Accounting 2 – 5/15/08
Objectives:
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Identify accounting concepts and practices related to financial statements for a merchandising business organized as a partnership.
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Analyze an income statement using component percentages for a merchandising business organized as a partnership.
I. Turn in WB pg 377
II. Bellwork pg. 409
A. 1-3 Q&A
III. 16-2 component percentages
A. Read & Discuss pgs. 405-400
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Analyzing an income statement
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Acceptable component percentage
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Analyzing component percentage
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Analyzing an I/S showing a net loss
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Actions to correct unacceptable percentage
IV. Review – PPT 16-2
V. Classwork pg. 409
A. 4-7 WB pgs. 369-370
B. Pg. 423 16-3 WB pgs. 379-381