Chapter 6 Work Sheet for a Service Business
Scope and Sequence
6-1 Creating a Work Sheet
* Consistent Reporting
* Preparing an 8-column work sheet
* Preparing a trial balance
6-2 Planning adjusting Entries on a Work Sheet
* Planning adjustments on a work sheet
* Adjustment for supplies
* Adjustment for insurance
6-3 Extending Financial Statement Information on a Work Sheet
* Completing a work sheet
* Calculating net income on a work sheet
* Calculating net loss on a work sheet
6-4 Finding and Correcting Errors on the Work Sheet
* Finding and correcting errors
Objectives
Define accounting terms related to a work sheet for a service business organized as a proprietorship
Identify accounting concepts and practices related to a work sheet for aservice business oraganized as proprietorship
Prepare a heading and trial balance on a work sheet
Plan adjustment for supplies and prepaid insurance
Complete a work sheet for a service business organized as proprietorship
Identify selected procedure for finding and correcting errors in accounting records
Key Terms
Fiscal Period
Work Sheet
Trial Balance
Adjustments
Balance Sheet
Income Statment
Net Income
Net Loss
Accounting Concepts
Consistent Reporting
Accounting Period Cycle
Matching Expenses with Revenue