Accounting – 1/25/18

I.  Bellwork

Go to H &R Block Budget Challenge – Login – Find the SCORING Tab

Questions &  Answers

  1. What three skill areas are the most important in determining your individual leaderboard score?
  2. Explain how to earn points toward your leaderboard score.
  3. Explain how to earn points toward your engagement score.

II Objective:

  • Complete a worksheet using proper procedures, making adjustments, and determining Net income/loss
  • Interpret information from a worksheet and construct financial statement in accordance with GAAP
  • Journalize and post closing entries for a service business organized as a proprietorship
  • Prepare a post-closing trial balance in accordance to GAAP

III.  Classwork

  • Use Aplia: Reinforcement Activity Part B – Page 238
    • Whatever you do not finish in class is homework orver the weekend


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