1. Extending Financial Statement Information on a Work Sheet
LESSON 6-3
Extending Financial Statement Information on a Work Sheet

2. LESSON 6-3

3. INCOME STATEMENT shows the revenue and expenses for a fiscal period
TERMS REVIEW
page 166
BALANCE SHEET
a financial statement that reports assets, liabilities and owner’s liability
INCOME STATEMENT shows the revenue and expenses for a fiscal period
NET INCOME the difference between total revenue and total expenses when total REVENUE is greater
NET LOSS the difference between total revenue and total expenses when total EXPENSES is greater
LESSON 6-3

4. EXTENDING BALANCE SHEET ACCOUNT BALANCES ON A WORK SHEET
LESSON 6-3
4/22/2019
EXTENDING BALANCE SHEET ACCOUNT BALANCES ON A WORK SHEET
page 162 2 1 3
1. Debit balances without adjustments
2. Debit balances with adjustments
3. Credit balances without adjustments
LESSON 6-3

5. EXTENDING INCOME STATEMENT ACCOUNT BALANCES ON A WORK SHEET
page 163 1 2 3
1. Sales balance
2. Expense balances without adjustments
3. Expense balances with adjustments
LESSON 6-3

6. RECORDING NET INCOME, AND TOTALING AND RULING A WORK SHEET
page 164 4 1 2 3 5 6 7
1. Single rule
2. Totals
4. Extend net income
6. Totals
3. Net income
5. Single rule
7. Double rule
LESSON 6-3

7. CALCULATING AND RECORDING A NET LOSS ON A WORK SHEET
page 165 1 2 3 4
1. Single rule
2. Totals
3. Net loss
4. Extend net loss
LESSON 6-3