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1-8 Review
In Chapter 8
You learned:
More..
How do you title one of the four statements
Line 1
Line 2
Line 3
Conventions
What are adjusting journal entries?
Examples?
Chapters 5-8
What is
Average cost, FIFO, LIFO
Adjusting Entries
Illustration 4-2
Year 1
Year 2
Activity
Purchased paint, painted building ,
paid employees
Accrual
basis
Cash
basis
Revenue
Expense
Net Income
$80,000
50,000
$30,000
Revenue
Expense
Net Income
Revenue
Expense
Net Loss
$
0
50,000
( $50,000)
Revenue
Expense
Net Income
$80,000
0
$80,000
0
0
0
Still confused?
Do we need another way to learn this
concept?
Opener - Thursday
Sit in your NEW TEAMS, delegate a note taker
Email, phone #, cell phone #, NAME
Assign homework chapter 8 & 9 (list by name)
Give transparency to these people
Send me and your teammates an email BEFORE
Tuesday with above info.
Mini quiz
Write out expanded Accounting Equation
List examples of accounts below (up to five
accounts)
Turn paper over when done
Turn in by team
Housekeeping
Contract questions
Outline, course schedule by day
Begin ch 9
extra credit -January 18, 2.30-4.30 Library Media
Center UW Seattle Admissions officer Michael
Richter