1. Unit #9 – The Worksheet

2. Where we are: 1.Journalize (Using the General Journal) –Done 2.Post (To Ledger Accounts – which are also known as T- Accounts) – Done 3.Trial Balance (Can enter on the Worksheet) - Done 4.Adjustments (On the worksheet) 5.Complete the Worksheet - Now 6.Financial Statements (Income Statement - then the Balance Sheet - Done) 7.Closing Entries (Closing the Temporary Accounts – Drawings, Revenue, Expenses)

3. Unit #9 – The Worksheet  What is the “Worksheet”? The Worksheet is a large sheet of accounting paper used to organize data in the preparation of financial statements On the Worksheet you will see:  The Account Numbers (from the Chart of Accounts)  The Trial Balance  The Income Statement  The Balance Sheet  And any Adjustments

4. Unit #9 – The Worksheet  Step 1 Write the Heading  Step 2 Record the Trial Balance  Step 3 Transfer Balance Sheet Items  Step 4 Transfer Income Statement Items

5. Unit #9 – The Worksheet  Step 5 Complete the Income Statement section (Write the difference between Revenue & Expenses – NI (Debit)/NL (Credit)  Step 6 Complete the Balance Sheet section (Transfer the NI to the OE section of the Balance Sheet)  Step 7 Rule the Worksheet (double lines below the totals to indicate completion)

6. Unit #9 – The Worksheet Accounts Acc. No. Trial BalanceAdjustmentsIncome StatementBalance Sheet DRCRDRCRDRCRDRCR 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8