Accounting project

Graded Project: Ice Cream Systems

Once you've completed the project and your one file is ready to be submitted, follow the instructions below. Be sure to check your work and to

upload the correct file.

Your project will be individually graded by your instructor and therefore may take up to five to seven days to grade.

Be sure that each of your files contains the following information:

Your name

Your student ID number

The exam number

Your email address

To submit your graded project, follow these steps:

Log in to your student portal.

Click on Take Exam next to the lesson you're working on.

Find the exam number for your project at the top of the Project Upload page.

Follow the instructions provided to complete your exam.

Be sure to keep a backup copy of any files you submit to the school.

Project Goal

The goal of this graded project is to create the following financial statements for Ice Cream Systems (ICS):

Balance sheet

Income statement

Post-closing trial balance

The financial statements must be created in one Word document (.doc or .docx file). Alternatively, an Excel workbook may be used (.xls or .xlsx

file). A Rich Text Format (.rtf file) may be used by Mac users. The Word, Excel, or Rich Text Format file will be uploaded for grading.

Project Information

Read the following information thoroughly before beginning your work. This will help you become familiar with the project. The material you need

to know to complete the project has been covered in the textbook and in the assigned exercises and problems. If you understood the chapters and

completed the assigned homework problems, you should have no problem with the project.

The project is to be done by hand with a pencil and paper. Use the blank forms provided. (Make as many copies as needed.) At the end of the

project, you'll be given instructions for creating and uploading the financial statements in a Word, Excel, or Rich Text Format file for grading.

Note: It's important to format financial statements properly. They must follow Generally Accepted Accounting Principles (GAAP), which create a

uniformity of financial statements for analyzing. This allows for an easier comparison, as all businesses follow GAAP. Therefore, the financial

statements you create should replicate those in the textbook. Failure to do so will result in a loss of points.

This project references "debits equaling credits." This is a fundamental principle of accounting, and violation of this principle is not acceptable

under any circumstance. If debits don't equal credits, it suggests that someone has "cooked the books" or presented false information. It also

allows for embezzlement. If debits don't equal credits, the cause may be a lack of understanding of accounting principles or carelessness when

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making journal entries, posting to the general ledger accounts, or completing the math. Remember that instructors are available to help you. If

your mistakes are careless, go back over the work slowly until the error is found.

The accounting equation must balance on the balance sheet. This is another fundamental principle of accounting that can't be violated.

Unbalanced equations are completely unacceptable. When the equation doesn't balance, it's easily detectable by someone who knows

accounting, and it suggests the numbers have been "fudged." If your debits equal your credits and you understand which general ledger accounts

belong on which financial statements, then the accounting equation should balance. It's really all about understanding the concepts and applying

that understanding.

The following financial statements are provided for ICS:

1. Chart of Accounts

2. Post-Closing Trial Balance

3. Schedule of Accounts Receivable

4. Schedule of Accounts Payable

5. Schedule of Employer Payroll Taxes Allocation

6. Format for the Income Statement

7. Format for the Balance Sheet

8. Job Cost Record

Chart of Accounts

Assets (1000–1999)

1100 Cash

1200 Accounts Receivable

1300 Direct Materials

1350 Indirect Materials and Factory Supplies

1400 Work in Process

1500 Finished Goods

1600 Prepaid Advertising

1650 Prepaid Insurance

1700 Office Supplies

1800 Factory Equipment

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1800.1 Accumulated Depreciation—Factory Equipment

1850 Office Equipment

1850.1 Accumulated Depreciation—Office Equipment

Liabilities (2000–2999)

2100 Accounts Payable

2200 Salaries Payable

2300 Federal Withholding Tax (FWT) Payable

2325 FICA Tax Payable

2350 FUTA Tax Payable

2375 SUTA Tax Payable

2500 Unearned Revenue

Owner's Equity (3000–3999)

3100 Common Stock ($10 Par)

3150 Paid-In Capital in Excess of Par—Common Stock

3700 Retained Earnings

3900 Income Summary

Revenues (4000–4999)

4100 Sales

4200 Sales Discounts

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Expenses (5000–5999)

5100 Cost of Goods Sold

5150 Factory Overhead

5200 Sales Salaries Expense

5225 Officers' Salaries Expense

5250 Office Salaries Expense

5300 Rent Expense

5350 Advertising Expense

5400 Utilities Expense

5450 Office Supplies Expense

5500 Postage Expense

5550 Telephone Expense

5575 Insurance Expense

5600 Depreciation Expense

5700 Payroll Tax Expense

5800 Bad Debt Expense

5900 Miscellaneous Expense

ICE CREAM SYSTEMS

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Post-Closing Trial Balance

January 1, 20—

ACCOUNT NUMBER DESCRIPTION DEBIT CREDIT

1100 Cash $117,964.23

1200 Accounts Receivable 51,484.00

1300 Direct Materials 64,350.00

1350 Indirect Materials &

Factory Supplies 18,772.00

1400 Work in Process 142,695.00

1500 Finished Goods 27,696.00

1600 Prepaid Advertising —

1650 Prepaid Insurance —

1700 Office Supplies 342.25

1800 Factory Equipment 246,857.00

1800.1 Accumulated Depreciation—

Factory Equipment 99,653.35

1850 Office Equipment 38,567.00

1850.1 Accumulated Depreciation—

Office Equipment 18,845.66

2100 Accounts Payable 9,814.00

2200 Salaries Payable —

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2300 FWT Payable 1,613.11

2325 FICA Tax Payable 822.68

2350 FUTA Tax Payable 1,032.39

2375 SUTA Tax Payable 1,871.20

2500 Unearned Revenue —

3100 Common Stock ($10 Par) 350,000.00

3150 Paid-In Capital in Excess

of Par—Common 32,500.00

3700 Retained Earnings 192,575.09

TOTALS $708,727.48 $708,727.48

ICE CREAM SYSTEMS

Schedule of Accounts Receivable

January 1, 20—

Name Balance

Horsfield Happy Ice Cream $17,345.00

Messina Missions 9,458.00

Ashman Alcove Designs 24,681.00

Day Dreamer's Ice Cream 0.00

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Total Accounts Receivable $51,484.00

ICE CREAM SYSTEMS

Schedule of Accounts Payable

January 1, 20—

Name Balance

O-Ring Enterprises $6,941.00

Smith Synthetics 0.00

Rockaway Metal 2,873.00

OfficeMax 0.00

Total Accounts Payable $9,814.00

ICE CREAM SYSTEMS

Schedule of Employer Payroll Tax Allocation

January 31, 20—

Employer Payroll Taxes

Job Wages FWT

(15%)

FICA

(7.65%)

FUTA

(0.8%)

SUTA

(1.45%)

Total

Employer

Taxes

Net

Pay

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Direct

Labor

Totals

Sales

Salaries

Officers'

Salaries

Office

Salaries

Totals

To obtain the Schedule of Employer Payroll Tax Allocation, go to the Financial Accounting section of the Penn Foster Library and select the Blank

Forms tab.

EXAMPLE COMPANY

Income Statement

For the Period Ending January 1, 20—

Operating Revenue

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Sales $ XX,XXX.XX

Less: Sales Discounts XXX.XX

Total Operating Revenue $ XX,XXX.XX

Cost

COGS—Cost of Goods

Sold XX,XXX.XX

Total Cost XX,XXX.XX

Gross Profit XX,XXX.XX

Expenses

Sales Salaries Expense XX,XXX.XX

Officers' Salaries Expense XX,XXX.XX

Office Salaries Expense XX,XXX.XX

Rent Expense XX,XXX.XX

Advertising Expense XX,XXX.XX

Utilities Expense XX,XXX.XX

Office Supplies Expense XX,XXX.XX

Postage Expense XX,XXX.XX

Telephone Expense XX,XXX.XX

Insurance Expense XX,XXX.XX

Depreciation Expense XX,XXX.XX

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Payroll Tax Expense XX,XXX.XX

Bad Debt Expense XX,XXX.XX

Miscellaneous Expense XX,XXX.XX

Total Expenses XX,XXX.XX

Net Profit/(Loss) $XX,XXX.XX

EXAMPLE COMPANY

Balance Sheet

For the Period Ending January 1, 20—

ASSETS

Current Assets

Cash $ XX,XXX.XX

Accounts

Receivable X,XXX.XX

Direct Materials X,XXX.XX

Indirect Materials

and

Factory Supplies

X,XXX.XX

Work in Process X,XXX.XX

Finished Goods X,XXX.XX

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Prepaid

Advertising X,XXX.XX

Prepaid Insurance X,XXX.XX

Office Supplies X,XXX.XX

Total Current Assets $ XX,XXX.XX

Property, Plant &

Equipment

Factory Equipment $ XX,XXX.XX

Less: Accumulated

Depreciation—

Factory Equipment XX,XXX.XX

Office Equipment X,XXX.XX

Less: Accumulated

Depreciation—

Office

Equipment X,XXX.XX X,XXX.XX

Total Property, Plant

& Equipment

X,XXX.XX

TOTAL ASSETS $ XX,XXX.XX

LIABILITIES

Accounts Payable $ X,XXX.XX

Salaries Payable X,XXX.XX

FWT Payable X,XXX.XX

FIXA Tax Payable X,XXX.XX

FUTA Tax Payable X,XXX.XX

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SUTA Tax Payable X,XXX.XX

Unearned Revenue X,XXX.XX

TOTAL LIABILITIES $ XX,XXX.XX

EXAMPLE COMPANY

Balance Sheet

As of January 31, 20—

STOCKHOLDERS' EQUITY

Common Stock ($10 par) $ XXX,XXX.XX

Paid-In Capital in Excess of Par—Common Stock XXX,XXX.XX

Retained Earnings XXX,XXX.XX

TOTAL STOCKHOLDERS' EQUITY XXX,XXX.XX

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ XXX,XXX.XX

JOB COST RECORD

Job

Number: Date Promised:

Customer

Name: Date Started:

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Job

Description: Date Completed:

Date

Materials

(Direct & Indirect) Labor Factory Overhead

Estimate Actual Estimate Actual Date Estimate Actual

Cost Summary

Estimate Actual

Materials

Labor

Factory

Overhead

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Total Job Cost

To obtain the Job Cost Record, go to the Financial Accounting section of the Penn Foster Library and select the Blank Forms tab.

The following is the background information necessary for completion of the accounting period as it relates to Ice Cream Systems Inc. (ICS):

1. ICS manufactures and sells ice cream machines, refrigeration systems, and parts for these systems. It manufactures all machines and

parts in a single production department.

2. As the controller of the company, you're responsible for daily accounting operations, adjusting and closing the monthly accounting

periods, and preparation of financial statements.

3. ICS operates on a calendar-year basis from January 1 to December 31 with a monthly accounting period. It uses a job-order cost

system.

4. Jobs that are in process are recorded on Job Cost Records. Records are maintained for each job. New jobs are assigned numbers

sequentially. They contain the accumulated costs for direct material, direct labor, and factory overhead. (For the purposes of this

project, it's assumed that all jobs prior to the current accounting period are either in process or complete and all resulting entries have

been made in the previous accounting period.)

5. ICS makes all journal entries in the General Journal. No special journals are used.

6. For purposes of this project, cash doesn't need to be reconciled to a bank statement.

7. Information related to Payroll:

Payroll is paid monthly on the last day of each month. Therefore, there's no accrual for payroll.

Gross pay for direct labor goes to Finished Goods or Work in Process if appropriate.

Salaries for non-factory workers go to the appropriate salary expense accounts.

The company's salesperson works on 10% straight commission of sales during the month.

Federal Withholding Tax is 15% of gross pay for everyone and is recorded whenever gross pay is recorded. FWT is

remitted monthly for the previous month.

There are no deductions for state or local withholding tax. n FICA tax rate is 7.65% of gross pay. (FICA is Social Security

and Medicare.) Since this is the first month of the new year, no one will reach the Social Security limit. FICA is remitted

monthly for the previous month.

FUTA tax rate is 0.8% of gross wages with no limit. SUTA tax rate is 1.45% of gross wages with no limit. FUTA and SUTA are

paid yearly in January (for the previous year).

There are no other miscellaneous deductions, such as union dues.

All employer payroll taxes (employer's portion of FICA, FUTA, and SUTA) are recorded on the last day of the month.

Employer payroll taxes related to factory workers go to Factory Overhead.

Employer payroll taxes related to all non-factory workers go to Payroll Tax Expense.

8. ICS has two material accounts:

Direct Materials

Indirect Materials and Factory Supplies

9. Factory Overhead is applied to each job at 25% of direct labor costs for that job.

10. Debits to Factory Overhead represent actual overhead, and credits represent applied overhead. The difference between actual and

applied factory overhead is insignificant and should be closed out to Cost of Goods Sold as an adjusting entry at the end of each

month.

11. Markups to determine the selling price of a job for ICS are 150% of estimated job costs. All sales are exempt from sales tax, as ICS sells

locally to resellers.

12. Shipping isn't a consideration for the purposes of this project.

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13. ICS uses a perpetual inventory system. When a sale is made, debit Cost of Goods Sold and credit Finished Goods for the cost of the

job.

14. All sales are on account with terms of net 30 days. No discounts are given.

15. All cash/checks received are deposited in the Cash account.

16. No separate bank account is kept for payroll.

17. Direct materials, indirect materials, and factory supplies are purchased on account.

18. Terms from all vendors for expenses are net 30 days.

19. Factory Supplies are added to the Indirect Materials and Factory Supplies general ledger account.

20. A periodic inventory system is used for office supplies with all purchases going to inventory.

21. All payments—referred to as cash or check—are made by check from the Cash Account. (For purposes of this project, no check

register or checks will be given. No reconciliation of the cash account will be required. Assume that all checks are written.)

Project Instructions

1. Set up the General Ledger accounts, Accounts Receivable, and Accounts Payable accounts. Use the following blank forms (make as

many copies as necessary). Insert the beginning balances from the Trial Balance and Schedules of Accounts Receivable and Payable.

You can also obtain copies of the blank forms by going to the Financial Accounting section of the Penn Foster Library and selecting

the Blank Forms tab.

DATE ITEM POST

REF. DEBIT CREDIT

BALANCE

DEBIT CREDIT

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2. Journalize the entries shown in the Narrative of Transactions for the month of January in the General Journal. Use the following blank

forms (make as many copies as necessary) or print the forms from the Financial Accounting section of the Penn Foster Library. When

using the Work in Process account, be sure to post to the appropriate Job Cost Record.

DATE ACCOUNTS POST REF DEBIT CREDIT

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Narrative of Transactions

January 2—Paid Mass Media $4,200.00 for prepaid advertising in local newspapers for the next 12 months.

January 2—Paid Pierce Properties $2,750.00 for January rent. Of this amount, 25% is for office facilities and 75% is

for factory facilities.

January 2—Paid Owen’s Insurance $6,000.00 for prepaid insurance for the first quarter of the year

January 3—Received a check from Horsfield Happy Ice Cream as partial payment on account in the amount of

$5,000.00.

January 3—Paid Rockaway Metal the balance of $2,873.00 on account.

January 4—Sold two ice cream systems to Day Dreamer’s Ice Cream. The estimated direct labor is $8,200.00. The

estimated direct material is $3,350.00. The estimated indirect material is $350.00. Day Dreamer’s is to be billed in

the amount of $20,925.00 on account. A check for $5,000.00 will be collected as a deposit against that sale. The

start date will be January. The date promised will be January 23. Assign the contract to Job 74.

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January 5—Mountain Swirl Ice Cream purchased and took delivery of one ice cream machine for $7,500.00. Record

the sale and the cost of the sale. Markup is 150% of cost. Transfer cost from Finished Goods to COGS.

January 6—Purchased indirect material on account from Electrical Systems Corp. in the amount of $3,643.00. Set

up a new Accounts Payable account, and record the purchase.

January 6—Purchased factory supplies on account from Grommet Supplies in the amount of $847.21. Set up a new

Accounts Payable account, and record the purchase.

January 9—Assign the manufacture of one ice cream machine to Job 75. A direct material requisition shows

$1,450.00 of direct materials, and an indirect materials requisition shows $170.00 of indirect materials. A time card

shows $3,650.00 of direct labor for the completed job. Factory overhead is based on 25% of direct labor cost.

Transfer the completed job from Direct Material and Indirect Material to the Finished Goods account. When making

the journal entry for applying direct labor, debit Finished Goods for the gross pay and credit FWT Payable and FICA

Tax Payable for the appropriate amounts with the net pay going to Salaries Payable.

January 10—Receive a check from Horsfield Happy Ice Cream as partial payment on account in the amount of

$5,000.00.

January 10—Receive a phone bill in the amount of $1,402.22 from Unique Telephone Systems on account.

January 15—Paid Liberty Bank $2,435.79 for December payroll taxes payable for the amounts of FWT Payable,

$1,613.11; FICA Tax Payable, $822.68.

January 15—Assign Job 76 to Cold Refrigeration for the purchase of a refrigeration system. The start date will be

January 16. The completion date will be no later than February 28. The estimated direct material is $9,175.00. The

estimated indirect material is $1,860.00. The estimated direct labor is $15,600.00. The contract amount is

$45,800.00. A deposit of $10,000.00 was provided by Cold Refrigeration in signing the contract. The deposit is

unearned revenue. Half of the contract will be billed upon 50% completion with the deposit applied against that

billing with the remaining amount due immediately. A quarter of the contract will be billed upon 75% completion of

the contract with the amount due immediately. The remaining amount of the contract is to be billed when the job is

100% complete and is payable within 30 days of the billing.

January 16—Purchased $4,441.00 of factory supplies from Johnston Equipment paid in cash.

January 16—Purchased $2,965.00 of direct materials from Smith Synthetics on account.

January 16—Purchased $427.50 of office supplies from OfficeMax on account.

January 19—Apply from direct materials requisition $2,800.00 of direct materials. Apply from indirect materials

requisition $325.00 of indirect materials. Apply from time cards $7,950.00 of direct labor to Job 74 completing the

job. Applied factory overhead is based on 25% of direct labor cost. Transfer the completed job to the COGS

account from Direct Material and Indirect Material and Factory Overhead accounts. When making the journal entry

for applying direct labor, debit COGS for the gross pay and credit FWT Payable and FICA Tax Payable for the

appropriate amounts with the net pay going to Salaries Payable.

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January 20. —Paid the electric bill from Susquehanna Electric in the amount of $2,356.21 for the month of

December. Allocate 30% to Factory Overhead.

January 20—Paid the FUTA Tax Payable for the previous year.

January 20—Paid the SUTA Tax Payable for the previous year.

January 23—Ashman Alcove Designs paid the balance on account.

January 27—Paid O-Ring Enterprises the balance owed on account.

January 27—Paid post office $300.00 cash for postage added to postage meter.

January 28—Apply from direct materials requisition $4,600.00 of direct materials. Apply from indirect materials

requisition $950.00 of indirect materials. Apply $8,000.00 (from time cards) of direct labor and factory overhead to

Job 76, completing 50% of the job. Factory overhead is based on 25% of direct labor cost. Transfer the partially

completed job from Direct Material and Indirect Material to WIP. When making the journal entry for applying direct

labor, debit WIP for the gross pay and credit FWT Payable and FICA Tax Payable for the appropriate amounts with

the net pay going to Salaries Payable. Set up the accounts receivable and bill Cold Refrigeration for 50% of the

contract on account, applying the initial $10,000.00 deposit against the billing.

January 29—Received a check from Cold Refrigeration in the amount of $12,900.00 on account.

January 31—Received the following data for the monthly payroll:

Direct labor (already recorded) $19,600.00

Sales commission 5,132.50

Officers’ salaries 5,000.00

Office salaries 1,920.00

Record the monthly payroll. Direct labor payroll has already been recorded, as it was incurred in January. Debit

other salary expense accounts for the appropriate amounts; credit FWT Payable for 15% of gross pay; credit FICA

Tax Payable for 7.65% of gross pay; and credit Salaries Payable for the net pay. Record the payroll taxes imposed on

the employer for all personnel for the month of January. (Prepare the “Schedule of Employer Payroll Taxes

Allocation” using the appropriate tax rates.)

January 31—Received a check from Messina Missions for the balance on account.

January 31—Received a check from Horsfield Happy Ice Cream for the remaining balance on account.

January 31—Paid all employee wages earned in January.

3. Post the general journal entries to the General Ledger, the Accounts Receivable Ledger, and the Accounts Payable Ledger. Use the Post

Ref. column to ensure that each line item of the journal entries is posted correctly to each general ledger account. Posting from the

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journal to the ledger is nothing more than rearranging the information; however, focus and concentrate because it's easy to make a

mistake.

4. Calculate the balances in the general ledger accounts. Use an Excel spreadsheet or a printing calculator to run the numbers several

times. Don't use a hand-held calculator, as it's far too easy to make a mistake using it.

5. Prepare the Schedules of Accounts Receivable and Accounts Payable.

6. Prepare an Unadjusted Trial Balance using the balances from the general ledger accounts.

ACCOUNTS DEBIT CREDIT

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7. Journalize the following adjusted entries in the general journal.

Adjusting Entries

January 31—Expense Prepaid Advertising for the month of January.

January 31—Expense Prepaid Insurance for the month of January.

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January 31—Office supplies physical inventory as of January 31 is $276.21.

January 31—Depreciation for the month of January for Factory Equipment is $2,987.12.

Depreciation for Office Equipment is $266.99.

January 31—Close out Factory Overhead of $190.24 to Cost of Goods Sold.

8. Post the adjusting journal entries to their respective ledger accounts and calculate new balances for those accounts.

9. Prepare an Adjusted Trial Balance using the balances from the general ledger accounts. Use the blank form provided in step six.

10. Prepare an Income Statement following the formats shown in the Example Company Statements using the following blank form as a

worksheet or by visiting the Financial Accounting section of the Penn Foster Library and downloading the forms:

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11. Journalize and post the closing journal entries in the general journal. Jan. 31— Prepare closing entries to close revenue and expense

accounts to Income Summary and transfer the net income to Retained Earnings.

12. Post the closing journal entries to the respective ledger accounts and calculate new balances for those accounts.

13. Prepare a Post-Closing Trial Balance using the balances from the general ledger accounts. Use the blank form that was provided in

step six.

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14. From the Post-Closing Trial Balance, create the Balance Sheet following the formats shown in the Example Company Statements

using the following blank form as a worksheet or by visiting the Financial Accounting section of the Penn Foster Library and

downloading the form:

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After creating the balance sheet, income statement, and the post-closing trial balance on the blank forms provided, the financial statements must

now be typed up in one Word document and saved as a .doc or .docx file. Excel can also be used, saving the file with the extension .xls or .xlsx. The

financial statements can also be saved using the Rich Text Format (.rtf ) file extension. Each statement should be on its own page (or worksheet).

The name of the file should include your student ID number and the graded project exam number, such as "12345678_061301.docx".

Use tables in the Word document if you feel you need them to format the financial statements. Alternatively, you can space and tab in Word to

format the statements correctly. Formatting is important; keep in mind that points will be deducted for incorrect capitalization, spelling,

underlining, and double underlining. Deductions will also be made for improper headings, dates, indentations, and columns. Follow the

examples provided in the Instructions section of the project.

Create all financial statements in one file. Submission of more than one file will result in the project being returned ungraded! Submission of only

one file is important for tracking and grading purposes.

Images or scans of the financial statements inserted into a Word document will also result in the project being returned ungraded. This prevents

the ability to "mark up" the file, and financial statements that are handwritten are generally considered unprofessional and unacceptable in the

business world.

Only the financial statements are required. Submitted journals, ledgers, or an unadjusted trial balance and adjusted trial balance will not be

evaluated.

Grading Criteria

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The grading criteria for the project are as follows:

The formatting of the three financial statements is worth 12 points each, for a total of 36 points (3 × 12 = 36).

An out-of-balance accounting equation on the balance sheet will result in a loss of 13 points for the formatting of the balance sheet even though

other formatting issues may be correct.

Debits not equaling credits on the post-closing trial balance will result in a loss of 13 points for the post-closing trial balance even though other

formatting issues may be correct.

Also, not having made closing journal entries as reflected on the post-closing trial balance will result in a loss of 13 points for formatting of the

post-closing trial balance even though other formatting issues may be correct.

Deductions for figures on the financial statements are based on the 42 balances from the general ledger accounts. Each balance is worth 1.5 points

(1.5 × 42 = 63). The total deduction will be rounded up to the next whole number.

Thus, the formatting of the financial statements (worth 30 points) plus the figures used for the financial statements (worth 70 points in total)

provide 100 points for the project.

Formatting 36 points

Figures 63 points

Adjustment (rounding) 1 point

Total Points 100 points

If a project receives a failing grade (less than 70 points), the project will have to be reworked and resubmitted for final grading. The highest grade

that can be obtained on a retake is 70, which is passing. If the project receives a passing grade on its initial submission, no resubmission is allowed.

Plagiarism

Plagiarism is taking any part of a published piece of work and using it as your own.

Plagiarism is unacceptable at Penn Foster College. This is a reminder of the expectation to which all Penn Foster College students are held. Per

your Student Handbook, students are expected to conduct themselves with the highest academic and ethical standards. Failure to do so results in

disciplinary action.

Good luck with the project!

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