TRANSFERRING GENERAL LEDGER ACCOUNT BALANCES TO A WORK SHEET Lesson 15-1 (GJ) TRANSFERRING GENERAL LEDGER ACCOUNT BALANCES TO A WORK SHEET RECORDING A TRIAL BALANCE ON A WORK SHEET 1 2 1. Write the titles of the general ledger accounts. 2. Write the balance of each account. 3. Total, prove, and rule the debit and credit columns. 3 Lesson 15-1, page 374-375

PLANNING ADJUSTMENTS ON A WORK SHEET Merchandise Inventory Debit Credit Merchandise Inventory Jan. 1 Bal. 270,480.00 Lesson 15-1, page 376

ANALYZING A MERCHANDISE INVENTORY ADJUSTMENT Lesson 15-1 (GJ) ANALYZING A MERCHANDISE INVENTORY ADJUSTMENT AFTER ADJUSTMENT BEFORE ADJUSTMENT Income Summary Adj. (a) 15,840.00 Merchandise Inventory Jan 1 Bal. 270,480.00 Jan 1 Bal. 270,480.00 Adj. (a) 15,840.00 (New Bal. 254,640.00) Lesson 15-1, page 377

RECORDING A MERCHANDISE INVENTORY ADJUSTMENT 3 2 1 1. Write the debit amount. 2. Write the credit amount. 3. Label the two parts of this adjustment. Lesson 15-1, page 378

Merchandise Inventory ANALYZING AN ADJUSTMENT WHEN ENDING MERCHANDISE INVENTORY IS GREATER THAN BEGINNING MERCHANDISE INVENTORY AFTER ADJUSTMENT BEFORE ADJUSTMENT Merchandise Inventory Jan 1 Bal. 294,700.00 Adj. (a) 4,200.00 (New Bal. 298,900.00) Income Summary Adj. (a) 4,200.00 Lesson 15-1, page 379

TERMS REVIEW inventory merchandise inventory Lesson 15-1, page 379