Accounting – 12/02/19

I.  Bellwork

  • Budget Challenge – Pay Bills

II. Objectives:

  • Determine which accounts appear on the Balance Sheet and Income Statement columns of a worksheet.
  • Explain the purpose of the Balance Sheet and Income Statement 
  • Discuss the steps for finding errors on a worksheet

III.  Discussion/Notebook Work

A.  Explain the purpose of the financial statements:

  • balance sheet
  • income statement

B.  Determining and Recording income statement and balance sheet account balances  on a worksheet

  • PPT 6-3
  • On iLearn:  Drill 7-D1 & 7-D2 

C.  Net Loss or Net Income

D.  Correcting Errors

IV. Classwork

  • Page 175 Vocabulary (5) & 1-5 Q&A

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