Objectives Define accounting terms related to adjusting entries for a service business organized as a proprietorship. Identify accounting concepts and practices related to adjusting entries for a service business organized as a proprietorship. Record adjusting entries for a service business organized as a proprietorship. I. Bellwork Pg 196 A. Terms & 1-3 Questions and Answers […]

Objectives: Identify accounting concepts and practices related to preparation of an income statement and balance sheet for a business organized as a proprietorship. Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component percentages. Prepare a balance sheet for a service business organized as a proprietorship […]

Objectives Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component percentages Prepare a balance sheet for a service business organized as a proprietorship I.  Turn in Review Sheet II.  Bellwork –  Survey III.  Classwork A.  Pg 188 Challenge Problem WB pg 167 B.  Handout -use WB […]

 Objectives Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component percentages Prepare a balance sheet for a service business organized as a proprietorship I.  Bellwork pg. 186 A. Define: Comparative Financial Statements Interim Financial Statements II. Classwork A.) Pg 188 Mastery Problem WB pg 165 […]

Objective:  Prepare a balance sheet for a service business organized as a proprietorship I.  Bellwork – 10 minutes A.  Determine the new capital amount for each Company 1.  Company A 2.  Company B  3.  Company C  Capital is $32,500  Capital is $46,500  Capital is $16,500  Drawing is $6,000  Drawing is $4,000  Drawing is $800  Net […]

Objectives Identify accounting concepts and practices related to the preparation of a balance sheet for a service business organized as a proprietorship. Prepare a balance sheet for a service business organized as a proprietorship I. Bellwork  A.  Pg 185 1-2 Q & A II. 8-2 Balance sheet A. Read and discuss pages 180-184 Balance sheet Heading […]

Objective:  Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component percentages.  I.  Bellwork A.  How is the total expense component percentage on an Income Statement determined? B.  How is the Net Income component percentage determined on an Income Statement?  II.  Classwork A.  Use Excel to create 3 Income Statements […]

Objectives: Define an accounting term related to financial statements for a service business organized as a proprietorship. Identify accounting concepts and practices related to preparation of an income statement for a service business organized as a proprietorship. Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using […]

 Objectives: Define accounting terms related to a work sheet for a service business organized as a proprietorship. Identify accounting concepts and practices related to a work sheet for a service business organized as a proprietorship. Complete a work sheet for a service business organized as a proprietorship. I.  Bellwork A.  Identify which column of a […]

Objectives:  · Identify selected procedures for finding and correcting errors in accounting records. I.  Bellwork pg 167 A.  1-3 Q & A  II.  Classwork A.  Chapter 7 Review Sheet B.  Problem C-7 III.  Chapter 7 Test Tomorrow