| Case Study 1 Rubric |
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| Please note that this rubric provides a general guideline but you can score anywhere between 0 |
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| and the maximum number of points for that step depending on the accuracy and completeness |
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| of your work. |
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| Criteria |
Outstanding |
Good |
Poor |
Very Poor |
Points Awarded |
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Step 1 Prepared Journal Entries (20 points) |
Journal entries use accurate accounts and amounts; and debits and credits are used correctly. |
Minor errors such as incorrect account names or credits listed prior to debits. |
Errors in computations that resulted in incorrect amounts to be debited and credited. |
Evidence of an attempt to complete the journal entries. |
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| 20 points |
16 points |
12 points |
8 points |
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Step 2 Posted to the General Ledger (10 pts) |
Posting is correct leading to accurate account balances. |
Posting is mostly correct but minor errors are evident. |
Posting has several errors that resulted in incorrect account balances. |
Posting is done poorly but does show evidence of an attempt to complete. |
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| 10 points |
8 points |
6 points |
4 points |
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Step 3 Prepared a Trial Balance (10 points) |
Correct account names and balances so to arrive at a correct trial balance. |
Some minor errors such as incorrect account names or incorrect totals due to errors in prior steps. |
Errors in computations that resulted in incorrect amounts to be debited and credited. |
Evidence of an attempt to complete the trial balance. |
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| 10 points |
8 points |
6 points |
4 points |
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Step 4 Prepared Adjusting Journal Entries (10 points) |
Journal entries use accurate accounts and amounts; and debits and credits are used correctly. |
Journal entries mostly use accurate accounts and amounts; and debits and credits are used correctly. |
Journal entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. |
Journal entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. |
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10 points |
8 points |
6 points |
4 points |
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Steps 5 and 6 Posted and Prepared an Unadjusted Trial Balance (10 points) |
Posting is correct leading to an accurate trial balance. |
Posting is mostly correct leading to a mostly correct trial balance. |
Posting has several errors leading to a trial balance with several errors. |
Posting is done poorly or not at all, leading to inaccurate or no trial balance. |
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10 points |
8 points |
6 points |
4 points |
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Step 7 Prepared Financial Statements (20 points) |
All three Financial Statements are prepared accurately and in an appropriate format. |
Two of the three financial Statements are prepared accurately and mostly in an appropriate format, one statement has some errors. |
One of the three Financial Statements are prepared accurately and mostly in an appropriate format, two statements have some errors. |
One or fewer of four Financial Statements are prepared accurately and mostly in an appropriate format, three or all statements have some errors. |
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20 points |
16 points |
12 points |
8 points |
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Step 8 Prepared Closing Journal Entries (10 points) |
Journal entries use accurate accounts and amounts; and debits and credits are used correctly. |
Journal entries mostly use accurate accounts and amounts; and debits and credits are used correctly. |
Journal entries have some errors in use of accounts and amounts; and debits and credits are only somewhat used correctly. |
Journal entries have some errors in use of accounts and amounts; and debits and credits are not used correctly. |
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10 points |
8 points |
6 points |
4 points |
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Steps 9 and 10 Posted and Prepared Post-Closing Trial Balance (10 points) |
Posting is correct leading to an accurate trial balance. |
Posting is mostly correct leading to a mostly correct trial balance. |
Posting has several errors leading to a trial balance with several errors. |
Posting is done poorly or not at all, leading to inaccurate or no trial balance. |
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10 points |
8 points |
6 points |
4 points |
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Total Points Earned Out of 100 Points |
0 |
