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Accounting Bellwork

Chapter 9. $. Accounting Bellwork. 3 rd Hour: How does the When line of the heading of the Income Statement read. $. $. For the Month Ended October 31, 200-. $. Chapter 9. $. Section 2 The Statement of Changes in Owner’s Equity. $. What You’ll Learn

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Accounting Bellwork

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  1. Chapter 9 $ Accounting Bellwork 3rd Hour:How does the When line of the heading of the Income Statement read. $ $ For the Month Ended October 31, 200- $

  2. Chapter 9 $ Section 2 The Statement of Changes in Owner’s Equity $ • What You’ll Learn • The purpose of the statement of changes in owner’s equity. • How to prepare the statement of changes in owner’s equity. $ $

  3. Section 2 The Statement of Changes in Owner’s Equity (con’t.) Chapter 9 $ Why It’s Important One way to evaluate how a business is performing is by tracking the increase or decrease in owner’s equity. $ $ • Key Terms • statement of changes in owner’s equity $

  4. Section 2 The Statement of Changes in Owner’s Equity (con’t.) Chapter 9 $ The Statement of Changes in Owner’s Equity Statement of changes in owner’s equity summarizes changes in the owner’s capital account as a result of business transactions during the period. $ $ $

  5. Section 2 The Statement of Changes in Owner’s Equity (con’t.) Chapter 9 $ The Statement of Changes in Owner’s Equity (con’t.) The information to prepare this statement is found in three places: $ • the work sheet • the income statement • the owner’s capital account in the general ledger $ $

  6. Same as worksheet WHEN Money Started the month with. Money or Items invested by owner From the worksheet or Income Statement From the Worksheet To show a net loss, refer to p213.

  7. Demonstration Problems Ch9 Problem 9-4

  8. Prime Printing Co. Statement of Changes in Owners Equity For the month ended June 30, 200- Beginning Capital, June 1, 200- 8714.21 Add: Investments by Owner 2500.-- Net Income 4146.02 Total Increases in Capital 6646.02 Subtotal 15360.23 Less: Withdrawals by Owner 600.-- Ending Capital, June 30, 2004 14760.23

  9. Section 1 Preparing the Work Sheet (con’t.) Chapter 8 $ Check Your Understanding p214 $ Thinking Critically 1 & 2 Problem 9-2 $ $

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