Unit 6
Accounting and Finance Foundations Unit 6: Journalizing 508
Open-Response Unit Assessment S/T Guide
Skill Standards
Academic:
AB 4 Record information accurately and completely
AD 1 Perform basic and higher level math operations (e.g., addition, subtraction, multiplication,
division, decimals, fractions, units of conversion, averaging, percentage, proportion, ratios)
AD 4 Use tables, graphs, diagrams, and charts to obtain or convey information
AD 5 Use deductive reasoning and problem-solving in mathematics
Accounting:
OB 5 Analyze and record business transactions
OB 6 Explain and apply the accounting process including the accounting cycle, journalizing, accounting
records, posting, and adjustments
Administrative Support:
OA 3 Maintain accounting journal
Super Star Talent Services’ CHART OF ACCOUNTS
Assets (100)
110 Cash
120 Accounts Receiveable
130 Supplies
140 Prepaid Insurance
150 Office Equipment
160 Office Furniture
170 Store Equipment
Liabilities (200)
210 Accounts Payable
Owner’s Equity (300)
310 Maria’s Capital
320 Maria’s Drawing
330 Income Summary
Revenue (400)
410 Sales
Expenses (500)
510 Rent Expense
520 Utilities Expense
Scenario
Super Star Talent Services uses the following Chart of Accounts to record its business transactions. Maria
Gonzales, the owner of Super Star, has hired you to organize and enter the business transactions for the
current accounting period into the general journal and then post the general journal into the summarized
general ledger. After you complete these tasks, Maria also needs you to prepare the trial balance; record
depreciation expense; and prepare the updated trial balance.