'Income summary' diaporamas de présentation

Chapter 4

Chapter 4 Accounting for Branches and Combined Financial Statements Objectives of this Chapter To learn the accounting and reporting for segments (i.e., branches and division) of a business entity. Branches and Divisions

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CHAPTER TWENTY-THREE

CHAPTER TWENTY-THREE. CORPORATIONS: EARNINGS AND DISTRIBUTIONS. RETAINED EARNINGS. RETAINED EARNINGS. Very few transactions affect the Retained Earnings account. RETAINED EARNINGS. RETAINED EARNINGS. NET INCOME. Usually the only credit is the Net Income. RETAINED EARNINGS.

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Completing the Accounting Cycle

Completing the Accounting Cycle. Chapter 4. Objective 1. Prepare an accounting work sheet. The Accounting Cycle. Process by which accountants prepare financial statements for an entity for a specific period of time. Accounting Cycle. Objective 2. Use the work sheet.

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Completing the Accounting Cycle

Completing the Accounting Cycle. Chapter 4. The Accounting Cycle. Process used to produce financial statements A worksheet summarizes needed data Cycle begins with Assets = Liabilities + Equity and revenues and expenses set equal zero Accounting occurs: During the period

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Do Now

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Hosted by Ms. Appel

Hosted by Ms. Appel. Final. True/False 1. True/False 2. Fill In The Blank 1. Make the Adjustment. 100. 100. 100. 100. 200. 200. 200. 200. 300. 300. 300. 300. 400. 400. 400. 400. 500. 500. 500. 500. Row 1, Col 1. What is True?. A work sheet is used to

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Accounting Records and Systems

Accounting Records and Systems. 4. Part One: Financial Accounting. The McGraw-Hill Companies, Inc., 1999. The Account. Slide 4-1. Cash. (decrease) 750 7,200 4,800 3,000 15,750. (increase) Beginning balance -0- 5,000 4,000 200 12,000

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LESSON 16-1

LESSON 16-1. Recording Adjusting Entries. 2. 1. 4. 6. 5. 7. ADJUSTING ENTRIES RECORDED FROM A WORK SHEET. page 480. 1. Heading. 2. Date. 3. 3. Identify the first adjustment. 4. Account debited. 5. Debit. 6. Account credited. 7. Credit. 8. Continue down the Adjustments columns.

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The Work Sheet

Chapter 8. $. The Work Sheet. $. $. $. The Sixth Step of the Accounting Cycle: The Work Sheet. The worksheet is used to: Collect information from the general ledger accounts into one place. Prepare the end-of-period formal financial statements Prepared:

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Trial Balance

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Chapter 10

Chapter 10. Completing the Accounting Cycle for a Sole Propiertorship. Chapter 10 Objectives. Explain why it is necessary to update accounts through closing entries Explain the purpose of the Income Summary account Explain the relationship between the IS account and the capital account

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ADJUSTING ENTRIES RECORDED FROM A WORK SHEET

2. 1. 4. 6. 5. 7. ADJUSTING ENTRIES RECORDED FROM A WORK SHEET. page 481. 1. Heading. 2. Date. 3. 3. Identify the first adjustment. 4. Account debited. 5. Debit. 6. Account credited. 7. Credit. 8. Continue down the Adjustments columns.

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Exam 1 - Review

Exam 1 - Review. Chapter 1-4. Getting Started in Business. Nature of Business Activities Financing Borrow Note Payable Account Payable Bond Payable Issue Common Stock Investing Purchase Assets: inventory, equipment, land, building Operating Sell your product Revenue and expenses.

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Chapter 3

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College Accounting, by Heintz and Parry

College Accounting, by Heintz and Parry. Chapter 6: Financial Statements and the Closing Process.

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Completion of the Accounting Cycle

Completion of the Accounting Cycle. Accounting Cycle During Period. Collect transaction data from business documents Analyze transactions and journalize Post to ledgers. Accounting Cycle End of Period. Prepare unadjusted trial balance Prepare worksheet Prepare financial statements

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Brook Forest CA 2012 Annual Meeting

Brook Forest CA 2012 Annual Meeting. Dave Hollman Treasurer. TOTAL INCOME VS TOTAL EXPENDITURES. INCOME SUMMARY. OPERATING EXPENSE SUMMARY. OPERATING EXPENSE - TOP 8 AREAS. Yearly Operating Expenses. OPERATING EXPENSE - TOP CONTRACTORS/VENDORS. CAPITAL EXPENSE SUMMARY.

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LESSON 15-2 Adjusting Merchandise Inventory and Interest Receivable

Learning Objectives. LESSON 15-2 Adjusting Merchandise Inventory and Interest Receivable. LO 3 Adjust merchandise inventory. LO 4 Adjust interest receivable. Lesson 15-2. Recording an Adjusting Entry for Merchandise Inventory. LO3.

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LESSON 16-2

LESSON 16-2. Recording Closing Entries for Income Statement Accounts. THE INCOME SUMMARY ACCOUNT. page 487. 3. 3. CLOSING ENTRY FOR ACCOUNTS WITH CREDIT BALANCES. page 488. 1. 2. 4. 1. Heading. 3. Debits to close. 2. Date. 4. Credit to Income Summary. 3. 3.

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Core PFRP for Transition

Module 1.1. Core PFRP for Transition. Disclaimer:

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