1. Finishing a Worksheet Chapter 6, Section 3

2. Review  What is a worksheet?  What are the 4 reasons for using a worksheet?  What is the first step in completing a worksheet?  What is the next step?

3. Extending Balances according to Financial Statement  Separate accounts to Income Statement and Balance Sheet columns.  Balance Sheet  Assets, Liabilities, Owner’s Equity  Income Statement  Revenue and Expenses

4. Extending Balance Sheet Balances on the Worksheet 1.Debit balances without adjustments 2.Debit balances with adjustments 3.Credit balances without adjustments 3 2 1

5. Extending Income Statement Balances on the Worksheet 1.Sales balance 2.Expense balances without adjustments 3.Expense balances with adjustments 1 3 2

6. Recording Net Income Totaling and Ruling a Work Sheet 1.Single rule 2.Totals (will not be equal) 3.Net income (Income Statement Credit minus Income Statement Debit) 4.Extend net income6.Totals 6 7 3 5 2 1 4 5.Single rule7.Double rule

7. Recording a Net Loss 2.Totals 3.Net loss – Income Statement Debit is larger than Income Statement Credit 4.Extend net loss 1.Single rule 2 1 3 4

8. Assignments  Work Together 6-3 (Textbook pg. 166)  On Your Own 6-3 (Textbook pg. 166)  Application 6-3 (Textbook pg. 173)