After studying Chapter 15, you will be able to:
- Define accounting terms related to financial statements for a merchandising business organized as a corporation.
- Identify accounting concepts and practices related to financial statements for a merchandising business organized as a corporation.
- Prepare an income statement for a merchandising business organized as a corporation.
- Analyze an income statement using component percentages and financial ratios.
- Prepare a statement of stockholders’ equity for a merchandising business organized as a corporation.
- Prepare a balance sheet for a merchandising business organized as a corporation.
Lesson 15-1 Notes
- Obtain a copy of the notes handout.
- Read Lesson 15-1 on pages 446-454.
- As you read, utilize this presentation to help you fill in the missing parts on the handout.
Chapter 15 Folder
- Inside of your Part 2 folder, create a new folder titled Chapter 15. All your tasks completed in Chapter 15 should be stored in this folder.
Working Together 15-1
- Make a copy of this spreadsheet.
- Place this file in your Chapter 15 folder.
- Rename the file to Lesson 15-1 (Your Initials)
- Complete the spreadsheet according to the directions on page 454 or below.
On Your Own 15-1
- Using your Lesson 15-1 spreadsheet, use the OYO worksheets at the bottom left, and complete the problem as directed on page 454 or below.
Self-Assessment 15-1
- Complete this self-assessment for Lesson 15-1. You can use your textbook and notes to complete this assessment.
Application Problem 15-1
- Using your Lesson 15-1 spreadsheet, use the AP worksheets at the bottom left, and complete the problem as directed on page 473 or below.