© South-Western Educational Publishing 3 3.Total, prove, and rule the debit and credit columns. 1. Write the titles of the general ledger accounts. 2.Write.

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Presentation transcript:

© South-Western Educational Publishing 3 3.Total, prove, and rule the debit and credit columns. 1. Write the titles of the general ledger accounts. 2.Write the balance of each account TRANSFERRING GENERAL LEDGER ACCOUNT BALANCES TO A WORK SHEET RECORDING A TRIAL BALANCE ON A WORK SHEET Lesson 15-1, page

© South-Western Educational Publishing PLANNING ADJUSTMENTS ON A WORK SHEET Jan. 1 Bal.270, Merchandise Inventory DebitCredit Merchandise Inventory Lesson 15-1, page 368

© South-Western Educational Publishing BEFORE ADJUSTMENTS AFTER ADJUSTMENTS Income Summary Jan 1 Bal.270, (New Bal.254,640.00) ANALYZING A MERCHANDISE INVENTORY ADJUSTMENT Adj. (a)15, Merchandise Inventory Adj. (a)15, Lesson 15-1, page 369

© South-Western Educational Publishing RECORDING A MERCHANDISE INVENTORY ADJUSTMENT Label the two parts of this adjustment. 1. Write the debit amount. 2.Write the credit amount. 3 Lesson 15-1, page 370

© South-Western Educational Publishing ANALYZING AN ADJUSTMENT WHEN ENDING MERCHANDISE INVENTORY IS GREATER THAN BEGINNING MERCHANDISE INVENTORY AFTER ADJUSTMENT Income Summary Jan 1 Bal.294, Adj. (a)4, Merchandise Inventory Adj. (a)4, Lesson 15-1, page 370 (New Bal. 298,900.00)

© South-Western Educational Publishing T ERMS REVIEW inventory merchandise inventory Lesson 15-1, page 371