Financial Statements

In class students learned how to prepare 3 financial statements: The Income Statement, Statement of Changes in Owner's Equity and the Balance Sheet.

Complete 8-6 on paper or using the template below.

Worksheet and Financial Statements Template in Excel

Work Sheet Template

Financial Statements Template

For homework finish 8-6.

Work Sheet

In class students learned how to prepare a six-column worksheet. We completed 8-4 and 8-6 in class. 

The notes are attached below.  8-6 is prepared below.  There is also a worksheet template that can be used to prepare 8-5 and 8-7.

Notes - The Work Sheet


Answer Key - 8-6


Work Sheet Template 

HW - Complete 8-5 and 8-7
        - Read pgs. 223-231

Mini Practice #1 cont.

In class students continued to work on Mini Practice Set #1.  The assignment (a quiz grade) is due by Tuesday 10/28 before class.

Email me the project at tfesko@mph.net  and I will give you a return email with your grade.  This will be the first quiz grade for the 2nd marking period.

HW - Read pgs. 199-202 and 204-209 in textbook

Mini-Project #1

In class we went over problem 7-9 "Finding Errors and Correcting Entries." 

Afterwards, students went to the library to begin Mini-Practice #1 in excel.  We will be working on using formulas for the General Ledger and the Trial Balance.

Mini Practice #1 - Template

We will work on the project during class on Friday (10/24) afternoon and the entire project will be due Mon. 10/27. 

Email me at tfesko@mph.net the project and I will give you a return email with your grade.  This will be the first quiz grade for the 2nd marking period.

Finding Mistakes and Correcting Entries

In class students reviewed how to post General Journal transactions to the General Ledger.  Afterwards, we went over the trial balance and how to fins/correct mistakes when the trial balance does not balance.

The homework is listed below and the notes are attached.

Notes - Correcting Entries

HW - 7-9 in Workbook

Field Trip - Whiman School of Management at SU

The accounting class took a field trip to the Whitman School of Management at Syracuse University.

There is no homework.

General Ledger cont.

In class we continued to analyze transactions and record them in the general journal where upon students posted that information to the General Ledger.  Students were also introduced to creating templates in Microsoft Excel.  There is no homework.

***Remember to bring in the Field Trip Permission Form***

General Ledger (cont.)

In class students took a quiz on Chapters 5 and 6 focusing on recording business transactions in the General Journal.

Afterwards, student worked on posting transactions from the General Journal to the General Ledger.


HW - Complete 7-5/7-7 if you didn't do so already in class.
        - Get Field Trip Permission Form Signed (attached below)

Field Trip Permission Form

The General Ledger

In class we finished up our discussion on the General Journal.  Students should now be highly skilled at analyzing transactions using the T accounts and recording said transactions in the General Journal.

Afterwards, students were introduced to the General Journal.  After recording transactions in the General Journal, the information should be posted to the General Ledger-as each account has its own ledger that keeps a running total of the balance in the account.

The notes are attached below and the homework is to study for Quiz #3 on Chapter 5-6.

Notes - The General Ledger