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   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

I. Bellwork: On iLearn

II. Objectives

• Differentiate the negative and positive aspects of an online community. 
• Identify methods to engage with others online in a respectful manner. 
• Describe the potential consequences of spending a lot of time online. 
  

III. Classwork

EverFi Ignition – Digital Wellness & Safety

Registrations Code:  094aec85
Finish Lesson 1 – Connections & Community

Start Lesson 2 – Safety & Privacy
Remember your score of the last EverFi assignment and don’t blow this off

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