century 21 accounting © 2009 south-western, cengage learning lesson 6-3 extending financial...
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 6-3LESSON 6-3
Extending Financial Statement Information on a Work Sheet
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
EXTENDING BALANCE SHEET ACCOUNT EXTENDING BALANCE SHEET ACCOUNT BALANCES ON A WORK SHEETBALANCES ON A WORK SHEET page 162
1. Debit balances without adjustments
2. Debit balances with adjustments
3. Credit balances without adjustments
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22
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
EXTENDING INCOME STATEMENT ACCOUNT EXTENDING INCOME STATEMENT ACCOUNT BALANCES ON A WORK SHEETBALANCES ON A WORK SHEET page 163
1. Sales balance
2. Expense balances without adjustments
3. Expense balances with adjustments
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33
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
1. Single rule
2. Totals
3. Net income
RECORDING NET INCOME, AND TOTALING RECORDING NET INCOME, AND TOTALING AND RULING A WORK SHEETAND RULING A WORK SHEET
4. Extend net income 6. Totals
66 773355
221144
5. Single rule 7. Double rule
page 164
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
CALCULATING AND RECORDING A NET CALCULATING AND RECORDING A NET LOSS ON A WORK SHEETLOSS ON A WORK SHEET page 165
2. Totals
3. Net loss
4. Extend net loss
1. Single rule 22
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33
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
PREPARING A WORK SHEETPREPARING A WORK SHEET page 160 C
1. Write the heading.
2. Record the trial balance.
3. Record the supplies adjustment.
4. Record the prepaid insurance adjustment.
5. Prove the Adjustments columns.
6. Extend all balance sheet account balances.
7. Extend all income statement account balances.
8. Calculate and record the net income (or net loss).
9. Total and rule the Income Statement and Balance Sheet columns.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
(b) 10000
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(b) 10000
(a) 71500
(a) 71500
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496400 10000 15000
11000
10000102500120000
200005000
50000062500
35650021300
280030000
881500 881500 81500 81500 146600 356500 734900 525000
356500 734900
4964001000015000
1000031000
11000020000
5000500000
62500
66
11000
21300
280030000
356500
10000
71500
77
209900 209900Net Income 8899
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22
55
356500 734900
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
TERMS REVIEWTERMS REVIEW
balance sheet income statement net income net loss
page 166