The Six-Column Work Sheet Chapter 8 $ The Six-Column Work Sheet $ Making Accounting Relevant The ability to organize information is an important skill. In your work, you’ll be asked to present ideas and data. $ In your classes, what information have you been asked to organize and present to others? What did you do to prepare for these presentations? $

$ $ $ $ Section 1 Preparing the Work Sheet What You’ll Learn Chapter 8 The purpose of the work sheet. The kinds of information contained in the heading. How to prepare a trial balance on a work sheet. How to rule a section of the work sheet. $ $

$ $ $ $ Why It’s Important Key Terms Chapter 8 work sheet ruling Section 1 Preparing the Work Sheet (cont'd.) $ Why It’s Important The work sheet is a tool the accountant uses to collect all the information needed for the end-of-period activities. $ $ Key Terms work sheet ruling $

$ $ $ $ The Sixth Step of the Accounting Cycle: The Work Sheet Chapter 8 Section 1 Preparing the Work Sheet (cont'd.) $ The Sixth Step of the Accounting Cycle: The Work Sheet A work sheet is used to collect information from the ledger accounts in one place. $ $ $

$ $ $ $ The Work Sheet Heading Chapter 8 (1) The name of the business Section 1 Preparing the Work Sheet (cont'd.) $ The Work Sheet Heading $ (1) The name of the business (Who?) (2) The name of the account-ing form $ (What?) $ (3) The period covered by the work sheet (When?)

$ $ $ $ The Account Name and Trial Balance Sections Chapter 8 Section 1 Preparing the Work Sheet (cont'd.) $ The Account Name and Trial Balance Sections $ $ $

$ $ $ $ Ruling and Totaling the Trial Balance Section Chapter 8 Section 1 Preparing the Work Sheet (cont'd.) $ Ruling and Totaling the Trial Balance Section Total debits must equal total credits. $ $ $

$ $ $ $ Check Your Understanding Chapter 8 Section 1 Preparing the Work Sheet (cont'd.) $ Check Your Understanding $ What is the purpose of the work sheet? $ $