Day 130

After studying Chapter 14, you will be able to:

• Define accounting terms related to distributing dividends and preparing a work sheet for a merchandising business.
• Identify accounting concepts and practices related to distributing dividends and preparing a work sheet for a merchandising business.
• Journalize the declaration and payment of a dividend.
• Begin a work sheet for a merchandising business.
• Plan work sheet adjustments for merchandise inventory, supplies, prepaid expenses, uncollectible accounts, and depreciation.
• Calculate federal income tax and plan the work sheet adjustment for federal income tax.
• Complete a work sheet for a merchandising business.

Lesson 14-1 Notes

1. Obtain a copy of the notes handout.
2. Read Lesson 14-1 on pages 404-408.
3. As you read, utilize this presentation to help you fill in the missing parts on the handout.

Chapter 14 Folder

1. Inside of your Part 2 folder, create a new folder titled Chapter 14.  All your tasks completed in Chapter 14 should be stored in this folder.

Working Together 14-1

1. Make a copy of this spreadsheet.
2. Place this file in your Chapter 14 folder.
3. Rename the file to Lesson 14-1 (Your Initials)
4. Complete the spreadsheet according to the directions on page 408 or below.

On Your Own 14-1

1. Using your Lesson 14-1 spreadsheet, use the OYO worksheets at the bottom left, and complete the problem as directed on page 408 or below.

Self-Assessment 14-1

1. Complete this self-assessment for Lesson 14-1.  You can use your textbook and notes to complete this assessment.  

Application Problem 14-1

1. Using your Lesson 14-1 spreadsheet, use the AP worksheets at the bottom left, and complete the problem as directed on page 438 or below.