LESSON 6 1 Creating a Worksheet CENTURY 21
- Slides: 24
LESSON 6 -1 Creating a Worksheet CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
2 TERMS page 155 n fiscal period n work sheet n trial balance CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
3 PREPARING THE HEADING OF A WORK SHEET page 153 1 Name of Company 2 Name of Report 3 Date of Report CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
4 PREPARING A TRIAL BALANCE ON A WORK SHEET 2 1 4 3 5 6 CENTURY 21 ACCOUNTING © Thomson/South-Western page 154 1. Write the general ledger account titles. 2. Write the general ledger debit account balances. Write the general ledger credit account balances. 3. Rule a single line across the two Trial Balance columns. 4. Add both the Trial Balance Debit and Credit columns. 5. Write each column’s total below the single line. 6. Rule double lines across both Trial Balance columns. LESSON 6 -1
LESSON 6 -2 Planning Adjusting Entries on a Work Sheet CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
6 TERM page 161 n adjustments CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
7 SUPPLIES ADJUSTMENT ON A WORK SHEET page 158 2 3 1 1. Write the debit amount. 2. Write the credit amount. 3. Label the two parts of this adjustment. CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
8 PREPAID INSURANCE ADJUSTMENT ON A WORK SHEET page 159 2 3 1 1. Write the debit amount. 2. Write the credit amount. 3. Label the two parts of this adjustment. CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
9 PROVING THE ADJUSTMENTS COLUMNS page 160 OF A WORK SHEET 1 2 1. Rule a single line. 2. Add both the Adjustments Debit and Credit columns. Write each column’s total. 3. Rule double lines. CENTURY 21 ACCOUNTING © Thomson/South-Western 3 LESSON 6 -1
LESSON 6 -3 Extending Financial Statement Information on a Work Sheet CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
11 TERMS n n page 166 balance sheet income statement net income net loss CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
12 EXTENDING BALANCE SHEET ACCOUNT page 162 BALANCES ON A WORK SHEET 2 1. Debit balances without adjustments 2. Debit balances with adjustments 3. Credit balances without adjustments CENTURY 21 ACCOUNTING © Thomson/South-Western 1 3 LESSON 6 -1
13 EXTENDING INCOME STATEMENT ACCOUNT BALANCES ON A WORK SHEET page 163 1 2 3 1. Sales balance 2. Expense balances without adjustments 3. Expense balances with adjustments CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
14 RECORDING NET INCOME, AND TOTALING AND RULING A WORK SHEET 4 1. Single rule 2. Totals 3. Net income 3 4. Extend net income 5. Single rule CENTURY 21 ACCOUNTING © Thomson/South-Western 6 1 7 page 164 2 5 6. Totals 7. Double rule LESSON 6 -1
15 CALCULATING AND RECORDING A NET LOSS ON A WORK SHEET page 165 1 3 1. 2. 3. 4. Single rule Totals Net loss Extend net loss CENTURY 21 ACCOUNTING © Thomson/South-Western 4 2 LESSON 6 -1
16 SEQUENCE OF TASKS TO PREPARE A WORK SHEET page 160 C 1. Write the heading. 2. Record the trial balance. 3. Record the supplies adjustment. 4. Record the prepaid insurance adjustment. 5. Prove the Adjustments columns. 6. Extend all balance sheet account balances. 7. Extend all income statement account balances. 8. Calculate and record the net income (or net loss). 9. Total and rule the Income Statement and Balance Sheet columns. CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
17 CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
18 1 CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
19 1 2 496400 10000 15000 102500 120000 6 (a) (b) 20000 500000 71500 10000 356500 Net Income 8 11000 881500 62500 356500 21300 2800 30000 20000 500000 3 4 62500 496400 10000 15000 10000 31000 110000 (b) 10000 (a) 71500 81500 CENTURY 21 ACCOUNTING © Thomson/South-Western 21300 10000 2800 7 30000 71500 5 11000 81500 146600 356500 734900 525000 209900 356500 734900 9 LESSON 6 -1
LESSON 6 -4 Finding and Correcting Errors on the Work Sheet CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
21 CORRECTING AN ERROR IN POSTING TO page 168 THE WRONG ACCOUNT 2 Correct entry 1 Incorrect entry 1. Draw a line through the entire incorrect entry. Recalculate the account balance and correct the work sheet. 2. Record the posting in the correct account. Recalculate the account balance, and correct the work sheet. CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
22 CORRECTING AN INCORRECT AMOUNT page 169 2 1 3 1. Draw a line through the incorrect amount. 2. Write the correct amount just above the correction in the same space. 3. Recalculate the account balance, and correct the account balance on the work sheet. CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
23 CORRECTING AN AMOUNT POSTED TO THE WRONG COLUMN page 169 2 1 3 5 4 6 4. Draw a line through the incorrect item in the account. 5. Record the posting in the correct amount column. 6. Recalculate the account balance, and correct the work sheet. CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
24 Chapter 6 Assignments: n Study Guide 6 n Ch 6 Mastery Extra Credit n Ch 5 -6 crossword n Ch 6 Challenge CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 6 -1
Creating a cladogram worksheet answer key
Excel module 1: creating a worksheet and a chart
Chapter 2 lesson 4 creating the constitution
Constitution worksheet answers
The early and mid-nineteenth century romanticism post test
What century are we in
Century tipografia
Viking area
Rome chapter 8
Famous virginians 21st century
Defining marketing for the 21st century
Century heritage fcu
Flow of the century
British empire 20th century
St century
18th century literature examples
Tanaga example
How to keep your 21st century scholarship
Nineteenth century isms review
Small business management in the 21st century
Parker v 20th century fox
Century 21 stock
Big ed beckley
In the twenty-first century, sales leaders are
Century 21 southwestern accounting
