ACC407.W1A1.05.2012

Description:


Total Possible Score: 6.00

Calculates Loss Sharing Percentages, Preliquidation Capital Balances, and Loss Absorption Power (LAP)

Total: 2.00

Distinguished - Accurately calculates the loss sharing percentages, preliquidation capital balances, and loss absorption power for each partner.

Proficient - Accurately identifies the loss sharing percentages for each partner and calculates the partners’ capital accounts. Correctly calculates at least two of the partners’ LAP.

Basic - Accurately identifies the loss sharing percentages for each partner and correctly calculates the capital account balances and calculates at least one partner’s LAP correctly.

Below Expectations - Attempts to calculate the capital sharing account balances and the partners’ LAP, but the calculations contain significant errors.

Non-Performance - The calculation of the loss sharing percentages, preliquidation capital balances, and LAP for each partner is either nonexistent or lacks the components described in the assignment instructions.


Correctly Equalizes the Partners’ LAPs

Total: 2.00

Distinguished - Correctly decreases first Adam's LAP to the next highest level and then both Adam’s and Peter’s LAP to equal Blake’s. Appropriately increases Adam’s and Peter’s capital accounts appropriately.

Proficient - Correctly equalizes the partners’ LAP amounts, but did not follow the sequence of first reducing Adam’s and then reducing both Adam’s and Peter’s balances. Adds correct values to the partners’ capital accounts.

Basic - Equalizes the partners’ LAP accounts, but incorrectly calculates the amounts to add to the partners’ capital balances.

Below Expectations - Attempts to calculate the partners' LAPs, but the calculations contain significant errors.

Non-Performance - The equalization of the partners’ LAP and addition to partners' capital balances is either nonexistent or lacks the components described in the assignment instructions.


Prepares a Summary of Cash Distribution Plan

Total: 1.00

Distinguished - Correctly calculates all partners’ percentages of sharing and details the levels of distributions to creditors.

Proficient - Correctly calculates most of the partners’ percentages of sharing and details the levels of distributions to creditors.

Basic - Correctly calculates at least half of the sharing percentages and the levels of distribution to the creditors. All calculations are present, but they contain minor errors.

Below Expectations - Attempts to calculate the the sharing percentages and the levels of distributions to the creditors, but the calculations contain significant errors.

Non-Performance - The summary of cash distribution plan is either nonexistent or lacks the components described in the assignment instructions.


Quantitative Literacy: Representation

Total: 0.50

Distinguished - Proficiently converted pertinent information into an insightful mathematical representation in a way that contributes to a further or deeper understanding.

Proficient - Competently converted pertinent information into an appropriate mathematical representation.

Basic - Accomplished the conversion of information but outcomes are only partially appropriate or accurate.

Below Expectations - Attempts to accomplish conversion of information but the outcomes are inappropriate or inaccurate.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.


Quantitative Literacy: Calculation

Total: 0.50

Distinguished - Calculations are essentially all successful and adequately all inclusive. Calculations are presented clearly and succinctly.

Proficient - Calculations are mostly all successful and adequately comprehensive to solve the problem.

Basic - Attempted calculation either unsuccessfully or represents only a segment of the calculations required to comprehensively solve the problem.

Below Expectations - Attempted calculations both unsuccessfully and is not comprehensive.

Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions.