Accounting 10, 20, 30
Course Configurations
Create a worksheet to summarize data in order to generate financial statements.
Indicators for this outcome
| (a) | Prove the ledger by preparing a trial balance in the worksheet which includes listing all account titles and balances from the general ledgers into correct debit and credit columns. |
| (b) | Calculate and record adjustments in the worksheet in accordance with the Generally Accepted Accounting Principle (GAAP) matching principle. |
| (c) | Extend the revenue and expense accounts into the income statement from the trial balance and adjustments column. |
| (d) | Extend the assets, liabilities, capital, and drawing accounts to the balance sheet column from the trial balance and adjustment column. |
| (e) | Total the columns of the income statement and calculate net income/net loss with proving totals. |
| (f) | Analyze the relationship between sales and expenses (i.e., net income or net loss) on the worksheet. |
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