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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 6-3 Extending Financial Statement Information on a Work Sheet
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 6-3 EXTENDING BALANCE SHEET ACCOUNT BALANCES ON A WORK SHEET page 162 1.Debit balances without adjustments 2.Debit balances with adjustments 3.Credit balances without adjustments 3 2 1
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON 6-3 EXTENDING INCOME STATEMENT ACCOUNT BALANCES ON A WORK SHEET page 163 1.Sales balance 2.Expense balances without adjustments 3.Expense balances with adjustments 1 3 2
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON 6-3 1.Single rule 2.Totals 3.Net income RECORDING NET INCOME, AND TOTALING AND RULING A WORK SHEET 4.Extend net income6.Totals 6 7 3 5 2 1 4 5.Single rule7.Double rule page 164
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 6-3 CALCULATING AND RECORDING A NET LOSS ON A WORK SHEET page 165 2.Totals 3.Net loss 4.Extend net loss 1.Single rule 2 1 3 4
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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.
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 7 LESSON 6-2
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 8 LESSON 6-2 1
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 9 LESSON 6-2 (b) 10000 4 (a) 71500 3 496400 10000 15000 11000 10000 102500 120000 20000 5000 500000 62500 356500 21300 2800 30000 881500 81500 146600356500734900525000 356500734900 496400 10000 15000 10000 31000 110000 20000 5000 500000 62500 6 11000 21300 2800 30000 356500 10000 71500 7 209900 Net Income 8 9 1 2 5 356500734900
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CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 10 LESSON 6-3 TERMS REVIEW balance sheet income statement net income net loss page 166
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