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iRubric: Comprehensive Problem rubric

iRubric: Comprehensive Problem rubric

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Comprehensive Problem 
Comprehensive Problem
College Accounting MCA II
Rubric Code: U6BX54
By prlaf61
Draft
Private Rubric
Subject: Accounting  
Type: Assessment  
Grade Levels: 9-12, Undergraduate

Powered by iRubric Comprehensive Problem
  Exceeds Standard

8-10 pts

10 pts

Meets Standard

5-7 pts

7 pts

Below Standard

0-4 pts

4 pts

Journals
Transactions, Adjusting entries and closing entries.
Accuracy
10 %

Exceeds Standard

Amounts entered are the same as the transaction amounts in the worksheet.
Meets Standard

Amounts entered are mostly the same as the transaction amounts in the worksheet, only occasional mistake
Below Standard

Amounts entered do not match the transaction amounts in the worksheet.
Format and Appearance
10 %

Format is consistant with FASB
Exceeds Standard

All dates are provided and correct, debits come before credits in every transaction.
Meets Standard

2 or 3 dates are not provided or dates provided are incorrect, format is mostly correct
Below Standard

No dates are provided, format is incorrect (i.e. credits before debits)
Financial Statements
Format is consistant with FASB
Income Statement
20 %

Format is consistant with FASB
Exceeds Standard

Heading is correct, all accounts are present and appear in correct order, rules are used properly, net income(loss) is accurate. Abbreviations are minimal.
Meets Standard

Heading is mostly correct, all accounts are present and appear in mostly correct order, rules are used properly in most instances. Abbreviations are widely used.
Below Standard

Heading is missing or incorrect, accounts appear out of order,rules are not used properly, net income(loss) is incorrect. Abbreviations are widely used
Statement of Retained Earnings
20 %

Format is consistant with FASB
Exceeds Standard

Heading is correct, parts appear in correct order, rules are used properly, ending capital is accurate. Abbreviations are minimal.
Meets Standard

Heading is mostly correct, all parts are present and appear in mostly correct order, rules are used properly in most instances. Abbreviations are widely used
Below Standard

Heading is missing or incorrect, items appear out of order, rules are not used properly, ending capital is wrong. Abbreviations are widely used
Balance Sheet
20 %

Format is consistant with FASB
Exceeds Standard

Heading is correct; all items are present, classified correctly, and appear in correct order; rules are used properly; ending totals are accurate. Abbreviations are minimal.
Meets Standard

Heading is mostly correct; all items are present, classified correctly, and appear in mostly correct order; rules are used properly in most instances.Abbreviations are widely used
Below Standard

Heading is missing or incorrect; items are classified incorrectly and appear out of order; rules are not used properly; ending totals are wrong. Abbreviations are widely used
Post Closing Trial Balance
20 %

Format is consistant with FASB
Exceeds Standard

Heading is correct; all items are present, classified correctly, and appear in correct order; rules are used properly; ending totals are accurate. Abbreviations are minimal.
Meets Standard

Heading is mostly correct; all items are present, classified correctly, and appear in mostly correct order; rules are used properly in most instances. Balances are accurate. Abbreviations are widely used
Below Standard

Heading is missing or incorrect; items are classified incorrectly and appear out of order; rules are not used properly; ending totals are wrong. Abbreviations are widely used



Keywords:
  • Financial Accounting-Warren & Reeves



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