Day 56

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

1. 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

1. Make a copy of this spreadsheet.
2. Place this file in your Chapter 8 folder.
3. Rename the file to Lesson 8-3-(Your Initials)
4. Complete the spreadsheet according to the directions on page 219 or below.

On Your Own 8-3

1. Use the work sheet given in your Working Papers. Work these problems independently as instructed on page 219 or below.

Self-Assessment 8-3

1. Complete this self-assessment for Lesson 8-3.  You can use your textbook and notes to complete this assessment.

Application Problem 8-3

1. 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.