1. © South-Western Educational Publishing 3 3.Total, prove, and rule the debit and credit columns. 1. Write the titles of the general ledger accounts. 2.Write the balance of each account. 1 12 2 TRANSFERRING GENERAL LEDGER ACCOUNT BALANCES TO A WORK SHEET RECORDING A TRIAL BALANCE ON A WORK SHEET Lesson 15-1, page 366-368

2. © South-Western Educational Publishing PLANNING ADJUSTMENTS ON A WORK SHEET Jan. 1 Bal.270,480.00 Merchandise Inventory DebitCredit Merchandise Inventory Lesson 15-1, page 368

3. © South-Western Educational Publishing BEFORE ADJUSTMENTS AFTER ADJUSTMENTS Income Summary Jan 1 Bal.270,480.00 (New Bal.254,640.00) ANALYZING A MERCHANDISE INVENTORY ADJUSTMENT Adj. (a)15,840.00 Merchandise Inventory Adj. (a)15,840.00 Lesson 15-1, page 369

4. © South-Western Educational Publishing RECORDING A MERCHANDISE INVENTORY ADJUSTMENT 1 2 3.Label the two parts of this adjustment. 1. Write the debit amount. 2.Write the credit amount. 3 Lesson 15-1, page 370

5. © South-Western Educational Publishing ANALYZING AN ADJUSTMENT WHEN ENDING MERCHANDISE INVENTORY IS GREATER THAN BEGINNING MERCHANDISE INVENTORY AFTER ADJUSTMENT Income Summary Jan 1 Bal.294,700.00 Adj. (a)4,200.00 Merchandise Inventory Adj. (a)4,200.00 Lesson 15-1, page 370 (New Bal. 298,900.00)

6. © South-Western Educational Publishing T ERMS REVIEW inventory merchandise inventory Lesson 15-1, page 371