CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 6-1
Creating a Worksheet
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-1
PREPARING THE HEADING OF A WORK SHEET page 153
Name of Company
1Name of Report
2Date of Report
3
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-1
1. Write the general ledger account titles.
2. Write the general ledger debit account balances. Write the general ledger credit account balances.
4. Add both the Trial Balance Debit and Credit columns.
3. Rule a single line across the two Trial Balance columns.
5. Write each column’s total below the single line.
6. Rule double lines across both Trial Balance columns.
PREPARING A TRIAL BALANCE ON A WORK SHEET page 154
1
2
4
35 6
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-1
TERMS REVIEW
fiscal period work sheet trial balance
page 155
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 6-2
Planning Adjusting Entries on a Work Sheet
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
SUPPLIES ADJUSTMENT ON A WORK SHEET
1
2
page 158
3
1. Write the debit amount.2. Write the credit amount.3. Label the two parts of this adjustment.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
PREPAID INSURANCE ADJUSTMENT ON A WORK SHEET page 159
1
23
1. Write the debit amount.2. Write the credit amount.3. Label the two parts of this adjustment.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
PROVING THE ADJUSTMENTS COLUMNS OF A WORK SHEET page 160
3. Rule double lines.
2. Add both the Adjustments Debit and Credit columns. Write each column’s total.
1. Rule a single line.
1
3
2
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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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.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
1
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
(b) 10000
4
(b) 10000(a) 71500
(a) 71500
3
4964001000015000
11000
10000102500120000
200005000
50000062500
35650021300
280030000
881500 881500 81500 81500 146600 356500 734900 525000
356500 734900
49640010000150001000031000
11000020000
5000500000
62500
6
11000
21300
280030000
356500
10000
71500
7
209900 209900Net Income 89
12
5
356500 734900
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-2
TERM REVIEW
adjustments
page 161
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 6-3
Extending Financial Statement Information on a Work Sheet
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
EXTENDING BALANCE SHEET ACCOUNT BALANCES ON A WORK SHEET page 162
1. Debit balances without adjustments2. Debit balances with adjustments3. Credit balances without adjustments
3
2
1
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
EXTENDING INCOME STATEMENT ACCOUNT BALANCES ON A WORK SHEET page 163
1. Sales balance2. Expense balances without adjustments3. Expense balances with adjustments
1
3
2
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
1. Single rule2. Totals3. Net income
RECORDING NET INCOME, AND TOTALING AND RULING A WORK SHEET
4. Extend net income 6. Totals
6 73 5
214
5. Single rule 7. Double rule
page 164
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
CALCULATING AND RECORDING A NET LOSS ON A WORK SHEET page 165
2. Totals3. Net loss4. Extend net loss
1. Single rule 2
1
3
4
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-3
TERMS REVIEW
balance sheet income statement net income net loss
page 166
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 6-4
Finding and Correcting Errors on the Work Sheet
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-4
CORRECTING AN ERROR IN POSTING TO THE WRONG ACCOUNT page 168
1. Draw a line through the entire incorrect entry. Recalculate the account balance and correct the work sheet.
2 Correct entry
1 Incorrect entry
2. Record the posting in the correct account. Recalculate the account balance, and correct the work sheet.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-4
CORRECTING AN INCORRECT AMOUNT
12
3
page 169
1. Draw a line through the incorrect amount.2. Write the correct amount just above the correction in the same space.3. Recalculate the account balance, and correct the account balance on
the work sheet.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
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LESSON 6-4
12
3
CORRECTING AN AMOUNT POSTED TO THE WRONG COLUMN
5 4 6
page 169
6. Recalculate the account balance, and correct the work sheet.5. Record the posting in the correct amount column.4. Draw a line through the incorrect item in the account.
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