Skip to main content

Accounting

Accounting
 
 
Class Description:

Accounting is the language of business. In this course, you will learn to plan, record, analyze, and interpret financial information by going through an entire accounting cycle for a service business organized as a proprietorship.

In addition, we will discuss other topics to introduce you to business overall. If you plan on working in a business, majoring in business in college, or even owning your own business, this is a great class to take!
 
To learn more about how this class runs, check out the graphic syllabus.
Links:
 
Vocab Review:
 
 
Click "Jump To" and choose Chapter 
Class Files:
Vocab Journal
Here's what we're doing in Accounting!
Alicia Antol's Blog Page
subscribe
Thursday 5-24-18
Posted 5/23/2018 at 2:37:19 PM by Alicia Antol [staff member]

Bell Work:

Organize your binder from the beginning of the year through now. Chapter 8 materials should be in the back.

 

Today we will...

Earn back points on the Chapter 8 Test if you haven't already done so.

 

Get an update on the senior exam schedule.

 

Look over the study guide, asking questions as needed (especially seniors)!


Goals:

Organize your binder.

Earn back points if needed.

Review for the exam.

Wednesday 5-23-18
Posted 5/22/2018 at 2:38:17 PM by Alicia Antol [staff member]

Bell Work:

Get your binder and a book and sit in the seat you sat in yesterday to take the test.


If you did not take the test yesterday, find a seat that is at least one place away from everyone else.


Today we will...

Take the test if you haven't yet.

  • Once you turn it in, I will grade it and give it back to you as soon as possible for a chance to earn back half credit.

  • While you wait for me to grade it, look over your materials to get a head start.

When earning back points:

  • You may use your book, notes, and past assignments. You may NOT use your phone or your friends!

  • If you need a blank page from the test, let me know and I'll give you one.

Goal:

Review what you missed and make corrections to earn back points.

Tuesday 5-22-18
Posted 5/21/2018 at 2:59:56 PM by Alicia Antol [staff member]

Bell work:

Do any last minute studying!


Today we will...

Take the Chapter 8 Test!


When you are finished with your test, I will collect it. Please make sure you have something to occupy yourself silently while others finish taking the test.


Goal:

Show what you know about Chapter 8!

Application Problems KEY
Posted 5/21/2018 at 1:39:30 PM by Alicia Antol [staff member]
Monday 5-21-18
Posted 5/18/2018 at 3:08:38 PM by Alicia Antol [staff member]

Bell Work:

Gather your Chapter 8 materials, including the study guide from Friday.


Today we will...

Complete the study guide, using Friday's blog post for tips on where to find helpful info.


Check your answers with the keys at the study guide stations.


Please ask if you have questions! I would be happy to walk you through steps if needed!


CHAPTER 8 TEST TOMORROW - worth 135 points!!!


Goals:

  1. Define accounting terms related to adjusting and closing entries.

  2. Identify the steps in the accounting cycle.

  3. Journalize and post adjusting and closing entries.

  4. Prepare a post-closing trial balance.

Friday 5-18-18
Posted 5/17/2018 at 2:40:51 PM by Alicia Antol [staff member]

Bell Work:

Turn in On Your Own 8-3 if you haven't already done so.


Today we will...

Complete Chapter 8 Study Guide. The following items will help:


Part 1: Chapter 8 Quizlet


Part 2: The Accounting Cycle Steps - p. 217


Parts 3 and 4:

  • The "Steps" handout that was given to you on Tuesday.

  • Returned 8-1 and 8-2 On Your Own (blue papers)

  • Book examples -

    • Adjusting Entries:

      • Supplies: p. 202

      • Prepaid Insurance: p. 204

    • Closing Entries:

      • Sales: p. 208

      • Expenses: p. 209

      • Recording Net Income and Closing Income Summary: p. 210

      • Drawing: p. 211

Part 5:

  • 8-3 On Your Own (handed back today)

  • Book example: p. 216

Please ask if you have questions! CHAPTER 8 TEST TUESDAY!!


Goals:

  1. Define accounting terms related to adjusting and closing entries.

  2. Identify the steps in the accounting cycle.

  3. Journalize and post adjusting and closing entries.

  4. Prepare a post-closing trial balance.

Thursday 5-17-18
Posted 5/16/2018 at 2:20:42 PM by Alicia Antol [staff member]

Bell Work:

Review Work Together 8-3.


Today we will...

Complete and discuss Audit Your Understanding on page 219.


Complete On Your Own 8-3 and turn it into the tray for a grade.


Please ask if you have questions! CHAPTER 8 TEST TUESDAY!!


Goal:

Prepare a post-closing trial balance.

Wednesday 5-16-18
Posted 5/15/2018 at 2:17:07 PM by Alicia Antol [staff member]

Bell Work:

Check your grade for  On Your Own 8-1 and 8-2. Do you have any questions about what you missed?


Today we will...

Start 8-3 Notes. As we go, fill in the blanks, look at the examples in the book and on the projector, and ask questions as needed.


Begin Work Together 8-3, found on page 219.


Goal:

Prepare a post-closing trial balance.

Tuesday 5-15-18
Posted 5/14/2018 at 2:30:22 PM by Alicia Antol [staff member]

Bell Work:

Complete Audit Your Understanding on pages 205 AND 212. You should use the space on the back of your 8-2 notes. If you don’t have enough space, use notebook paper. I have extra up front in the scrap paper bin. :)


Today we will...

Discuss Bell Work.


Look over the "Steps" Handout.


Talk about the handout and how it can guide you through adjusting and closing entries. Follow along as I project the Work Together examples for 8-1 and 8-2. Review any questions you have adjusting and closing entries.


Check your grade in the grade book out of 57 points for On Your Own 8-1 and 8-2. (If you have not turned it in, finish it and do so TODAY!)


Consider your options:

  • Keep the grade you have.

  • Use the "Steps" handout to complete the Application Problems 8-1 & 8-2 on page 221 and replace your undesirable grade.

 

Work with Chapter 8 vocab in Quizlet!


Goal:

Record adjusting and closing entries for a service business organized as a proprietorship.

Monday 5-14-18
Posted 5/14/2018 at 11:06:50 AM by Alicia Antol [staff member]
Bell Work:

Get to work!


Today we will...

Finish and turn in On Your Own 8-1 and 8-2.


Work with Chapter 8 vocab in Quizlet!


Goal:

Record adjusting and closing entries for a service business organized as a proprietorship.

Friday 5-11-18
Posted 5/10/2018 at 2:52:41 PM by Alicia Antol [staff member]

Bell Work:

Look over yesterday’s notes and what we’ve done so far in Work Together 8-2.


Today we will...

Complete Work Together 8-2 by posting from the journal to the ledger. Check your answers using the keys below, but REMEMBER, it is pointless to simply copy. I am not grading this. Do it to see if you know how. Then check your answers. If they don’t match, figure out why before moving on!

Complete On Your Own 8-2 (on the blue paper) and turn it into the tray.


Goal:

Record closing entries for a service business organized as a proprietorship.

Thursday 5-10-18
Posted 5/9/2018 at 2:02:45 PM by Alicia Antol [staff member]

Bell Work:

Make sure you're finished with On Your Own 8-1. You need to have it completed so that you can continue using it for 8-2!


Today we will...

Go over 8-2 Notes.


Complete Work Together 8-2 on page 212. To do so, you will use the same papers you used for 8-1.


Goal:

Record closing entries for a service business organized as a proprietorship.

Wednesday 5-9-18
Posted 5/7/2018 at 2:39:51 PM by Alicia Antol [staff member]

Bell Work:

Gather your Chapter 8 materials. Staple your Work Together 8-1 ledger and worksheet papers if needed.


Today we will...

Return to Work Together 8-1.


Use what you learned to complete On Your Own 8-1 (on the blue paper). This includes journalizing adjusting entries AND posting those entries to the general ledger. Don't forget the last step - tie them together using the "Post. Ref." column!


With remaining time, finish your 8-1 notes if you're not yet done. Turn them in today and only lose 3 points. Tomorrow, it goes up to 6!


Work with Chapter 8 terms in Quizlet!


Goal:

Journalize and post adjusting entries for a service business organized as a proprietorship.

Monday 5-7-18
Posted 5/4/2018 at 2:35:27 PM by Alicia Antol [staff member]

Bell Work:

Turn to page 217. Look over the graphic of The Accounting Cycle for a Service Business. Can you remember how to do steps 1-5?


Look at the pictures on the following pages to refresh your memory:

  • Step 1: Analyze Transactions

    • pages 58-59

  • Step 2: Journalize Transactions

    • page 60-76

  • Step 3: Post to Ledger

    • page 94-105

  • Step 4: Prepare a Worksheet

    • page 160 A, B, C, and clear pages

  • Step 5: Prepare Financial Statements

    • page 184 and page 189

Today we will...

Discuss bell work.


Go over the 8-1 PowerPoint and discuss the steps for recording adjusting entries and complete Work Together 8-1, found on page 205.


Use what you learned to complete On Your Own 8-1 (on the blue paper). This includes journalizing adjusting entries AND posting those entries to the general ledger. Don't forget the last step - tie them together using the "Post. Ref." column!


Work with Chapter 8 terms in Quizlet!


Goals:

  • Review the steps of the accounting cycle we've covered so far.

  • Record adjusting entries for a service business organized as a proprietorship.

Friday 5-4-18
Posted 5/3/2018 at 2:53:45 PM by Alicia Antol [staff member]

Bell Work:

Get your notes and book from yesterday.


Today we will...

Finish creating your own 8-1 Notes. Remember to check the rubric on yesterday's post to make sure you'll earn all the points you deserve. This is the last day to turn them in for full credit!


When finished, you may color! If you’re excited about this, thank Cory H. :) He’s the one who suggested we color today!


Goal:

Create quality notes to assist your learning of section 8-1.

Thursday 5-3-18
Posted 5/2/2018 at 2:46:32 PM by Alicia Antol [staff member]

Bell Work:

Get a book and turn to page 202 to review journalizing, but with a new type of transaction - adjusting entries.


Today we will...

Start 8-1. Instead of giving you notes for this section, you're going to create your own! See the rubric for details on how your notes will be graded.


Goal:

Create quality notes to assist your learning of section 8-1.

Wednesday 5-2-18
Posted 5/1/2018 at 2:00:33 PM by Alicia Antol [staff member]

Bell Work:

Get your binder and a book and sit in the seat you sat in yesterday to take the test.


If you did not take the test yesterday, find a seat that is at least one place away from everyone else.


Today we will...

Take the test if you haven't yet.

  • Once you turn it in, I will grade it and give it back to you as soon as possible for a chance to earn back half credit.

  • While you wait for me to grade it, look over your materials to get a head start.

When earning back points:

  • You may use your book, notes, and past assignments. You may NOT use your phone or your friends!

  • If you need a blank income statement or balance sheet, use the last page of your test OR a blank one you have in your binder from review problems. If you don't have an extra, let me know and I'll give you one.

Goal:

Review what you missed and make corrections to earn back points.

Tuesday 5-1-18
Posted 4/30/2018 at 2:46:25 PM by Alicia Antol [staff member]

Bell work:

Do any last minute studying!


Today we will...

Take the Chapter 7 Test!


When you are finished with your test, I will collect it. Please make sure you have something to occupy yourself silently while others finish taking the test.


Goal:

Show what you know about Chapter 7!

Monday 4-30-18
Posted 4/30/2018 at 12:53:32 PM by Alicia Antol [staff member]

Bell Work:

Gather your Chapter 7 papers. Look over the answer keys for your review problems. Use the links from Friday's post. Please ask questions if needed!


Today we will...

Take the first 15 minutes to review income statement and balance sheet problems we did last week.

 

Play a review Kahoot. Go to kahoot.it and enter the Game PIN.


Chapter 7 Test TOMORROW!


Goal:

Prepare for Chapter 7 Test.

Friday 4-27-18
Posted 4/26/2018 at 9:13:12 PM by Alicia Antol [staff member]

Bell Work:

Get your papers from yesterday. If you would like to review Challenge Problem 7-4, click here.


Today we will...

Check your answers for the Application Problem 7-1 & 7-2 with the key.

Move on to the Chapter 7 Review. Hopefully you are comfortable with these problems.


Check answers for the Chapter 7 Review problems.


Review vocab for Chapters 6 & 7 in Quizlet and check out the review games and practice quiz on our textbook website.


Chapter 7 Test Tuesday! On the test you will need to prepare an income statement, prepare a balance sheet, and answer a few questions about how to do each, given different scenarios.


Goals:

  • Prepare income statements and balance sheets.

  • Review different scenarios and vocab related to financial statements.

Thursday 4-26-18
Posted 4/25/2018 at 2:43:51 PM by Alicia Antol [staff member]

Bell Work:

Turn to page 196 and look over your returned Challenge Problem 7-4 paper.


Today, we will...

Go over bell work. Be sure to ask any questions as we do!


Further review financial statements by completing Application Problem 6-1, 6-2, and 6-3. Please use your resources and ask questions if you have them!


Chapter 7 Test Tuesday!


Goals:

  • Prepare income statements and balance sheets.

  • Review content related to preparing income statements and balance sheets.

Wednesday 4-25-18
Posted 4/24/2018 at 1:40:16 PM by Alicia Antol [staff member]

Bell Work:

Find your paper with the Challenge Problem 7-4 on it. You will need it later in class!


Today, we will...

Finish 7-2 Notes.


Return to #3 of the Challenge Problem 7-4 on page 196. Keep in mind that this example has NET LOSS and you will calculate "current capital" differently than your previous examples. See your notes and/or page 189 for details.


Review vocab for Chapters 6 & 7 in Quizlet and check out the review games and practice quiz on our textbook website.


Goals:

  • Prepare a balance sheet that reports a net loss and owner's equity in detail.

  • Review content related to preparing income statements and balance sheets.

Tuesday 4-24-18
Posted 4/23/2018 at 2:52:28 PM by Alicia Antol [staff member]

Bell Work:

Look over the notes we started yesterday and answer the questions on the "Balance Sheet Bell Work" paper.


Today, we will...

Discuss bell work and review the steps of preparing a balance sheet.


Complete On Your Own 7-2 on page 192. Turn it into the tray when finished.


Check to make sure you're not missing any assignments. If you are, finish them up and turn them in. Please ask if you're not sure!


Goals:

  • Explain the difference between income statements and balance sheets.

  • Prepare a balance sheet.

Monday 4-23-18
Posted 4/23/2018 at 8:29:27 AM by Alicia Antol [staff member]

Bell Work:

Finish and turn in your "Analyzing a Real Income Statement" paper from Friday if you haven't yet done so. 


Then, preview another financial statement (the balance sheet) on pages 187-190.


Today we will...

Start 7-2 Notes. As we go, fill in the blanks, look at the examples in the book and on the projector, and ask questions as needed.


Begin Work Together 7-2, found on page 192.


Goals:

  • Explain the difference between income statements and balance sheets.

  • Prepare a balance sheet.

Friday 4-20-18
Posted 4/19/2018 at 2:35:26 PM by Alicia Antol [staff member]

Bell Work:

Find your article from yesterday: "How To Read an Income Statement"and answer the following:

  1. What do all income statements start with?

  2. What do all income statements end with?

  3. What does the phrase "bottom line" mean and where did it come from?

Today we will...

Return to the article. With or without a partner, finish reading it and analyze Apple's 2013 Income Statement. Use the WS “Analyzing a Real Income Statement” as you go.


Turn the WS over. You will find the same questions on the back. Look up another company's income statement and complete the questions for it. You may use the same company you've been working with for component percentages or search for another. Yahoo Finance is a good website to use.


Goal:

Gain a better understanding of real world income statements.

Thursday 4-19-18
Posted 4/18/2018 at 2:25:38 PM by Alicia Antol [staff member]

Bell Work:

Make sure you’ve turned in your On Your Own 7-1 (with component percentages explained further on the back). I have two no-names, but there are 8 of you without grades!  See the board for your name!


Then, answer the following:

  1. What is the best place to look to see how a company is doing?

  2. How can you tell if "net income" is a good number? Wait, isn't it always a good number?

  3. What is a stock?

Today we will...

Discuss bell work and then start to work with an article called, "How To Read an Income Statement." While we go over it, we will learn that all income statements are structured the same (though they may use different terms).


Return to the income statement you looked up to complete the Component Percentage WS. Do more of the numbers make sense to you now?


Goal:

Gain a better understanding of real world income statements.

Wednesday 4-18-18
Posted 4/17/2018 at 2:46:30 PM by Alicia Antol [staff member]

Bell Work:

Turn your book to page 196 and look over numbers 1 and 2 of the Challenge Problem 7-4.

 

Today we will...

Watch the last few minutes of the Shark Tank episode we started yesterday.


Complete numbers 1 and 2 of the Challenge Problem 7-4 on page 196. Use page 185 as an example as you go!

 

Work with Chapter 6 & 7 vocab in Quizlet and/or "jump to" Chapter 7 on the textbook website. (Links to the left!)


Goals:

  • Prepare an income statement with two sources of revenue and net loss.

  • Review 7-1 and preview 7-2 using Quizlet and the Textbook website.

Tuesday 4-17-18
Posted 4/16/2018 at 2:24:57 PM by Alicia Antol [staff member]
Seniors - I hope you enjoy your field trip and find it beneficial.
 
Everyone else - Watch and complete the Shark Tank Viewer Worksheet.
Monday 4-16-18
Posted 4/13/2018 at 2:06:39 PM by Alicia Antol [staff member]

Bell Work:

Check out the following business terms mentioned on SharkTank Friday. What do they mean? 

  • gross margin 
  • COGS
  • distribution channels
  • route to market

Today we will...

Return to our discussion of component percentages using Cabelas and a business of your choice to discuss.


Finish 7-1 Notes and consider what to do if there are two sources of income (rather than one) and a net loss (rather than income).


Complete numbers 1 and 2 of the Challenge Problem 7-4 on page 196. Use page 185 as an example as you go!


Goals:

  • Prepare an income statement with two sources of revenue and net loss.

  • Analyze component percentages.

Friday 4-13-18
Posted 4/12/2018 at 2:32:33 PM by Alicia Antol [staff member]

Bell Work:

Complete On Your Own 7-1. If you finish early, look over the "Component Percentages Explained Further" on the back. Turn it into the tray on your way out of class.


Today we will...

Review how to prepare an income statement from start to finish.


Finish 7-1 Notes and consider what to do if there are two sources of income (rather than one) and a net loss (rather than income).


Complete numbers 1 and 2 of the Challenge Problem 7-4 on page 196. Use page 185 as an example as you go!


Goals:

  • Prepare an income statement with two sources of revenue and net loss.

  • Analyze component percentages.

Thursday 4-12-18
Posted 4/11/2018 at 2:08:31 PM by Alicia Antol [staff member]
Seniors - I hope you enjoyed your field trip yesterday! :)
 
Everyone - See yesterday's blog post for today's plans!
Wednesday 4-11-18
Posted 4/10/2018 at 2:16:50 PM by Alicia Antol [staff member]

Bell Work:

Turn to page 179 and read over Accounting in the Real World.


Today we will...

Discuss bell work.


Look over your Work Together 7-1 and consider the steps to complete it.


Complete 7-1 Notes through the component percentage section. As we go, fill in the blanks in your notes, look at the examples in the book and on the projector, and ask questions as needed.


Complete Work Together 7-1.


With remaining time, work with vocab in Quizlet.


Goal:

  • Prepare an income statement and analyze component percentages.

  • Practice with vocab related to financial statements.

Tuesday 4-10-18
Posted 4/9/2018 at 2:54:27 PM by Alicia Antol [staff member]

Bell Work:

Look over the income statement section of the work sheet on page 182. Think about where it is on the over all work sheets from Chapter 6. Compare that section with the income statement on page 183. Pretty similar, huh?


Today we will...

Start Chapter 7 with 7-1 Notes. As we go, fill in the blanks in your notes, look at the examples in the book and on the projector, and ask questions as needed.


As we go, we will complete Work Together 7-1, found on page 186.


Goal:

Prepare an income statement.

Monday 3-9-18
Posted 3/29/2018 at 2:41:40 PM by Alicia Antol [staff member]

WELCOME BACK! I HOPE YOU HAD AN ENJOYABLE BREAK! :)

 

Bell work:

If you did not take the test or earn back points before break, you will do that today. Gather your materials (calculator, book, binder) and wait for instructions on where to go.

 

If you finished your test before break, answer questions on the half sheet with the Planet Money logo.

 

Today we will...

Listen to a podcast from Planet Money called, “When the U.S. Paid Off the Entire National Debt.”  

 

Check out the current national debt in real time at www.usdebtclock.org.

 

Discuss bell work and our reactions to the podcast.

 

Goal:

Consider the concept of borrowing money on a personal and national scale.

Thursday 3-29-18
Posted 3/28/2018 at 2:44:20 PM by Alicia Antol [staff member]

Bell work:

Took the test yesterday? Get a calculator, your book, and binder. Sit where you did yesterday.

Taking the test today? Get a calculator and find a seat with at least one empty seat between you and your neighbor.


Today we will...

Take and/or earn back points on the Chapter 6 Test!


When you are finished with your test, I will collect it. Please make sure you have something to occupy yourself silently while others finish.


Goal:

Show what you know about Chapter 6!

Wednesday 3-28-18
Posted 3/27/2018 at 2:51:11 PM by Alicia Antol [staff member]

Bell work:

Do any last minute studying!


Today we will...

Take the Chapter 6 Test!


When you are finished with your test, I will collect it. Please make sure you have something to occupy yourself silently while others finish taking the test.


Goal:

Show what you know about Chapter 6!

Study Guide Answers!
Posted 3/27/2018 at 2:48:13 PM by Alicia Antol [staff member]

Click the links below for the Chapter 6 Study Guide Answers. Please ask questions if you have them!


Page 1 (vocab)


Page 2 (true/false)


Page 3 (adjustments - checkmarks)


Page 4 (info for work sheet)


Page 5 (work sheet)

Tuesday 3-27-18
Posted 3/26/2018 at 1:50:00 PM by Alicia Antol [staff member]

Bell Work:

Gather your Chapter 6 materials.

 

Today we will...

Oops! We were so excited to get started on our Study Guide that we forgot to finish 6-4 Notes! We will do that first!

 

Continue to work on the Study Guide. Test tomorrow?!

 

Goals:

  • Prepare an accounting worksheet.

  • Find and correct errors on an accounting work sheet.

Week of 3-26-18
Posted 3/23/2018 at 2:47:41 PM by Alicia Antol [staff member]

Bell Work:

Gather your Chapter 6 materials.


Today we will...

Finish 6-4 Notes and Work Together 6-4.


Consider the plan for the week. Here are our choices:


Choice 1:

  • Rest of Class Today: Begin study guide

  • Tuesday: Finish Study Guide and play Kahoot

  • Wednesday: Test!

  • Thursday: Earn back half credit

  • Friday: Enjoy Spring Break!

Choice 2:

  • Rest of Class Today: On Your Own 6-4

  • Tuesday: Begin Study Guide

  • Wednesday: Finish Study Guide

  • Thursday: Prepare materials to study over break and Play Kahoot

  • Friday: Enjoy Spring Break, including studying for accounting!

Goals:

  • Prepare an accounting worksheet.

  • Find and correct errors on an accounting work sheet.

Friday 3-23-18
Posted 3/22/2018 at 2:37:50 PM by Alicia Antol [staff member]

Bell Work:

Gather your 6-4 materials - book, notes, and Work Together.


Today we will...

Finish 6-4 notes and continue with Work Together 6-4 on page 170.


Check your work on the Application Problem 6-1, 6-2, and 6-3 with the key (link at the bottom of this post). If yours doesn't match, figure out why using what you know about checking for errors!


Goal:

Find and correct errors on an accounting work sheet.

Thursday 3-22-18
Posted 3/22/2018 at 11:32:52 AM by Alicia Antol [staff member]

Bell Work:

I hope you enjoyed your snow day yesterday! 

 

If I don't have a grade for your On Your Own 6-1, 6-2, and 6-3, your name is on the board. Bring it to me and then erase your name. It is on the back of your 6-2 Notes. The business name is Copa's Copies. 

 

Next, please turn in yourApplication Problem 6-1, 6-2, and 6-3 if you have not yet done so. This is what you worked on by yourself on Tuesday. The business name is Roseville Rentals.


Today we will...

Move on to 6-4 Notes. As we go, we will look at examples and fill in blanks. We will also pause throughout to complete Work Together 6-4.


Goal:

Find and correct errors in an accounting work sheet.

Tuesday 3-20-18
Posted 3/19/2018 at 2:14:38 PM by Alicia Antol [staff member]

Bell Work:

Turn On Your Own 6-1, 6-2, and 6-3 into the tray if you haven't already.


Today we will...

Review some common work sheet mistakes:

  • When figuring out adjustments, think about what is actually happening in the accounts.

    • Supplies/Prepaid Insurance is decreasing.

      • They are both assets, so when they decrease, it is a Credit!

    • Expenses are increasing.

      • Expenses' normal balance side is Debit!

  • Adjustments are labeled with lowercase letters in parentheses

    • (a), (b), etc.

  • Totals for debit and credit columns for both Income Statement and Balance Sheet DO NOT match UNTIL you calculate net income or net loss.

  • Write the words "Net Income" or "Net Loss" in the account title column on the same line.

  • Single lines represent that something needs to be added.

  • Double lines represent something was added and equals. Yay!

Complete a work sheet from start to finish - Application Problem 6-1, 6-2, and 6-3 on page 172-173. There are step-by-step instructions along with an example on the transparency pages between 160 and 161. You also have the key to Work Together for help!


Goal:

Prepare a work sheet for a service business organized as a proprietorship without help.

Monday 3-19-18
Posted 3/16/2018 at 2:15:29 PM by Alicia Antol [staff member]

Bell Work:

Get your book, binder, and On Your Own 6-3  paper. Don’t get too cozy in your seat. You will be in a group today.


Today we will...

Do group work based on where you are in the assignment. By the en