Day 58 (A)

REVIEW:

  • Browse to zzi.sh and enter this code: gzr9675 then take the Accounting Chapter 4 Learning Objective 4 Quiz. Let me know how it goes.

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 for a service business directly from the work sheet.

RIGHT NOW PICK UP WHERE YOU LEFT OFF LAST CLASS:

  1. Open your textbook to pages 164-168 & listen to this intro video about completion of the financial statements & how to make an income statement in Excel–OPEN YOUR CHAPTER 4 PRACTICE FILE & DO THE VIDEO–SHOW ME
  2. Watch, listen, & do this video about how to create a Statement of Owner’s Equity & a Balance Sheet in Excel–SHOW ME
  3. Watch this video about how to prepare an income statement involving more than one revenue account and a net loss, a statement of owner’s equity with an additional investment and either a net income or a net loss, a balance sheet for a business having more than one accumulated depreciation accountPAUSE THE VIDEO & SHOW ME WHEN INSTRUCTED TO DO SO IN THE VIDEO
  4. Go to page 183 and on a sheet of paper do Exercise 4-9. Turn it in.
  5. Go to the bottom of page 184 and do Problem 4-3A. Get the handout from your teacher to complete it. Put your name on it and turn it in when you are done.
  6. DOWNLOAD THIS FILE to complete Problem 4-4A on page 185 in your textbook. Show me when you are done.
  7. DOWNLOAD THIS FILE to complete Problem 4-5A on page 186. Print it 2 sided with your name in the header when you are done.
  8. In an email message to me, explain how a company may have:
    1. a net loss
    2. more than 1 revenue account
    3. more than 1 depreciation account