MCCARTER OUTSIDE PROJECT
Worksheet Preparation - students will complete a worksheet using the information from the trial balance. They will calculate the adjustments and extend all dollar amounts to either the Income Statement or Balance Sheet Columns. Essential Questions | |
 How is the worksheet prepared? | |
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| What financial statements are used for a proprietorship and how are they prepared? | |
Skills/Objectives | |
| Record the trial balance on the worksheet. | |
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| Plan and record the adjusting entries on a worksheet. | |
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| Complete a worksheet by extending the income statement and balance sheet information and calculating net income or loss. | |
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| Find and correct errors in a worksheet. | |
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| Prepare an income statement from a worksheet. | |
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| Prepare a balance sheet from a worksheet. | |
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| Calculate the new Owner's Equity with the net income or net loss. | |
National Business Education Standards
