Accounting – 12/17/19

I.  Bellwork   Q&A

  1. What are the two classifications of accounts that are listed on an income statement?
  2. Explain the formula used for determining net income or net loss.

II.  Objectives:

  • Prepare and properly format an income statement for a service business using Google Sheets
  • calculate and analyze financial ratios using income statement accounts
  • Orally describe the parts of an income statement

III. Classwork

A. Decimal to Percentage – on iLearn
B. MindTap

  • Working together and On Your Own
  • 7-1 Application Problem p. 208


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