Day 140

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 15-2 Notes

1. Obtain a copy of the notes handout.
2. Read Lesson 15-2 on pages 455-460.
3. As you read, utilize this presentation to help you fill in the missing parts on the handout.

Working Together 15-2

1. Make a copy of this spreadsheet.
2. Place this file in your Chapter 15 folder.
3. Rename the file to Lesson 15-2 (Your Initials)
4. Complete the spreadsheet according to the directions on page 460 or below.

On Your Own 15-2

1. Using your Lesson 15-2 spreadsheet, use the OYO worksheets at the bottom left, and complete the problem as directed on page 460 or below.

Self-Assessment 15-2

1. Complete this self-assessment for Lesson 15-2.  You can use your textbook and notes to complete this assessment. 

Application Problem 15-2

1. Using your Lesson 15-2 spreadsheet, use the AP worksheets at the bottom left, and complete the problem as directed on page 473 or below.