Lesson Topic:

Adjusting Entries for Supplies/Supplies Expense and Prepaid Insurance/Insurance Expense

Lesson Description:

This lesson is designed more to review the adjusting entries for Supplies and Prepaid Insurance. Students will use candy given out by the teacher (or assistant) to visualize the inventory and expense of supplies and prepaid insurance. Instead of candy, other items could also be used (i.e. paper clips, small post-its, rubber bands, etc.).

Learning Goals/Outcomes:

Analyze and explain the adjustments for supplies and prepaid insurance.

Nebraska Standards:

NE.BMM.HS.8.21.G Analyze and record transactions including adjusting, closing, and correcting entries.

Teacher Planning:

Equipment/Materials/Software Needed:

A visual document may be displayed of the paper document that should be distributed to each student. 

Time Required for Lesson:

Assuming there is a brief review of adjusting entries prior to the activity, approximately 30-45 minutes should be allowed for the lesson/activity.

Diagram/Setup:

Each student should be seated at a desk area that he/she can place the candy (item) so it does not interfere with other students' "supplies", etc.

Technology Use:

Software:

NA

Hardware:

NA

Instructional Plan:

Anticipatory Set/Pre-Activity:

Write the accounts Supplies, Supplies Expense, Prepaid Insurance, Insurance Expense on the board and have students take turns writing in account classification (asset/expense), normal balance, plus and minus sides.

Benefits/Explanation/Real-World Connection:

Students enjoy this activity if used with candy/snacks. The activity helps students visualize the activity of the inventory and expense of the accounts. Students should "see" that adjusting entries are necessary with the discrepancy of the account (on the handout) and the number of items in inventory (candy on their desk).

Activities (i.e. instructions, warm-up, lesson, cool-down):

Once the review from the board is completed, hand out the attached document to each student. The ____ (blanks) allow discretion of the teacher to hand out as many tootsie rolls or starbursts that he/she wishes. It also keeps all students on the same step to avoid having students work ahead if the teacher is wishing to emphasize certain concepts as the activity is completed.

Closure:

The teacher has the discretion to complete the activity together, however, a teacher may allow students to "consume" the number they choose or have all students "consume" the same number so that everyone has the same balances at the end of the month (my preference to avoid confusion).

Assessment :

This is a formative activity that students can submit the handout or if time allows have students check their accuracy with the provided visual the teacher may display.

Supplemental Information:

Modifications:

As described, teachers may use candy or small items from the supply cabinet (paper clips, post its, index cards, etc.)

Safety Precautions:

If using candy/snacks, be aware of student allergies; avoid peanut items. I also use "wrapped" candy such as tootsie rolls or starbursts.

Comments (adaptations for various grades/ages, teaching styles, etc.)

NA

Resources:

Possible KEY for adjusting entry activity

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