TRANSFERRING GENERAL LEDGER ACCOUNT BALANCES TO A WORK
TRANSFERRING GENERAL LEDGER ACCOUNT BALANCES TO A WORK SHEET RECORDING A TRIAL BALANCE ON A WORK SHEET 1 2 1. Write the titles of the general ledger accounts. 2. Write the balance of each account. 1 3. Total, prove, and rule the debit and credit columns. 2 3 Lesson 15 -1, page 366 -368 © South-Western Educational Publishing
PLANNING ADJUSTMENTS ON A WORK SHEET Merchandise Inventory Debit Credit Merchandise Inventory Jan. 1 Bal. 270, 480. 00 Lesson 15 -1, page 368 © South-Western Educational Publishing
ANALYZING A MERCHANDISE INVENTORY ADJUSTMENT AFTER ADJUSTMENTS BEFORE ADJUSTMENTS Income Summary Adj. (a) 15, 840. 00 Merchandise Inventory Jan 1 Bal. 270, 480. 00 (New Bal. 254, 640. 00) Adj. (a) 15, 840. 00 Lesson 15 -1, page 369 © South-Western Educational Publishing
RECORDING A MERCHANDISE INVENTORY ADJUSTMENT 3 2 1 1. Write the debit amount. 2. Write the credit amount. 3. Label the two parts of this adjustment. Lesson 15 -1, page 370 © South-Western Educational Publishing
ANALYZING AN ADJUSTMENT WHEN ENDING MERCHANDISE INVENTORY IS GREATER THAN BEGINNING MERCHANDISE INVENTORY AFTER ADJUSTMENT Merchandise Inventory Jan 1 Bal. 294, 700. 00 Adj. (a) 4, 200. 00 (New Bal. 298, 900. 00) Income Summary Adj. (a) 4, 200. 00 Lesson 15 -1, page 370 © South-Western Educational Publishing
TERMS REVIEW inventory merchandise inventory Lesson 15 -1, page 371 © South-Western Educational Publishing
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