Day2-Accountingequation Day3-REandIncomestatement xDay1-REandIncomestatement x1599695158986_Order2713527PM x
ACC201
Chapter 1
In-class exercises
For this exercise, I’m going to walk you through a set transactions and show how each
effects the accounting equation. The first example below the simple version of the
accounting equation, showing only the three basic elements. The next version shows
the two sub-elements of Stockholders’ equity. Lastly, is the fully expanded version of
the accounting equation, showing the expanded sub-elements of Retained earnings. At
the bottom of the page is a flow chart (if you are a visual learner).
The simple accounting equation looks like this, with the three basic elements.
Expanding the accounting equation, shows that Stockholders’ equity is comprised of two
sub-elements: 1) Common stock, and 2) Retained earnings.
The fully expanded accounting equation shows further expansion of the Retained
earnings element of Stockholders’ equity. Note that Retained earnings is comprised of
three components: 1) Revenues, 2) Expenses, and 3) Dividends.
Assets = Liabilities + Stockholders’ Equity
Assets = Liabilities + Common Stock + Retained Earnings
Assets = Liabilities + Common Stock + Revenues – Expenses – Dividends
! 1
ACC201
Chapter 1
In-class exercises
!
Below are a month’s worth of transactions for a company. Using the expanded
accounting equation table, show the effects of these transactions.
June
1
Stockholders invested $10,000 cash in the business in exchange for common
stock.
2 Purchased a used van for deliveries for $14,000. Nancy paid $2,000 cash and signed a note payable for the remaining balance.
3 Paid $500 for office rent for the month.
5 Performed $4,800 of services on account.
9 Declared and paid $300 in cash dividends.
12 Purchased supplies for $150 on account.
15 Received a cash payment of $1,250 for services performed on June 5.
17 Purchased gasoline for $100 on account.
20 Received a cash payment of $1,500 for services performed.
23 Made a cash payment of $500 on the note payable.
26 Paid $250 for utilities.
29 Paid for the gasoline purchased on account on June 17.
30 Paid $1,000 for employee salaries.
! 2
ACC201
Chapter 1
In-class exercises
Assets = Liabilities + Common Stock + Revenues – Expenses – Dividends
! 3
ACCT20
1
Chapter 1
In-class exercises
On May 1, Nimbus Flying School, a company that provides flying lessons, was started with an investment of $45,000 cash in the business. Following are the assets and liabilities of the company on May 31, 2019, and the revenues and expenses for the month of May.
No additional investments were made in May, but the company paid dividends of $500 during the month.
Instructions
(a) Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May 31.
Wyco Park, a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2020.
a. Determine Wyco Park’s net income for 2020.
b. Prepare a balance sheet for Wyco Park as of December 31, 2020.
1
ACC20
1
Chapter 1
In-class exercises
Prepare an income statement and a retained earnings statement for the year ending December 31, 2017.
Presented below is financial information related to the 2019 operations of Louisa Cruise Company. Prepare an income statement.
1
Running Head: DEVELOPMENTAL MODEL OF SUPERVISION 2
DEVELOPMENTAL MODEL OF SUPERVISION 2
Developmental Model of Supervision
Student’s Name
Institution
Developmental Model of Supervision
In educational administration, it is critical to supervise. The efficiency of an education program depends on how well the supervisors who ogive instructions operate. For an education system to succeed or fail, it depends on the means of evaluation and guidance applied in the school. Supervision, therefore, is the primary coordination agency that is applicable in a school or learning setting. Supervision provides a means to combine all the education efforts and come up with appropriate programs for teaching and learning.
As education expands and extends, it is critical to understand and protect the standards. Therefore, supervision is an oversight function whereby a more skilled individual evaluates a learner or subordinate’s performance. Thus, developmental supervision is a method applied in supervising whereby the supervisor has to regulate their operations and communication, and mode of interaction according to the teacher’s needs both professionally and as an adult. Many factors come into play in developmental supervision, such as how teachers operate at different levels of effectivity, understanding, capability. Therefore, supervision must occur according to the needs presented in the situation (Stoltenberg et al., 2014). In the process, teachers develop instincts of self-regulation and learning in a self-directed way.
Developmental supervisors play a role that is more of a facilitator rather than an expert. The facilitator role is, therefore, more collegial, involves cooperation, and is non-directive. Thus, the supervisors apply this approach because of the flexibility since the focus of the system can be shifted to meet the group’s needs at the time. The purpose of using this non-directive approach is to provide a safe platform for teachers to take part in several interlinked activities (Blount & Mullen, 2015). These activities involve setting up objectives and goals, developing self-improvement plans, monitoring progress, and viewing teaching and learning from a critical thinking viewpoint.
The developmental models of supervision are founded on the idea that every individual is continuously growing. This growth is characterized by starts and fits, patterns as well as growth spurts. Therefore, human beings can use their hereditary predispositions in conjunction with experiences to develop and expand growth areas and strengths (Stoltenberg et al., 2014). The purpose of this model of supervision is to focus on the degree of growth required to meet the future. It helps in identifying the development needed, and therefore, the process recurs. The process involves continuously recognizing new growth areas while the learning process itself lasts a lifetime. Individual patters are identifiable in the developmental model of supervision (Blount & Mullen, 2015). These include the scenario where there is a change in the supervisor’s behavior during the period when the supervisees develop experience.
In such a case, the supervisory relationship also changes. There are trends in the development identified during supervision. The developmental model categories depend on the supervisees’ level at the beginning, intermediate, and advanced stages. There is a difference or variation to the next step at every stage due to growth expectations. At the beginning of every stage, there is rigidity and imitation as the supervisee develops into a point where they are more competent, assured, and can rely on themselves in any situation. To maximize supervision’s potential it is critical to pay attention to self and others’ awareness, autonomy, and motivation (Stoltenberg et al., 2014). The typical progress of a supervisee at the beginning involves the dependence entirely on the supervisor.
The developmental models are vital since they can give direction and guidelines on the counseling process and roles (Smith & Koltz, 2015). There are frameworks in place that assist in identifying traits that mostly result from using supervisors with different degrees of operation. Supervisor s can also derive from developmental models strategies to help develop and train the most appropriate environment to foster learning. Conceptualization of the whole supervisory process and this factor helps in understanding factors that may appear complicated. A counselor’s responsibility is to foster an environment that enables the learner or supervisee to channel change among students (Blount & Mullen, 2015). The developmental model, therefore, works best with specific populations such as school setting.
The most important responsibility for a school counselor is to commit oneself to the continuous process of development. In a school environment, the counselor often faces pressure from various directions. Time to focus on the student’s emotional needs can go unused since the counselor must pay attention to career or academic needs (Tanhan, 2018). Refining and further developing counseling skills can assist school counselors in raising their competence. There are domains that are critical in counseling. These include intervention skills, assessment methods, objectives, and treatment plans, and professional morality (Stoltenberg et al., 2014). For a supervisor to assist a counselor in school in self-assessment and, at the same time, avail an environment supporting growth improves the supervisee’s self-confidence and their ability to effectively counsel their students.
The relationship between the supervisor and the supervisee to guide their students effectively allows the counselor to discuss the students’ mental health needs and risks. School supervision is a more personal approach to guidance that results from continuous visits. Such attention is critical in schools when dealing with students, and the best way to provide this is by maximizing the supervisor’s contact with the school.
References
Blount, A. J., & Mullen, P. R. (2015). Development of an integrative wellness model: Supervising counselors-in-training. The Professional Counselor, 5(1), 100.
Smith, A., & Koltz, R. L. (2015). Supervision of School Counseling Students: A Focus on Personal Growth, Wellness, and Development. Journal of School Counseling, 13(2), n2.
Stoltenberg, C. D., Bailey, K. C., Cruzan, C. B., Hart, J. T., & Ukuku, U. (2014). The integrative developmental model of supervision. The Wiley international handbook of clinical supervision, 576-597.
Tanhan, A. (2018). Beginning counselors’ supervision in counseling and challenges and supports they experience: Based on developmental models. Adıyaman Üniversitesi Eğitim Bilimleri Dergisi, 8(1), 49-71.
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