CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 6-3 Extending Financial Statement Information on a Work Sheet

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 6-3 EXTENDING BALANCE SHEET ACCOUNT BALANCES ON A WORK SHEET page Debit balances without adjustments 2.Debit balances with adjustments 3.Credit balances without adjustments 3 2 1

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON 6-3 EXTENDING INCOME STATEMENT ACCOUNT BALANCES ON A WORK SHEET page Sales balance 2.Expense balances without adjustments 3.Expense balances with adjustments 1 3 2

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON Single rule 2.Totals 3.Net income RECORDING NET INCOME, AND TOTALING AND RULING A WORK SHEET 4.Extend net income6.Totals Single rule7.Double rule page 164

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 6-3 CALCULATING AND RECORDING A NET LOSS ON A WORK SHEET page Totals 3.Net loss 4.Extend net loss 1.Single rule

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 6 LESSON 6-2 PREPARING A WORK SHEET page 160 C 1.Write the heading. 2.Record the trial balance. 3.Record the supplies adjustment. 4.Record the prepaid insurance adjustment. 5.Prove the Adjustments columns. 6.Extend all balance sheet account balances. 7.Extend all income statement account balances. 8.Calculate and record the net income (or net loss). 9.Total and rule the Income Statement and Balance Sheet columns.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 7 LESSON 6-2

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 8 LESSON 6-2 1

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 9 LESSON 6-2 (b) (a) Net Income

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 10 LESSON 6-3 TERMS REVIEW balance sheet income statement net income net loss page 166