CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 22-1 Preparing a Work Sheet for a Corporation

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 22-1 INTEREST INCOME ADJUSTMENT 1.Debit Interest Receivable. 1 2 page Credit Interest Income.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON Credit Supplies. SUPPLIES ADJUSTMENT 1 2 page Debit Supplies Expense.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON Debit Federal Income Tax Expense. FEDERAL INCOME TAX ADJUSTMENT 2 1 page Credit Federal Income Tax Payable.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 22-1 COMPLETING A WORK SHEET page Total the Income Statement and Balance Sheet columns. 2.Calculate and enter the net income after federal income tax. 3.Extend the net income after federal income tax amount. 4.Calculate the column totals. 5.Rule double lines.