I. Journal Entries – Today

II. Multiple Choice & Financial Statement – Tomorrow

I. Precision Exam – Extra +5 Summative if you pass

II. Final Exam

A. Tuesday – Journal Entries & a financial statement (B/S or I/S)

B. Wednesday – Multiple Choice

I.  Bellwork

• .Page 237 Q&A 1-2 Show your work

II.  Objective:

• Analyze, Interpret, Journalize transactions in accordance to GAAP

III.  Final Days

• Part 1 on Tuesday – Multiple Choice
• Part 2 on Wednesday – Journal Entries &  Financial Statement??

IV.  Review for Final

• Practice Journal Entries on iLearn
• Multiple Choice on iLearn

V.  Finish all Mindtap and EverFi work

I. Bellwork Page 222

• Q&A 1-3

II.  Objectives

• Prepare a post-closing trial balance in accordance to GAAP
• Create a sequence map based upon information in the text to explain the steps required to correctly prepare a post-closing trial balance

III.  Discussion/Notebook

  Recording Closing Entries p. 223-230

IV.  Notebook

• Sequence map – Preparing a Post Closing Trial Balance 8-Steps

V.  Classwork

A.  Page 230

• Working Together 8-2  & On Your Own 8-2
• Application Problem 8-2

 I.  Bellwork

• Page 217 Critical Thinking 1-2 Q&A

II. Objectives

• Journalize and post closing entries for a service business organized as a proprietorship
• Explain the need for post-closing entries and demonstrate the process.

III.  Discussion/Notebook

A   Recording Closing Entries p. 214

• Accounting Cycle

• Permanent & Temporary Accounts
• Matching Expenses with Revenue – Closing Entries
• Income Summary Account – Closing Revenue & Expenses
• Capital Account – Closing Income Summary & Drawing

IV.   Classwork

• Page 222 Working Together 8-1 & On Your Own  – manually & on MindTap
• 8-1 Application Problem- Mindtap

I.  Objectives

• Apply terminology and concepts related to income statements and balance sheets
• Interpret information from a worksheet and construct financial statements (I/S an B/S) in accordance with GAAP

II. Chapter 7 Exam – on iLearn

A. Multiple Choice

B. Income Statement and Balance Sheet

I.  Bellwork

• Page 205 Q&A 1-2

II.  Objectives

• Review terminology and concepts related to income statements and balance sheets
• Interpret information from a worksheet and construct financial statements in accordance with GAAP

III.  Test Tomorrow

IV. Classwork

• Page D-7  Recycle Problem
• Review Sheet on Aplia

I.  Bellwork

A. What are the classifications (3)  of the accounts listed on the balance sheet?

B. What is the formula for updating the capital account on the balance sheet?

II.  Objectives:

• Prepare a balance sheet for a service business organized as a proprietorship.
• Interpret information from a worksheet to construct a balance sheet in accordance with GAAP

III.  Classwork on Aplia

• 7-2 Working Together and On Your Own
• 7-2 Application Problem

I. Bellwork   Q&A

Explain how each (3) of the  percentages of sales ratios on the income statement are calculated. Use words and formulas. (What is in the numerator and denominator?)

II. Objectives:

• Prepare a balance sheet for a service business organized as a proprietorship.
• Interpret information from a worksheet to construct a balance sheet in accordance with GAAP

III.  Section 7.2 Balance Sheet

• Heading of a Balance sheet
• Components of a Balance Sheet
• Formatting of a balance Sheet
• Determining the Capital Balance
  • Old Capital Balance – Drawing + Net Income or -(Net Loss) = New Capital Balance

IV.  Classwork : On Google Sheets

7-2 Working Together and On Your Own