Lesson Plan

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Lesson Plan
Grade: Date: 05/03/2026
Subject: Accounting
Lesson Topic: prepare income statements, appropriation accounts and statements of financial position
Learning Objective/s:
  • Describe the purpose and components of a partnership income statement.
  • Prepare a partnership income statement from given trial figures.
  • Construct a partnership appropriation account, applying interest on capital, salaries, and drawings.
  • Calculate each partner’s share of profit using the profit‑sharing ratio and update capital balances.
  • Prepare a partnership statement of financial position ensuring the accounting equation balances.
Materials Needed:
  • Projector or interactive whiteboard
  • Printed worksheet with trial figures
  • Calculator or spreadsheet software
  • Sample partnership ledger excerpts
  • Whiteboard markers and erasers
 Introduction:
Begin with a quick recap of how sole‑trader accounts are prepared, then pose the question: how does profit flow in a partnership? Students recall profit‑sharing ratios and agree on the success criteria – they will produce a complete set of partnership accounts by the end of the lesson.
Lesson Structure:
  1. Do‑now (5'): Short quiz on income‑statement components.
  2. Mini‑lecture (10'): Review partnership concepts, profit‑sharing ratio and the three statements.
  3. Guided practice (15'): Walk through preparing the partnership income statement using the sample data.
  4. Group activity (15'): Construct the appropriation account, calculate interest on capital, salaries, drawings, and allocate profit.
  5. Whole‑class check (10'): Update capital balances and assemble the statement of financial position; verify totals.
  6. Exit ticket (5'): Each student writes one key step to remember for each of the three statements.
Conclusion:
Summarise the flow of profit from the income statement through the appropriation account to the statement of financial position. Collect exit tickets to gauge understanding and assign homework: complete a similar partnership problem using a new set of figures.