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.