow to move on. 5. Review and assessment Students are asked to go to: http:/.www.dwmbeancounter.com/moodle.mod.resource/view.php?id=4 and practice lesson concepts and receive immediate feedback on the assessment. Verification 1. eWorkbook from South=Western Accounting 9th Edition 2. Discussion on the accounting forum 3. Results of gaming and quiz online at Bean Counter 4. Test given on Chapter 2 after lesson 3 Activity The website Bean Counter has a game/quiz for students to have fun while reviewing and assessing the information learned. It is presented in a fun game like way with scores and recordable data. Similar to Hangman the students get a piece of a catapult to fling the student designed teacher. If they get enough correct answers they get to fling the teacher. If they do not get enough correct answers they are invited to try again. This exercise reinforces the lesson objectives and concepts, the student gets to have fun as they practice what they have learned, and eventual mastery is demonstrated during the game. Determine criteria for choosing consequences Students are allowed and even encouraged to collaborate on the worksheets. This is available on the Moodle LMS accounting forum. The games are individually set up for each student assessment and must be completed alone. Students will play and quiz on the game site until

they demonstrate mastery of the concepts. The mastery level will be sent to the instructors class data file. Student will be able to explain why there is a dual entry system in place for accounting, what a debit and credit are, and what a normal balance is. Students will be asked to write in a journal linked to the moodle room for teacher review. Closure: Students are invited to contact the teacher with any questions or problem. Teacher phone numbers and other contact information is given on the Moodle Home Page.