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Chapter 8.1 The Six-Column Work Sheet The six-column work sheet prepares you for the eight-column work sheet in Chapter 9 Step 1 Step 1: Write in the heading.

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Presentation on theme: "Chapter 8.1 The Six-Column Work Sheet The six-column work sheet prepares you for the eight-column work sheet in Chapter 9 Step 1 Step 1: Write in the heading."— Presentation transcript:

1 Chapter 8.1 The Six-Column Work Sheet The six-column work sheet prepares you for the eight-column work sheet in Chapter 9 Step 1 Step 1: Write in the heading – –Indicate the fiscal period

2 Chapter 8.1 The Six-Column Work Sheet Step 2: Enter, total, and rule the trial balance Step 2

3 Chapter 8.1 The Six-Column Work Sheet Step 3: Copy the balance sheet amounts to the balance sheet columns Step 3

4 Chapter 8.1 The Six-Column Work Sheet Step 4: Copy the income statement amounts to the income stmt. columns Step 4

5 Chapter 8.1 The Six-Column Work Sheet Step 5: Rule and total the last four columns Step 5 Total Revenue Total Expenses Net Income (the balancing figure)

6 Chapter 8.1 The Six-Column Work Sheet Step 6: Record the net income in the outer two of the last four columns Step 6

7 Chapter 8.1 The Six-Column Work Sheet Step 7: Total and rule the work sheet Step 7

8 Chapter 8.1 The Six-Column Work Sheet Net Loss Situation: Assume Wages and Bank Loan were $40,000 higher Net Loss 1 Changes shown in red. Total Expenses are now higher than Total Revenue.

9 Chapter 8.1 The Six-Column Work Sheet The amount of the net loss is placed in the inner two of the last four columns Net Loss 2

10 Chapter 8.1 The Six-Column Work Sheet Rule and total the work sheet for a loss situation Net Loss 3


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