After studying Chapter 6, you will be able to:
- Define accounting terms related to a work sheet for a service business organized as a proprietorship.
- Identify accounting concepts and practices related to a work sheet for a service business organized as a proprietorship.
- Prepare a heading and a trial balance on a work sheet.
- Plan adjustments for supplies and prepaid insurance.
- Complete a work sheet for a service business organized as a proprietorship.
- Identify selected procedures for finding and correcting errors in accounting records.
Chapter 6 Folder
- Inside of your Part 1 folder, create a new folder titled Chapter 6. All your tasks completed in Chapter 6 should be stored in this folder.
- Obtain a Notes 6-1 handout from your instructor and record your notes through the presentation. You can also view the presentation here.
Working Together 6-1
- Make a copy of this spreadsheet.
- Place this file in your Chapter 6 folder.
- Rename the file to Lesson 6-1-(Your Initials)
- Complete the spreadsheet according to the directions on page 155 or below.
On Your Own 6-1
- Use the work sheet given in your Working Papers. Work these problems independently as instructed on page 156 or below.
Complete this self-assessment for Lesson 6-1. You can use your textbook and notes to complete this assessment.
Application Problem 6-1
- Using your Lesson 6-1 spreadsheet, click on the Application Problem 6-1 sheet at the bottom left, and complete the problem as directed on page 172 or below.