Welcome Back Atef Abuelaish.

Welcome Back Atef Abuelaish

Welcome Back Time for Any Question Atef Abuelaish

Atef Abuelaish

CHAPTER # 05 REVIEW Atef Abuelaish

Chapter 05 Adjustments and Atef Abuelaish

Adjustments and Worksheet
Chapter 05 Adjustments and Worksheet Atef Abuelaish

Adjustments and the Worksheet
Section 1: The Worksheet Section Objectives Chapter 4 introduced and explained how to use the general journal and the general ledger. Chapter 5 shows how to complete and use the worksheet. It also shows how to prepare and record adjustments for unrecorded business transactions. We will also continue using the general journal and general ledger to journalize and post the new adjusting entries introduced in the chapter. Section one of the chapter introduces us to a “worksheet.” 5-1 Complete a trial balance on a worksheet. 5-2 Prepare adjustments for unrecorded business transactions. Atef Abuelaish

The Accounting Cycle Step 2 Journalize the data about transactions
Step 2 Journalize transactions Step 3 Post transactions to the ledger Step 1 Analyze and classify transactions Step 1 Analyze transactions Step 4 Prepare a worksheet Step 5 Prepare financial statements Here are the steps in the accounting cycle. The accounting cycle is a series of steps performed during each accounting period to classify, record, and summarize data for a business and to produce needed financial information. Take a moment to review the steps. Let’s take a look at these steps in more detail. Step 9 Evaluate and communicate financial information Step Journnalize adjusting entries Step 7 Journalize closing entries Step 8 Prepare a postclosing trial balance Atef Abuelaish

Wells’ Consulting Services
Complete a trial balance on a worksheet. The worksheet has an Account Name column The worksheet also has five sections Each section has two columns ACCOUNT NAME Wells’ Consulting Services Worksheet Month Ended December 31, 2016 TRIAL BALANCE ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Let’s begin by entering the trial balance on the worksheet. What is a worksheet? It is a tool that accountants use at the end of an accounting period. The worksheet has three parts to the heading just like a financial statement. The heading answers Who, What and When. The first column of a worksheet is the Account Name column. The worksheet has five sections. Each section has a debit and a credit column. So, this can also be called a 10-column worksheet. Atef Abuelaish

Complete the Trial Balance section in four steps:
1. Enter the general ledger account names. 2. Transfer the general ledger account balances to the Debit and Credit columns of the Trial Balance section. 3. Total the Debit and Credit columns to prove that the trial balance is in balance. To enter a trial balance on the worksheet, you would follow these steps: 4. Place a double rule under each Trial Balance column to show that the work in that column is complete. Atef Abuelaish

Step 1: Enter the general ledger account names.
CREDIT TRIAL BALANCE BALANCE SHEET ADJ. TRIAL BAL. ADJUSTMENTS INCOME STMT. DEBIT ACCOUNT NAME Wells’ Consulting Services Worksheet Month Ended December 31, 2016 Cash Accounts Receivable Supplies Prepaid Rent Equipment Accum. Depr.—Equip. Carolyn Wells, Cap. Accounts Payable Carolyn Wells, Draw. Fees Income Salaries Expense Utilities Expense Supplies Expense Rent Expense Depr. Exp.—Equip. Totals Step 1: Enter the general ledger account names. ACCOUNT NAME Carter Consulting Service Worksheet Month Ended December 31, 2004 TRIAL BALANCE BALANCE SHEET ADJ. TRIAL BAL. ADJUSTMENTS INCOME STATEMENT CREDIT DEBIT Cash These four new accounts will be used for the adjustments. The first step is to enter the general ledger account names. We will need to add four new accounts at this time so that we can make adjustments at the end of the month. If you are not sure whether you need any additional accounts or what those account names will be, remember you can add them at the bottom of the existing list of accounts in that column. **If additional new expense accounts are needed in the adjustment process, add them to the bottom of the ACCOUNT NAME column. Atef Abuelaish

Step 2: Transfer the general ledger account balances to the Debit and Credit columns of the Trial Balance section. Wells’ Consulting Services Worksheet Month Ended December 31, 2016 TRIAL BALANCE ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 111,350 Accounts Rec. ACCOUNT ____________________________ ACCOUNT NO. ________ DATE DESCRIPTION POST REF. DEBIT CREDIT BALANCE Cash 101 Supplies Prepaid Rent Next, using the general ledger, we transfer the account balances to the DEBIT and CREDIT columns of the Trial Balance section. Equipment Accum. Depr. 2016 64,400 Nov. 30 Dec. 31 Bal. forward 87,000 123,000 125,000 117,000 116,350 111,350 Accounts Pay. J2 36,000 2,000 C. Wells, Cap. 8,000 650 5,000 C. Wells, Draw. Atef Abuelaish

Step 3: Total the Debit and Credit columns to prove that the trial balance is in balance.
111,350 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash Accounts Receivable Step 4: Place a double rule under each Trial Balance column to show that the work in that column is complete. Supplies Prepaid Rent Equipment Accum. Depr.—Equip. Accounts Payable Carolyn Wells, Cap. Carolyn Wells, Draw. After entering all of the balances from the general ledger, we need to “foot” the columns in the Trial Balance section. To foot a column means to add the numbers in that column. They MUST BALANCE BEFORE MOVING TO THE NEXT SET OF COLUMNS. When you insure that the debits equal the credits, you are ready to complete step 4 which is to place a double rule underline under the trial balance columns to show that the work in the columns is complete. Fees Income Salaries Expense Utilities Expense Supplies Expense Rent Expense Depr. Exp.—Equip. Totals Atef Abuelaish 150, ,500

Prepare adjustments for unrecorded business transactions.
TRIAL BALANCE DEBIT CREDIT 111,350 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash Accounts Receivable Supplies Prepaid Rent Equipment Accum. Depr.—Equip. Accounts Payable Carolyn Wells, Cap. Carolyn Wells, Draw. Now it is time to move to the next set of columns. We need to prepare adjustments for unrecorded business transactions. Let’s make some adjustments. The process of updating accounts at the end of an accounting period for unrecorded items that belong to the period is referred to as making adjustments or adjusting entries. The adjustments are made in the ADJUSTMENTS column. Adjusting entries are first entered in the Adjustments section of the worksheet Fees Income Salaries Expense Utilities Expense Supplies Expense Rent Expense Depr. Exp.—Equip. Totals Atef Abuelaish 150, ,500

The Supplies Adjustment
Wells’ Consulting Services began the month with $1,500 in supplies. At the end of the month, $1,000 in supplies remained. QUESTION: What dollar amount of supplies was used during the month? $1,500 1,000 ANSWER: Let’s first discuss the supplies adjustment. The business purchased $1,500 of supplies during the month but by the end of the month, only $1,000 of supplies are left. This implies that we must have used $500 of supplies. Wells’ Consulting Services must make an adjustment to show that the company used $500 in supplies during the month. To do this we debit supplies expense and credit the asset supplies for the $500 used up. $500 Atef Abuelaish

Worksheet Month Ended December 31, 2016 TRIAL BALANCE DEBIT CREDIT 111,350 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 150, ,500 ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash Accounts Receivable Supplies (a) 500 Prepaid Rent Equipment Accum. Depr.—Equip. Accounts Payable Carolyn Wells, Cap. Carolyn Wells, Draw. We can use the worksheet to show this adjustment. We credit the Supplies account $500 and debit the Supplies Expense account $500. Notice the letter (a) by both of the adjustments. By “keying” the adjustment with a letter reference the accountant can better see the debit and credit amounts of the adjustment. Fees Income Salaries Expense Utilities Expense Supplies Expense (a) 500 Rent Expense Depr. Exp.—Equip. Totals Atef Abuelaish

The Prepaid Adjustment
On November 20, 2016, Wells’ Consulting Services paid $8,000 for the December and January rent. As of December 31, 2016, one month’s rent had already been used up. QUESTION: What dollar amount of rent was used during the month of December? $8,000 4,000 ANSWER: Now let’s take a look at the adjustment for expired rent. Recall that the company paid for two months rent in advance. By the end of the month, one month had expired so we need to reduce the Prepaid Rent account by the amount for one month’s rent. $4,000 Atef Abuelaish

Worksheet Month Ended December 31, 2016 TRIAL BALANCE DEBIT CREDIT 111,350 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 150, ,500 ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash Accounts Receivable Supplies (a) 500 Prepaid Rent (b) 4,000 Equipment Accum. Depr.—Equip. Accounts Payable Carolyn Wells, Cap. Carolyn Wells, Draw. When we originally paid the two months of rent we debited prepaid rent and credited cash. This means that one month of rent was equal to $4,000. Wells’ Consulting Services must make an adjustment to show that $4,000 of the prepaid rent has expired. We will debit the Rent Expense account by $4,000 and credit the Prepaid Rent account by $4,000. Here is how we enter the adjustment in the worksheet. Notice the letter “b” has been placed next to both the debit and the credit. Fees Income Salaries Expense Utilities Expense Supplies Expense (a) 500 Rent Expense (b) 4,000 Depr. Exp.—Equip. Totals Atef Abuelaish

Depreciation The cost is recorded as an asset and charged to expense over the time the asset is used for the business. Asset Pie Dec. 2013 Expense Feb. 2014 Expense Now let’s move on to the concept of depreciation. When we buy an asset that will be used for many years, we will expense a portion of the cost of the asset during each of the periods that the asset benefits. This is called depreciation. Depreciation is the process of allocating the cost of long term assets over their useful lives. We do not record the cost as an expense at the time that the asset was purchased. The cost is recorded as an asset (such as equipment or building) and charged to expense over the time the asset is used in the business. This periodic expensing of the original cost is called cost allocation or DEPRECIATION. Jan. 2014 Expense This expense is called depreciation Atef Abuelaish

Estimated months of useful life
There are several methods to calculate depreciation. Wells’ Consulting Services uses the straight-line method. QUESTION: What is straight-line depreciation? Straight-line depreciation (S/L) allocates an asset’s cost in equal amounts to each accounting period of its useful life. ANSWER: Cost - salvage value Estimated months of useful life S/L depreciation = We will be using the straight-line depreciation method to figure the periodic adjustment for depreciation. The salvage value of an asset represents what we estimate it will be worth at the end of its useful life. Atef Abuelaish

Calculating Depreciation
Wells’ Consulting Services purchased equipment in November, 2016. · Cost = $11,000 · Useful life = 5 yrs or 60 months (5 yrs x 12 months) · Salvage value = $0 QUESTION: What dollar amount of depreciation expense should be recorded for the month? $11,000 - $0 60 months Cost - salvage value Estimated months of useful life When figuring depreciation, we need to understand what salvage value means. Salvage value is an estimate of the amount that may be received by selling or disposing of an asset at the end of its useful life. The equipment does not have any salvage value and we expect to use it for five years in the business. In applying the straight-line formula, we calculate a monthly depreciation amount of $183. ANSWER: $183 Atef Abuelaish

Adjustment for Depreciation Accumulated Depreciation—
Instead of decreasing the asset account directly, the adjustment for depreciation is recorded in a contra account named Accumulated Depreciation—Equipment. Equipment Accumulated Depreciation— Equipment + + In making the $183 depreciation adjustment, we do not credit the asset account directly, instead we credit a different account. We will credit a contra-asset account called Accumulated Depreciation –Equipment. This account will accumulate the amount of the asset’s cost that has been expensed (depreciated) over the life of the asset. Asset account has a normal debit balance Contra asset account has a normal credit balance Atef Abuelaish

When all adjustments are entered, total and rule the
Wells’ Consulting Services Worksheet Month Ended December 31, 2016 TRIAL BALANCE DEBIT CREDIT 111,350 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 150, ,500 ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash Accounts Receivable Supplies (a) 500 Prepaid Rent (b) 4,000 Equipment Accum. Depr.—Equip. (c) 183 Accounts Payable When all adjustments are entered, total and rule the Adjustments columns. Carolyn Wells, Cap. Carolyn Wells, Draw. Letter “c” is written next to the debit and credit of the journal entry in the worksheet that shows the depreciation adjustment. When all of the adjustments have been completed, “foot” the columns to insure that they balance. Fees Income Salaries Expense Utilities Expense Supplies Expense (a) 500 Rent Expense (b) 4,000 Depr. Exp.—Equip. (c) 183 Totals Atef Abuelaish 4,683 4,683

Accumulated Depreciation—
Book Value Equipment Accumulated Depreciation— Equipment 11,000 183 Original cost of equipment Record of all depreciation taken on equipment Book value shows what the asset’s net cost is on the books of the business. By “net cost,” we mean its original cost less the depreciation taken to date. It is the un-expensed portion of the original cost. The book value of our equipment right after the first depreciation adjustment is $11,000 – $183 = $10,817. Book value = Original cost – Accumulated depreciation = ,000 – 183 = ,817 Atef Abuelaish

Adjustments and the Worksheet
Chapter 5 Adjustments and the Worksheet Section 2: Financial Statements Section Objectives 5-3 Complete the worksheet. 5-4 Prepare an income statement, statement of owner's equity, and balance sheet from the completed worksheet. 5-5 Journalize and post the adjusting entries. The third objective of the chapter is to be able to complete the worksheet. Atef Abuelaish

Complete the worksheet
You have already seen how to prepare the first two sections of a worksheet: Trial Balance Adjustments You will now learn how to complete a worksheet. We are now ready to prepare the next set of columns on the worksheet. Preparing a worksheet is the fourth step of the accounting cycle. Atef Abuelaish

Step 1: Combine the figures from the Trial Balance section and the Adjustments section. Record the results in the Adjusted Trial Balance columns. ADJUSTMENTS CREDIT ACCOUNT NAME Cash Accounts Receivable Supplies Prepaid Rent Equipment Accum. Depr.—Equip. Accounts Payable Fees Income Salaries Expense Utilities Expense Supplies Expense Rent Expense Depr. Exp.—Equip. Totals DEBIT (a) 500 (b) 4,000 (c) 183 4,683 TRIAL BALANCE 111,350 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 150, ,500 Carolyn Wells, Cap. Carolyn Wells, Draw. ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Notice that the third section of the work sheet is the Adjusted Trial Balance section. This is where we do “horizontal math” and combine the first set of columns with the second set of adjustments columns. Atef Abuelaish

The accounts that do not have adjustments are extended from the Trial Balance section to the Adjusted Trial Balance section. 111,350 ADJ. TRIAL BAL. DEBIT CREDIT ADJUSTMENTS ACCOUNT NAME Cash Accounts Receivable Supplies Prepaid Rent Equipment Accum. Depr.—Equip. Accounts Payable Fees Income Salaries Expense Utilities Expense Supplies Expense Rent Expense Depr. Exp.—Equip. Totals (a) 500 (b) 4,000 (c) 183 4,683 TRIAL BALANCE 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 150, ,500 Carolyn Wells, Cap. Carolyn Wells, Draw. INCOME STMT. BALANCE SHEET DEBIT CREDIT DEBIT CREDIT 5,000 11,000 3,500 100,000 8,000 650 47,000 Cash had no adjustments so its balance carries over to the Adjusted Trial balance section. The same with Accounts Receivable and so on. Atef Abuelaish

($1,500 debit and $500 credit = $1,000)
The Supplies account has a $1,500 debit balance in the Trial Balance section and a $500 credit in the Adjustments section. ($1,500 debit and $500 credit = $1,000) 111,350 ADJ. TRIAL BAL. DEBIT CREDIT ADJUSTMENTS ACCOUNT NAME Cash Accounts Receivable Supplies Prepaid Rent Equipment Accum. Depr.—Equip. Accounts Payable Fees Income Salaries Expense Utilities Expense Supplies Expense Rent Expense Depr. Exp.—Equip. Totals (a) 500 (b) 4,000 (c) 183 4,683 TRIAL BALANCE 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 150, ,500 Carolyn Wells, Cap. Carolyn Wells, Draw. INCOME STMT. BALANCE SHEET DEBIT CREDIT DEBIT CREDIT 5,000 11,000 3,500 100,000 8,000 650 47,000 1,000 4,000 183 Our first account which had an adjustment is Supplies. It started with a $1,500 debit balance, then we credited it for $500. We carry the new adjusted balance of $1,000 to the Adjusted Trial Balance section. The second adjustment was to record the expired rent. The third adjustment was for depreciation. After each one, the new extended total is carried over to the trial balance. 500 4,000 183 Atef Abuelaish

Step 2: Total the Debit and Credit columns in the Adjusted Trial Balance section. Confirm that debits equal credits. 111,350 ADJ. TRIAL BAL. DEBIT CREDIT ADJUSTMENTS ACCOUNT NAME Cash Accounts Receivable Supplies Prepaid Rent Equipment Accum. Depr.—Equip. Accounts Payable Fees Income Salaries Expense Utilities Expense Supplies Expense Rent Expense Depr. Exp.—Equip. Totals (a) 500 (b) 4,000 (c) 183 4,683 TRIAL BALANCE 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 150, ,500 Carolyn Wells, Cap. Carolyn Wells, Draw. 500 4000 183 1,000 4,000 INCOME STMT. BALANCE SHEET DEBIT CREDIT DEBIT CREDIT 183 Make sure to “foot” the columns of the Adjusted Trial Balance section to insure that they balance. Atef Abuelaish 150, ,683

For accounts that appear on the balance sheet, enter the amount in the appropriate column of the Balance Sheet section. For accounts that appear on the income statement, enter the amount in the appropriate column of the Income Statement section. 111,350 ADJ. TRIAL BAL. DEBIT CREDIT ADJUSTMENTS ACCOUNT NAME Cash Accounts Receivable Supplies Prepaid Rent Equipment Accum. Depr.—Equip. Accounts Payable Fees Income Salaries Expense Utilities Expense Supplies Expense Rent Expense Depr. Exp.—Equip. Totals (a) 500 (b) 4,000 (c) 183 4,683 TRIAL BALANCE 3,500 100,000 5,000 47,000 8,000 650 11,000 1,500 150, ,500 Carolyn Wells, Cap. Carolyn Wells, Draw. 500 4000 183 1,000 4,000 INCOME STMT. BALANCE SHEET DEBIT CREDIT DEBIT CREDIT 183 Now we move to the final steps of completing the worksheet. Transfer the accounts which belong on the Balance sheet to the Balance Sheet section. Transfer the accounts which belong on the income statement to the Income statement section. Only assets, liabilities, and the owner’s capital account belong on the balance sheet. Revenues and Expenses belong on the income statement. The only exception to this rule of “balance sheet” and “income statement” is the drawing account. This account, when included in the adjusted trial balance is moved over to the “Balance Sheet” section even though it doesn‘t’ show up on that statement; rather it shows up on the statement of Owner’s Equity. Atef Abuelaish 150, ,683

After all the account balances are transferred to the financial statement sections, total the Debit and Credit columns. TRIAL BALANCE ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 111,350 111,350 111,350 Accounts Receivable 5,000 5,000 5,000 Supplies 1,500 (a) 500 1,000 1,000 Prepaid Rent 8,000 (b) 4,000 4,000 4,000 Equipment 11,000 11,000 11,000 Accum. Depr.—Equip. (c) 183 183 183 Accounts Payable 3,500 3,500 3,500 Carolyn Wells, Cap. 100,000 100,000 100,000 Carolyn Wells, Draw. After all balances have been transferred, “foot” the four columns. Notice that the totals of the last two sections, “Income Statement” and “Balance Sheet” do NOT balance. More on the next slide. 5,000 5,000 5,000 Fees Income 47,000 47,000 47,000 Salaries Expense 8,000 8,000 8,000 Utilities Expense 650 650 650 Supplies Expense (a) 500 500 500 Rent Expense (b) 4,000 4000 4,000 Depr. Exp.—Equip. (c) 183 183 183 Totals Atef Abuelaish 150, ,500 4,683 4,683 150, ,683 13,333 47,000 137,350 103,683

Subtract the smaller total from the larger total in the Income Statement section to find the Net Income or Net Loss. TRIAL BALANCE ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 111,350 111,350 111,350 Accounts Receivable 5,000 5,000 5,000 Supplies 1,500 (a) 500 1,000 1,000 Prepaid Rent 8,000 (b) 4,000 4,000 4,000 Equipment 11,000 11,000 11,000 Accum. Depr.—Equip. (c) 183 183 183 Accounts Payable 3,500 3,500 3,500 Carolyn Wells, Cap. 100,000 100,000 100,000 Carolyn Wells, Draw. 5,000 5,000 5,000 Fees Income 47,000 47,000 47,000 Focus on the Income Statement section and subtract the smaller column total from the larger column total. You will notice that the totals of the columns do not balance. The difference is considered net income or net loss. Salaries Expense 8,000 8,000 8,000 Utilities Expense 650 650 650 Supplies Expense (a) 500 500 500 Rent Expense (b) 4,000 4000 4,000 Depr. Exp.—Equip. (c) 183 183 183 Totals 150, ,500 4,683 4,683 150, ,683 13,333 47,000 137,350 103,683 Net Income Atef Abuelaish

Enter the amount on the Net Income line. (47,000 – 13,333 = 33,667)
If the credit total is more than the debit total, the firm has net income. . . Enter the amount on the Net Income line. (47,000 – 13,333 = 33,667) Net Income 150, ,683 CREDIT BALANCE SHEET INCOME STMT. DEBIT 111,350 5,000 1,000 4,000 11,000 3,500 100,000 47,000 8,000 650 500 183 13,333 137,350 103,683 ADJ. TRIAL BAL. ADJUSTMENTS ACCOUNT NAME Cash Accounts Receivable Supplies Prepaid Rent Equipment Accum. Depr.—Equip. Accounts Payable Fees Income Salaries Expense Utilities Expense Supplies Expense Rent Expense Depr. Exp.—Equip. Totals (a) 500 (b) 4,000 (c) 183 4,683 TRIAL BALANCE 1,500 150, ,500 Carolyn Wells, Cap. Carolyn Wells, Draw. 4000 33,667 183 183 For Wells’ Consulting Services, they had $33,667 of net income for the period. Place this amount in the debit column so that both of the income statement columns now balance. Place the same amount of $33,667 in the credit column of the Balance Sheet section. After doing this, the two columns of the Balance Sheet section will also balance. This has the effect of “adding” the net income to the owner’s capital account. (Notice it’s on the credit side of the Balance Sheet section.) Atef Abuelaish

Total the Income Statement and the Balance Sheet sections.
TRIAL BALANCE ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 111,350 111,350 111,350 Accounts Receivable 5,000 5,000 5,000 Supplies 1,500 (a) 500 1,000 1,000 Prepaid Rent 8,000 (b) 4,000 4,000 4,000 Equipment 11,000 11,000 11,000 Accum. Depr.—Equip. (c) 183 183 183 Accounts Payable 3,500 3,500 3,500 Carolyn Wells, Cap. 100,000 100,000 100,000 Carolyn Wells, Draw. 5,000 5,000 5,000 Fees Income 47,000 47,000 47,000 Salaries Expense You can see that the “footed” columns of the Income Statement and Balance Sheet sections now balance. 8,000 8,000 8,000 Utilities Expense 650 650 650 Supplies Expense (a) 500 500 500 Rent Expense (b) 4,000 4000 4,000 Depr. Exp.—Equip. (c) 183 183 183 Totals 150, ,500 4,683 4,683 150, ,683 13,333 47,000 137,350 103,683 Net Income 33,667 33,667 47,000 47,000 137,350 137,350 Atef Abuelaish

Step 3 Post the data about transactions Step 1 Analyze transactions Step 4 Prepare a worksheet Step 5 Prepare financial statements Step 5 Prepare financial statements Preparing the financial statements is the fifth step in the accounting cycle. Step 9 Interpret the financial information Step Record adjusting entries Step 7 Record closing entries Step 8 Prepare a postclosing trial balance Atef Abuelaish

Prepare financial statements from the worksheet
Wells’ Consulting Services Income Statement Month Ended December 31, 2016 Revenue Fees Income $47,000 Expenses Salaries Expense $8,000 Utilities 650 Supplies Expense 500 Rent Expense 4,000 Depreciation Expense - Equipment 183 Total Expenses $13,333 Net Income for the Month $33,667 Objective Four requires that we prepare an income statement, statement of owner’s equity, and balance sheet from the completed worksheet. Use the Income Statement section of the worksheet for the amounts to carry to the income statement. You can see that the income statement is now easy to prepare. It’s just a matter of transferring the numbers over into a proper income statement format. Atef Abuelaish

Wells’ Consulting Services Statement of Owner’s Equity
Month Ended December 31, 2016 Carolyn Wells, Capital, December 1, 2016 $ 100,000 Net Income for December $33,667 Less Withdrawals for December 5,000 Increase in Capital 28,667 Carolyn Wells, Capital, December 31, 2016 $128,667 The statement of owner’s equity reports the changes that have occurred in the owner’s financial interest (the owner’s capital account) during the reporting period. Here is the Statement of Owner’s Equity for Wells’ Consulting Services. The beginning capital balance came from the (unadjusted) trial balance column, the amount of net income came from the worksheet. Atef Abuelaish

Account Form of Balance Sheet
Wells’ Consulting Services Balance Sheet December 31, 2016 Assets Cash $111,350.00 Accounts Receivable , Supplies ,000.00 Prepaid Rent ,000.00 Equipment ,817.00 Total Assets $ 132,167.00 Liabilities Accounts Payable $ 3,500.00 Owner’s Equity Carolyn Wells, Capital ,667.00 Total Liabilities and Owner’s Equity $ 132,167.00 In addition to the account form of a balance sheet that was previously used in chapter four, there is also a report form of a balance sheet, which shows the balance sheet data in a vertical format. In actual practice the report form is used most often. Atef Abuelaish

Report Form of Balance Sheet
Wells’ Consulting Services Balance Sheet December 31, 2016 Assets Cash $111,350 Accounts Receivable 5,000 Supplies 1,000 Prepaid Rent 4,000 Equipment $11,000 Less Accumulated Depreciation 183 10,817 Total Assets $132,167 Liabilities and Owner’s Equity Liabilities Accounts Payable $ 3,500 Owner’s Equity Carolyn Wells, Capital 128,667 Total Liabilities and Owner’s Equity And here it is. This balance sheet has been prepared using a report form format. All accounts, both asset and liabilities and owner’s equity are listed. Atef Abuelaish

Journalize and post the adjusting entries
The worksheet is NOT A financial statement A permanent part of the accounting records It is only a tool. Remember, a worksheet is just a tool that accountants use. It is not a formal financial statement. The adjustments shown on the worksheet must become part of the permanent accounting records. Each adjustment is journalized and posted to the general ledger accounts. The fifth objective of this chapter is to journalize and post the adjusting entries. Atef Abuelaish

Step 3 Post the data about transactions Step 1 Analyze transactions Step 4 Prepare a worksheet Step 5 Prepare financial statements Recording the adjusting journal entries is also the sixth step in the accounting cycle. Step 9 Interpret the financial information Step Record adjusting entries Step Record adjusting entries Step 7 Record closing entries Step 8 Prepare a postclosing trial balance Atef Abuelaish

What adjustments must Wells’ Consulting Services record for the month?
QUESTION: Adjustment for supplies used. Adjustment for expired rent. Adjustment for depreciation. ANSWER: Atef Abuelaish

GENERAL JOURNAL PAGE 3 POST. DATE DESCRIPTION REF . DEBIT CREDIT
Adjusting Entries Dec Supplies Expense Supplies 31 Rent Expense Prepaid Rent 31 Depr. Expense–Equipment Accum. Depr.–Equipment ACCOUNT Supplies Expense ACCOUNT NO POST BALANCE DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT Here is the first adjusting journal entry which has been posted to the supplies expense ledger account. You can take a moment and review the posting steps. The other ones are posted in a similar manner. After all adjustments have been posted, all accounts in the financial records are up to date. Adjustments are usually made on the last day of the accounting period. 2016 Dec. 31 Adjusting J3 500.00 Atef Abuelaish

Chapter 06 Closing Entries and Atef Abuelaish

Closing Entries and Postclosing Trial Balance
Chapter 06 Closing Entries and Postclosing Trial Balance Atef Abuelaish

Closing Entries and the Postclosing Trial Balance
Chapter 6 Closing Entries and the Postclosing Trial Balance Section 1: Closing Entries Section Objectives Chapter 5 introduced and showed how to use the worksheet. It also covered the preparation of adjusting entries and financial statements. Chapter 6 completes the accounting cycle by showing how the books are closed before the next financial period begins. In this first section, we learn how to make closing entries. 6-1 Journalize and post closing entries. Atef Abuelaish

The Accounting Cycle Step 2 Journalize the data about transactions Step 3 Post the data about transactions Step 1 Analyze transactions Step 4 Prepare a worksheet Step 5 Prepare financial statements Step 9 Interpret the financial information Step Journalize and post adjusting entries Journalizing and posting closing entries is the seventh step in the accounting cycle. Closing entries are journal entries which are completed at the end of an accounting cycle so that the business can start fresh in the next accounting period. Closing entries are journal entries that transfer the results of operations (net income or net loss) to owner’s equity and reduce the revenue, expense, and drawing account balances to zero. Step 7 Journalize and post closing entries Step 7 Journalize and post closing entries Step 8 Prepare a postclosing trial balance The seventh step in the accounting cycle is to journalize and post closing entries Atef Abuelaish

What is the Income Summary account?
QUESTION: What is the Income Summary account? The Income Summary account is a special owner’s equity account that is used only in the closing process to summarize the results of operations. ANSWER: The Income Summary account is only used during the closing process. Atef Abuelaish

Income Summary Account
Classified as a temporary owner’s equity account. Does not have a normal balance. Has a zero balance after the closing process and remains with a zero balance until the closing procedure for the next period. The Income Summary account is classified as a temporary owner’s equity account which will have a zero balance at the end of the accounting period. Atef Abuelaish

Journalize and post closing entries.
There are four steps in the closing process: 1. Transfer the revenue account balances to the Income Summary account. 2. Transfer the expense account balances to the Income Summary account. 3. Transfer the Income Summary account balance to the owner’s capital account. Let’s further discuss the closing process. Objective one is to journalize and post closing entries. There are four steps in the closing process: close the revenue accounts, close the expense accounts, close the income summary account, and close the drawing account. 4. Transfer the drawing account balance to the owner’s capital account. Atef Abuelaish

Worksheet Month Ended December 31, 2016 TRIAL BALANCE ADJUSTMENTS ADJ. TRIAL BAL. INCOME STMT. BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 111,350 111,350 111,350 Accounts Receivable 5,000 5,000 5,000 Supplies 1,500 (a) 500 1,000 1,000 Prepaid Rent 8,000 (b) 4,000 4,000 4,000 Equipment 11,000 11,000 11,000 Accum. Depr.—Equip. (c) 183 183 Accounts Payable 3,500 3,500 3,500 Carolyn Wells, Cap. 100,000 100,000 100,000 Carolyn Wells, Draw. 5,000 5,000 5,000 Fees Income 47,000 47,000 47,000 Salaries Expense 8,000 8,000 8,000 Utilities Expense The closing process begins by closing out all revenue accounts to zero. By reviewing the worksheet from the previous chapter, we will note that we only have one revenue account, Fees Income. So, we need to close the one revenue account to zero. Currently Fees Income has a $47,000 credit balance on the worksheet. Fees Income is closed to the Income Summary account. 650 650 650 Supplies Expense (a) 500 500 500 Rent Expense (b) 4,000 4,000 4,000 Depr. Exp.—Equip. 150,500 150,500 (c) 183 183 103,683 Totals 4,683 4,683 150,683 150,683 13,333 47,000 137,350 Net Income Fees Income has a credit balance of $47,000 33,667 33,667 47,000 47,000 137,350 137,350 Atef Abuelaish

Step 1: Close Revenue Fees Income Income Summary Balance 47,000
Closing 47,000 Closing 47,000 To record a decrease in a revenue account, debit it and then make a corresponding entry into the Income Summary account. The revenue account, Fees Income, is decreased by $47,000 to zero. The $47,000 is transferred to the temporary owner’s equity account, Income Summary. Fees Income would be debited for $47,000 and Income Summary would be credited for $47,000. Here is our first closing entry represented in T accounts. Please note that after this closing entry, Fees Income has a zero balance. That was the goal of our closing entry to get the account ready for next year with a starting balance of zero. Atef Abuelaish

Step 1: Close Revenue GENERAL JOURNAL PAGE 4
DATE DESCRIPTION POST DEBIT CREDIT REF. Closing Entries Dec Fees Income ,000.00 Income Summary ,000.00 Here is the first closing general journal entry. Notice that the notation “closing entry” was written above the first closing journal entry. The words “Closing Entries” are written in the Description column of the general journal Atef Abuelaish

Step 2: Close Expenses The Income Statement section of the worksheet for Wells’ Consulting Services lists five expense accounts. Since expense accounts have debit balances, enter a credit in each account to reduce its balance to zero. This closing entry transfers total expenses to the Income Summary account. Step 2 is to close all of the expense accounts. Since expense accounts have a debit balance, we need to credit them to close their balances to zero. Atef Abuelaish

Step 2: Close Expenses The five expense account balances are reduced to zero. The total, $13,333 of expenses are transferred to the temporary owner’s equity account, Income Summary. When closing the expense accounts, we will transfer their balances to the Income Summary account. Atef Abuelaish

Income Summary Salaries Expense Bal 47,000 Balance 8,000
Closing ,333 Closing 8,000 Utilities Expense Supplies Expense Balance Balance Closing 650 Closing 500 Since the expense accounts have a debit balance, we need to credit them to close them to zero. A corresponding debit will be made to the Income Summary account. The Income Summary account will be debited for the total of all the credits made to the expense accounts. Each expense account will be credited to bring their balance down to zero. Here is what the T accounts look like. Each expense account was closed to zero and a corresponding debit was made to the Income Summary account for $13,333. Rent Expense Depr. Expense – Equip. Balance 4,000 Balance Closing 4,000 Closing 183 Atef Abuelaish

Step 2: Close Expenses GENERAL JOURNAL PAGE 4
DATE DESCRIPTION POST DEBIT CREDIT REF. Closing Entries Dec Income Summary ,333.00 Salaries Expense ,000.00 Utilities Expense Supplies Expense Rent Expense ,000.00 Depreciation Exp.-Equip Here is the second closing journal entry. Notice that Income Summary is listed first because it is the only debited account. Atef Abuelaish

The Income Summary account reflects all entries in the Income Statement section of the worksheet.
Cr. Balance 33,667 Closing 47,000 Dr. Closing 13,333 After making the first two closing entries, Income Summary has a balance of $33,667. This is the difference between the revenues and the expenses, or net income. This amount will be transferred to the capital account of the owner. Net Income Atef Abuelaish

Step 3: Close Net Income to Capital
The journal entry to transfer net income to owner’s equity is a debit to Income Summary, and a credit to Carolyn Wells, Capital. The Income Summary account is reduced to zero. The net income amount, $33,667, is transferred to the owner’s capital account. Carolyn Wells, Capital is increased by $33,667. Our third closing entry transfers net income to Carolyn Wells, Capital. Atef Abuelaish

Income Summary Carolyn Wells, Capital Balance 33,667 Balance 100,000 Closing 33,667 Closing 33,667 Income Summary has a credit balance of $33,667 at this point, so to close it we would debit it for this amount and make a corresponding credit to the Owner’s capital account for the same amount. Here is an illustration of what the third closing entry would look like in the T accounts. Atef Abuelaish

GENERAL JOURNAL PAGE 4 DATE DESCRIPTION POST DEBIT CREDIT REF. Closing Entries Dec. 31 Income Summary ,667.00 Carolyn Wells, Capital ,667.00 Here is the third closing journal entry. Atef Abuelaish

Step 4: Close Drawing to Capital
Withdrawals appear in the statement of owner’s equity as a deduction from capital. The drawing account is closed directly to the capital account. The drawing account balance is reduced to zero. The balance of the drawing account, $5,000, is transferred to the owner’s capital account. Our final step is to close the owner’s drawing account. Step 4—The owner’s drawing account has a debit balance and is closed directly to the owner’s capital account. In this step, we are reducing the drawing account balance of $5,000 to zero. Atef Abuelaish

Carolyn Wells, Capital Carolyn Wells, Drawing Balance 133,667 Balance 5,000 Closing 5,000 Closing 5,000 We need to debit Carolyn Wells, Capital for $5,000 and credit Carolyn Wells, Drawing for $5,000 to close it to zero. After making the credit to the Drawing account, its balance is zero and the capital account has been reduced by the withdrawals made during the period. This was another goal of the closing process; to update the owner’s capital account. Atef Abuelaish

GENERAL JOURNAL PAGE DATE DESCRIPTION POST DEBIT CREDIT REF. Closing Entries Dec. 31 Carolyn Wells, Capital ,000.00 Carolyn Wells, Drawing ,000.00 The last closing journal entry is shown here. Atef Abuelaish

The new balance of the Carolyn Wells, Capital account agrees with the amount listed on the balance sheet. Carolyn Wells, Drawing Carolyn Wells, Capital Dr. Balance 5,000 Balance Cr. Balance 100,000 Net Inc ,667 Balance 128,667 Closing 5,000 Cr. Dr. Drawing 5,000 Carolyn Wells, Capital will show a balance of $128,667 on the Balance Sheet. Carolyn Wells, Capital Atef Abuelaish

Summary of Closing Entries
STEPS GENERAL JOURNAL PAGE POST. DATE DESCRIPTION REF DEBIT CREDIT Closing Entries 1. Close Revenue Account Dec Fees Income ,000.00 Income Summary ,000.00 2. Close Expense Accounts Income Summary ,333.00 Salaries Expense ,000.00 Utilities Expense Supplies Expense Rent Expense ,000.00 Depr. Expense-Equip Here are all four of the closing journal entries: Step 1—close the revenue accounts Step 2—close the expense accounts Step 3—close the Income Summary account Step 4—close the Drawing account 3. Close Income Summary Income Summary ,667.00 Carolyn Wells, Capital ,667.00 4. Close Drawing Account Carolyn Wells, Capital ,000.00 Carolyn Wells, Draw ,000.00 Atef Abuelaish

Posting the Closing Entries
All journal entries are posted to the general ledger accounts. “Closing” is entered in the Description column of the ledger accounts. The ending balances of the drawing, revenue, and expense accounts are zero. Now all of the closing journal entries need to be posted to the general ledger. When posting the closing entries, make sure you write “closing” in the description column of the general ledger. Atef Abuelaish

GENERAL JOURNAL PAGE 4 POST. DATE DESCRIPTION REF. DEBIT CREDIT STEPS
Closing Entries Dec Fees Income ,000.00 Income Summary ,000.00 STEPS 1. CLOSE REVENUE ACCOUNT Fees Income ACCOUNT NO POST BALANCE DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT 2016 Dec J , ,000.00 Dec J , ,000.00 Dec Closing J , – 0 – Here is the Fees Income account in the general ledger. Notice that after posting the closing journal entry of a $47,000 debit, it now has an end of period balance of zero. Atef Abuelaish

GENERAL JOURNAL PAGE 4 POST. DATE DESCRIPTION REF. DEBIT CREDIT STEPS
Closing Entries 1. CLOSE REVENUE Dec Fees Income ,000.00 Income Summary ,000.00 ACCOUNT Income Summary ACCOUNT NO POST BALANCE DATE DESCRIPTION REF DEBIT CREDIT DEBIT CREDIT 2016 Dec Closing J , ,000.00 After posting to the Fees Income account in the general ledger, we post to the Income Summary. The remaining three closing entries are posted in a similar fashion. Atef Abuelaish

Closing Entries and the Postclosing Trial Balance
Chapter 6 Closing Entries and the Postclosing Trial Balance Section 2: Using Accounting Information 6-2. Prepare a postclosing trial balance. 6-3. Interpret financial statements. 6-4. Review the steps in the accounting cycle. In the second objective of this chapter, we will learn how to prepare a postclosing trial balance for a business. Atef Abuelaish

Step 3 Post the data about transactions Step 1 Analyze transactions Step 4 Prepare a worksheet Step 5 Prepare financial statements We need to prepare another trial balance called the post-closing trial balance. Step 8 is to prepare a postclosing trial balance and Step 9 is to interpret the financial information. Step 9 Interpret the financial information Step 9 Interpret the financial information Step Journalize and post adjusting entries Step 7 Journalize and post closing entries Step 8 Prepare a postclosing trial balance Step 8 Prepare a postclosing trial balance Atef Abuelaish

Prepare a postclosing Trial Balance.
QUESTION: What is the postclosing trial balance? A postclosing trial balance is a report that is prepared to prove the equality of total debits and credits after the closing process is completed. It verifies that revenue, expense, and drawing accounts have zero balances. ANSWER: The postclosing trial balance is prepared after the closing process. It contains only the permanent accounts which were not closed at the end of the period. It proves that debits still equal credits and that all temporary accounts were closed to zero. When we interpret financial information, we are evaluating the financial information presented, and communicating this information to various stakeholders, both inside and outside of the business. Atef Abuelaish

ACCOUNT NAME DEBIT CREDIT
Wells’ Consulting Services Postclosing Trial Balance December 31, 2016 ACCOUNT NAME DEBIT CREDIT Cash ,350.00 Accounts Receivable ,000.00 Supplies ,000.00 Prepaid Rent ,000.00 Equipment ,000.00 Accumulated Depreciation–Equipment Accounts Payable ,500.00 Carolyn Wells, Capital ,667.00 Totals , ,350.00 Only permanent accounts appear on the postclosing trial balance. This would include all asset and liability accounts, as well as capital. Notice that debits equal credits on the post closing trial balance. Atef Abuelaish

Finding and Correcting Errors
If the postclosing trial balance does not balance, the accounting records contain errors. Use the audit trail to trace data through the accounting records. We can use the audit trail to help us locate errors. Oftentimes this requires that we backtrack trough the process to find where we may have added or subtracted incorrectly, posted incorrectly, or journalized incorrectly. Atef Abuelaish

Interpret financial statements. Objective 6-3
What do users do with the finished financial statements? In objective three we learned how users value the information provided in financial statements. To interpret means to understand and explain the meaning and importance of something. Financial statements help users make all kinds of decisions. Financial statements provide important answers to questions such as: What is the cash balance? How much do customers owe the business? How much does the business owe suppliers? What is the profit or loss? Atef Abuelaish

Wells’ Consulting Services Partial Balance Sheet December 31, 2016
Assets Cash $ 111,350.00 Accounts Receivable ,000.00 Supplies ,000.00 Prepaid Rent ,000.00 Equipment $ 11,000.00 Less Accumulated Depreciation ,817.00 Total Assets $ 132,167.00 From looking at a balance sheet you can see that the Cash account has a balance of $111,350. Let’s look at Accounts Receivable on the balance sheet. You can see that our customers owe us $5,000. What is the cash balance? How much do the customers owe the business? Atef Abuelaish

Wells’ Consulting Services Balance Sheet December 31, 2016
Assets Cash $ 111,350.00 Accounts Receivable ,000.00 Supplies ,000.00 Prepaid Rent ,000.00 Equipment $ 11,000.00 Less Accumulated Depreciation ,817.00 Total Assets $ 132,167.00 Liabilities and Owner’s Equity Liabilities Accounts Payable $ 3,500.00 Owner’s Equity Carolyn Wells, Capital ,667.00 Total Liabilities and Owner’s Equity $132,167.00 You can also see what the company owes to its vendors. The business owes $3,500 to creditors. How much does the business owe its suppliers? Atef Abuelaish

Wells’ Consulting Services Income Statement
Month Ended December 31, 2016 Revenue Fees Income ,000.00 Expenses Salaries Expense ,000.00 Utilities Expense Supplies Expense Rent Expense ,000.00 Depr. Expense--Equipment Total Expenses ,333.00 Net Income ,667.00 Did the company generate a profit or loss? You can tell by reviewing the income statement that the business had net income of $33,667. What is the profit? Atef Abuelaish

The Accounting Cycle Review the steps in the accounting cycle
Step 2 Journalize the data about transactions Step 3 Post the data about transactions Step 1 Analyze transactions Step 4 Prepare a worksheet Prepare financial statements Income Statement Statement of Owner’s Equity Balance Sheet Step 5 Prepare financial statements Step 5 Prepare financial statements Objective 4 is the last objective in this chapter. In step 5, we use the worksheet to prepare our financial statements. Atef Abuelaish

The Accounting Cycle Step 2 Journalize the data about transactions Step 3 Post the data about transactions Step 1 Analyze transactions Step 4 Prepare a worksheet Transfer net income or net loss to owner’s equity. Reduce the balances of the temporary accounts to zero. Step 5 Prepare financial statements In step 6, we journalize and post adjusting entries. In step 7, we journalize and post our end of period closing entries. Step Journalize and post adjusting entries Step 7 Journalize and post closing entries Step 7 Journalize and post closing entries Atef Abuelaish

The Accounting Cycle Step 1 Analyze transactions
Step 2 Journalize the data about transactions Step 3 Post the data about transactions Step 4 Prepare a worksheet Step 5 Prepare financial statements Step Journalize and post adjusting entries Step 7 Journalize and post closing entries Step 8 Prepare a postclosing trial balance Step 9 Interpret the financial information Step 2 Journalize the data about transactions Step 3 Post the data about transactions Step 1 Analyze transactions Step 4 Prepare a worksheet Step 5 Prepare financial statements In Step 8, we prepare a postclosing trial balance. In step 9, we interpret the financial information. These nine steps comprise an entire accounting cycle. Take a look at each one and see if you can remember what was involved in each step of the cycle. Step 9 Interpret the financial information Step Journalize and post adjusting entries Step 7 Journalize and post closing entries Step 8 Prepare a postclosing trial balance Atef Abuelaish

Flow of Data Through a Simple Accounting System
Source Documents Source Documents General journal General ledger Worksheet Financial statements After studying the accounting cycle of Wells’ Consulting Services, you should have an understanding of how data flows through a simple accounting system for a small business. Review the flow and make certain that you are comfortable with the documents and reports. Atef Abuelaish

Happiness is having all homework up to date
Homework assignment Using Connect – 5 Questions for 50 Points for Chapter 06. Log in Connect web site and do “Connect Orientation” for 10 Points Prepare chapter 7 “Accounting for Sales, Accounts Receivables, and Cash Receipts.” Happiness is having all homework up to date Atef Abuelaish

Thank you and See You Next Week at the Same Time, Take Care
Atef Abuelaish

Welcome Back Atef Abuelaish.

Similar presentations

Presentation on theme: "Welcome Back Atef Abuelaish."— Presentation transcript:

Similar presentations

About project

Feedback

Log in

Auth with social network:

Welcome Back Atef Abuelaish.

Similar presentations

Presentation on theme: "Welcome Back Atef Abuelaish."— Presentation transcript:

Similar presentations

About project

Feedback