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iRubric: Accounting Cycle Documentation -Part 1 rubric

iRubric: Accounting Cycle Documentation -Part 1 rubric

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Accounting Cycle Documentation -Part 1 
Accounting Cycle Documentation -Part 1
Using text, perform the following: 1. Evaluate the student's knowledge of accounting cycle 2. Demonstrate the use of documentation 3. Understand a complex accounting problem.
Rubric Code: L94WX2
By drbelli
Ready to use
Public Rubric
Subject: Accounting  
Type: Assessment  
Grade Levels: Undergraduate

Powered by iRubric GRID
  10

(N/A)

8

(N/A)

6

(N/A)

2

(N/A)

Accounting Formula & its use
10 pts

10 points
10

Has been able to answer all Brief Exercises.
(10 points)
8

Has been able to answer many of the brief excercises
(8.5 points)
6

Has been able to answer few of the brief exercises with few errors
(7.5 points)
2

Transactions appear incomplete due to little understaning (5.5 points)
Discussion of topics in Chapter Two
10 pts

10 points
10

Shows a well developed understanding of the material.
(10 points)
8

Shows a good understanding fo the material.
(8.5 points)
6

Shows a basic understanding of the material.
(7.5 points)
2

Shows little or no understanding of the material; does not ask for clarity; does not part-take in discussion questions.
(5.5 points)
Use of Debits & Credits
10 pts

10

Shows a well developed understanding of the principles of the T account and its relation to a given activity.
(10 points)
8

Shows a good understanding of the principles of the T account and its relation to a given activity.
(8.5 points)
6

Shows a basic understanding of the principles of the T account and its relation to a given transaction.
(7.5 points)
2

Shows little or no understanding of the principles of the T account and its relation to a given transaction; does not ask for clarity; little attempt to gain improvement with material.
(5.5 points)
Journalizing Business Transactions
15 pts

15 points
10

Shows a well developed understanding of the principles of journalizing accurately in the appropriate journal.
(15 points)
8

Shows a good understanding of the principles of journalizing accurately in the appropriate journal.
(12.75 points)
6

Shows a basic understanding of the principles of journalizing accurately in the appropriate journal.
(11.25 points)
2

Transactions appear incomplete. Shows little to no understanding of the principles of journalizing accurately in the appropriate journal.
(8.25 points)
Posting
25 pts

25 points
10

Shows a well developed understanding of the principles of posting.
(25 points)
8

Shows a good understanding of the principles of posting.
(21 points)
6

Shows a basic understanding of the principles of posting.
(19 points)
2

Shows very little understanding of the principles of posting.
(14 points)
Adjusting Entries
10 pts

5 points
10

Adjusting entries are completed with no errors.
(5 points))
8

Adjusting entries are completed with no more than one errors.
(4.25 points)
6

adjusting entries are included and have one error
(3.75 points)
2

Adjusting entries were attempted, but not completed and with several errors.
(2.75 points)
Worksheet
10 pts

10 points
10

The entire worksheet is correctly prepared with no major errors.
(10 points)
8

The entire worksheet is correctly prepared, with no more than one major errors.
(8.5 points)
6

The worksheet is completed but has more than one major error or several smaller errors.
(7.5 points)
2

The worksheet was started but provides little information.
(5.5 points)
Financial Statements
5 pts

5 points
10

All of the financial statements are presented with no major errors.
(5 points)
8

All of the Financial Statements are included with no more than one major error on the complete set.
(4.25 points)
6

Some of the Financial Statements are included. More than two errors on those presented.
(3.75 points)
2

Financial statements were attempted but are basically incomplete.
(2.75 points)
Adjusting/Closing Entries
5 pts

5 points
10

Adjusting and closing entries are completed with no errors.
(5 points)
8

Adjusting and closing entries are completed with no more than one errors.
(4.25 points)
6

Both adjusting entries and closing entries were attempted, but have several errors.
(3.75 points)
2

Only adjusting entries were attempted but have several errors.
(2.75 points)
Post-Closing Trial Balance
5 pts

5 points
10

The post-closing trial balance is correct, with no errors.
(5 points)
8

The post-closing trial balance is correct, with no major errors.
(4.25 points)
6

The post-closing trial balance is complete, but does not balance correctly.
(3.75 points)
2

The post-closing trial was started but is basically incomplete.
(2.75 points)




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