Day 24 (A)

TURN IN 2-2B

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. Turn to page 76 in your textbook and read Learning Objective 6 at the bottom of the page. Do Practice Exercise 6 without looking at the solution. Get the worksheet from your teacher to complete it.  Check your work with the solution on page 77.
  3. Turn to page 84 in your textbook. Do Exercise 2-6. Get the worksheet from your teacher to complete the problem. TURN IT IN.
  4. Open your textbook to page 86 and complete Problem 2-3A–Click this link to the spreadsheet needed to complete the problem.
    1. Click DOWNLOAD in the upper right corner.
    2. Click on the file in the lower left corner of your screen to open it
    3. Click Enable Editing
    4. File–Save As–Save it as YOUR NAME PROBLEM 2-3A (ex: SUE JONES PROBLEM 2-3A) to your Accounting folder
    5. When you are finished with Problem 2-3A–RAISE YOUR HAND TO SHOW ME or zoom out until the entire spreadsheet is visable, take a screenshot, compose a new email to me, paste the screenshot into the email (ctrl V) or send the file to me as an email attachment
  5. Open your textbook to page 91 and do the following:
    1. Problem 2-3B–Get a handout from your teacher & do #1-4 on the BLANK side of the handout.
    2. Do #5-8 on the Problem 2-3B (concluded) form side of the handout
    3. Go to page 88 and do Problem 2-5A on a blank area of the handout–be sure to clearly label the problem
    4. Go to page 93 and do Problem 2-5B on a blank area of the handout–be sure to clearly label the problem
    5. HAND IN WHEN YOU ARE DONE
  6. 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.
  7. EXTRA CREDIT: Start Here Go Places Scavenger Hunt