Accounting 1/09/08
Objectives
- Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component percentages
- Prepare a balance sheet for a service business organized as a proprietorship
I. Turn in Review Sheet
II. Bellwork – Determine the Sales Component Percentage for each company listed below. Round to the first decimal place.
|
1. Company A
|
2. Company B | 3. Company C |
| Sales $10,500.00 | Sales $13,000.00 | Sales $7,000.00 |
| Total Expenses $6,000.00 | Total Expenses $4,500.00 | Total Expenses $7,775.00 |
| Net Income $4,500.00 | Net Income $8,500.00 | Net Loss ($775.00) |
III. Classwork
A. Pg 188 Challenge Problem WB pg 167
B. Handout -use WB page 168
IV. Chapter 8 Test Tomorrow