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

2. PLANNING ADJUSTMENTS ON A WORK SHEET
Merchandise Inventory
Debit
Credit
Merchandise Inventory
Jan. 1 Bal. 270,480.00
Lesson 15-1, page 376

3. ANALYZING A MERCHANDISE INVENTORY ADJUSTMENT
Lesson 15-1 (GJ)
ANALYZING A MERCHANDISE INVENTORY ADJUSTMENT
AFTER ADJUSTMENT
BEFORE ADJUSTMENT
Income Summary
Adj. (a) 15,840.00
Merchandise Inventory
Jan 1 Bal. 270,480.00
Jan 1 Bal. 270,480.00
Adj. (a) 15,840.00
(New Bal. 254,640.00)
Lesson 15-1, page 377

4. RECORDING A MERCHANDISE INVENTORY ADJUSTMENT3 2 1
1. Write the debit amount.
2. Write the credit amount.
3. Label the two parts of this adjustment.
Lesson 15-1, page 378

5. Merchandise Inventory
ANALYZING AN ADJUSTMENT WHEN ENDING MERCHANDISE INVENTORY IS GREATER THAN BEGINNING MERCHANDISE INVENTORY
AFTER ADJUSTMENT
BEFORE ADJUSTMENT
Merchandise Inventory
Jan 1 Bal. 294,700.00
Adj. (a) 4,200.00
(New Bal. 298,900.00)
Income Summary
Adj. (a) 4,200.00
Lesson 15-1, page 379

6. TERMS REVIEW
inventory
merchandise inventory
Lesson 15-1, page 379