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 14-5 Notes
- Obtain a copy of the notes handout.
- Read Lesson 14-5 on pages 423-426.
- As you read, utilize this presentation to help you fill in the missing parts on the handout.
Working Together 14-5
- Use the work sheet from Working Together 14-2. Your instructor will guide you through the following example on page 426.
On Your Own 14-5
- Use the work sheet from On Your Own 14-2. Work this problem independently as directed on page 426.
- Complete this self-assessment for Lesson 14-5. You can use your textbook and notes to complete this assessment.
Application Problem 14-5
- Using your Lesson 14-2,14-3,14-4,14-5,14-6 spreadsheet, use the Application Problem worksheet at the bottom left, and complete the problem as directed on page 439 or below.