Accounting 1 – 5/16/08

Objective: 

  • Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component percentages.

 I.  Bellwork

A.  How is the total expense component percentage on an Income Statement determined?

B.  How is the Net Income component percentage determined on an Income Statement?

 II.  Classwork

A.  Use Excel to create 3 Income Statements for WB pages 157, 158, and 159. (Your papers are in the bin)

See Example – 8-1 Example

  1. Header:  Section 8-1 Income Statements
  2. Footer:  Name & Picture/Date/Hour – (No picture in Footer=No grade)


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