Accounting 1 -4/08/08
Objectives:
- · Identify accounting concepts and practices related to posting from a general journal to a general ledger.
- · Prepare a chart of accounts for a service business organized as a proprietorship.
I. Bellwork
A. Write the general number used for each account classification.
- Assets
- Liabilities
- Owner’s Equity
- Revenue
- Expenses
II. Notebook Work – MI Declining Industries
A. Based on the chart answer the following questions
- What does this chart demonstrate?
- Which declining indusrty has the most jobs?
- Which declining industry has the lowest wages?
- Which declining industry has the highest percent change decrease in weekly wages?
- Which declining industry has the highest percent change decrease in jobs?
III. Classwork
A) Chart of Accounts – Use Excel or Word to create Chart of Accounts for WB pages 65,66, and 77.