Accounting and Finance Foundations

Unit 6

Accounting and Finance Foundations Unit 6: Journalizing 516

Evaluation Criteria

You must score a 3 or 4 on the scenario in order to pass this portion of the assessment.

Scoring Rubric

4

•    Journalizes    all of  the business    transactions    into    the general journal correctly.

•    Posts  to  the summarized  general ledger  correctly.

•    Prepares   the trial   balance correctly.

•    Completes  the journal entry   (voucher)   properly.

•    Prepares   the updated trial   balance correctly.

•    Totals the debits  and credits for the different   accounts    properly    with    no  mathematical    errors.

3

•    Journalizes    most    of  the business    transactions    into    the general journal correctly.

•    Posts  to  the summarized  general ledger  correctly.

•    Prepares   the trial   balance correctly.

•    Completes  most    of  the journal entry   (voucher)   properly.

•    Prepares   the updated trial   balance correctly.

•    Totals the debits  and credits for the different   accounts    properly    with    few mathematical    errors.

2

•    Journalizes    some    of  the business    transactions    into    the general journal correctly.

•    Posts  to  the summarized  general ledger  correctly.

•    Prepares   the trial   balance correctly.

•    Completes  some    of  the journal entry   (voucher)   properly.

•    Prepares   the updated trial   balance correctly.

•    Totals the debits  and credits for the different   accounts    improperly  or  with    many    

mathematical errors.

1

•    Journalizes    few or  none    of  the business    transactions    into    the general journal correctly.

•    Posts  to  the summarized  general ledger  incorrectly.

•    Incorrectly    prepares    the trial   balance.

•    Improperly completes   the journal entry   (voucher).

•    Incorrectly    prepares    the updated trial   balance.

•    Totals the debits  and credits for the different   accounts    improperly  with    numerous    

mathematical errors.

Open-Response Unit Assessment S/T Guide