FINISH:

REVIEW:

GOAL: Before you leave class today you will be able to:

  • Prepare a trial balance

RIGHT NOW:

  1. Open your textbook to page 67 & listen to this video about learning objective 5, the trail balance
  2. Read the “In the Real World” at the top of page 69
  3. Log in to your Cengage Now account
  4. Click ASSIGNMENTS
  5. Complete the Chapter 2 Objective 5 Assignment
  6. Click STUDY TOOLS
  7. Click ADAPTIVE STUDY PLAN
  8. Next to Chapter 2 – T Accounts, Debits and Credits, Trial Balance, and Financial Statements click RESUME STUDYING
  9. Click 5. Prepare a trial balance.
    1.  eBook – 2.5: The Trial Balance  — Review & study
    2. Show Me How: Prepare a trial balance.  — Watch it
    3. Practice! — Do it
    4. Practice! — Do it
    5. SHOW ME WHEN YOU ARE DONE
  10. In an email message to me, explain why it is important for an accountant to prepare a trial balance.

BEGIN:

REVIEW:

GOAL: Before you leave class today you will be able to:

  • Prepare an income statement, a statement of owner’s equity, and a balance sheet

RIGHT NOW:

  1. Open your textbook to page 68 & listen to this video about learning objective 6, the major financial statements
  2. Log in to your Cengage Now account
  3. Click ASSIGNMENTS
  4. Complete the Chapter 2 Objective 6 Assignment
  5. Click STUDY TOOLS
  6. Click ADAPTIVE STUDY PLAN
  7. Next to Chapter 2 – T Accounts, Debits and Credits, Trial Balance, and Financial Statements click RESUME STUDYING
  8. Click 6. Prepare (a) an income statement, (b) a statement of owner’s equity, and (c) a balance sheet.
    1. eBook – 2.6: Major Financial Statements — Review & study
    2. Show Me How: Prepare an income statement. — Watch it
    3. Show Me How: Prepare a statement of owner’s equity. — Watch it
    4. Show Me How: Prepare a balance sheet. — Watch it
    5. Practice! — Do it
    6. SHOW ME WHEN YOU ARE DONE
  9. In an email message to me, explain the order in which the financial statements are created and why it is important for them to be created in that order.