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
- Obtain a copy of the notes handout.
- Read Lesson 14-1 on pages 404-408.
- As you read, utilize this presentation to help you fill in the missing parts on the handout.
Chapter 14 Folder
- 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
- Make a copy of this spreadsheet.
- Place this file in your Chapter 14 folder.
- Rename the file to Lesson 14-1 (Your Initials)
- Complete the spreadsheet according to the directions on page 408 or below.
On Your Own 14-1
- 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
- Complete this self-assessment for Lesson 14-1. You can use your textbook and notes to complete this assessment.
Application Problem 14-1
- 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.