Accounting 1
Lesson Plans

Strand 4

Students will identify and use source documents to journalize transactions, post journal entries to the ledger, and prepare a trial balance.

Standard 4

Define the trial balance and explain how it could be equal but not accurate.

• Accounting - Work Sheet For A Service Business
  Introduction of a work sheet for a proprietorship set up as a service business. Introduction of what a fiscal period is, what a work sheet is, how to prepare the work sheet with a heading, the beginning of the fiscal period, trial balance amounts, planning and recording adjustments to supplies and prepaid insurance and proving the equality of debit and credit columns of a work sheet. Introduction of how to extend the balances on a work sheet, calculate and record the net income or net loss on a work sheet, as well, as total and rule a work sheet. Give ideas on how to locate and fix errors on a work sheet.
• Accounting - Work Sheet for a Merchandising Business
  Introduction of a worksheet for a partnership set up as a merchandising business. Introduction of what a fiscal period is, what a worksheet is, how to prepare the worksheet with a heading, the beginning of the fiscal periods trial balance amounts, plan/record adjustments to supplies, prepaid insurance, merchandise inventory & prove the equality of debit and credit columns of a worksheet. Introduction of how to extend the balance sheet account balances and income statement account balances on a worksheet, calculate and record the net income or net loss on a worksheet, as well, as total and rule a worksheet. Give ideas on how to locate and fix errors on a worksheet.

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