Lesson on pluses and minuses. Use one item to represent positive and one negative. Use one side of board to add and one to subtract. Discuss how credits can be positive items and debits can be negative and what happens when we add and subtract each.
This lesson includes a Club Knowledge Inventory. Depending on the student’s answers, determine if a lesson on clubs is required, with particular focus on what the Treasurer’s responsibilities are.
Review Vocabulary with the student: credit, debit, asset, liability, balance sheet, club dues, fees, accounting, balance, ledgers, bookkeeping, treasurer
Access the students prior knowledge about club structure using the “Club Knowledge Inventory” sheet. The student should complete the sheet using their media of choice.
Using the What is a Credit and Debit Worksheet brainstorm with the student what things would be considered debits and credits for a club. Either have the student record using their media of choice or create a master list for later use.
After the student is confident in understanding credits vs. debits together with the student complete the Sample Ledger using the credit and debit amounts found in the Credit and Debit Worksheet
Once the student is successful in completing the Sample Ledger with the teacher, he/she should independently complete a ledger with the credits and debits found in the Club Treasurer Accounting Worksheet. Use the student’s media of choice.
As a final assessment the student should explain how credits are plus entries and debits are minus entries on the Sample Ledger.