After studying Chapter 8, you will be able to:
- Define accounting terms related to adjusting and closing entries for a service business organized as a proprietorship.
- Identify accounting concepts and practices related to adjusting and closing entries for a service business organized as a proprietorship.
- Record adjusting entries for a service business organized as a proprietorship.
- Record closing entries for a service business organized as a proprietorship.
- Prepare a post-closing trial balance for a service business organized as a proprietorship.
Notes 8-3
- Obtain a Notes 8-3 handout from your instructor and record your notes through the presentation. You can also view the presentation here.
Working Together 8-3
- Make a copy of this spreadsheet.
- Place this file in your Chapter 8 folder.
- Rename the file to Lesson 8-3-(Your Initials)
- Complete the spreadsheet according to the directions on page 219 or below.
On Your Own 8-3
- Use the work sheet given in your Working Papers. Work these problems independently as instructed on page 219 or below.
Self-Assessment 8-3
- Complete this self-assessment for Lesson 8-3. You can use your textbook and notes to complete this assessment.
Application Problem 8-3
- Using your Lesson 8-3 spreadsheet, click on the Application Problem 8-3 sheet at the bottom left, and complete the problem as directed on page 222 or below.