The Six-Column Work Sheet

1. Chapter 8 $ The Six-Column Work Sheet $ Making Accounting Relevant The ability to organize information is an important skill. In your work, you’ll be asked to present ideas and data. $ In your classes, what information have you been asked to organize and present to others? What did you do to prepare for these presentations? $

2. Chapter 8 $ Section 1 Preparing the Work Sheet $ • What You’ll Learn • The purpose of the work sheet. • The kinds of information contained in the heading. • How to prepare a trial balance on a work sheet. • How to rule a section of the work sheet. $ $

3. Section 1 Preparing the Work Sheet (cont'd.) Chapter 8 $ Why It’s Important The work sheet is a tool the accountant uses to collect all the information needed for the end-of-period activities. $ $ • Key Terms • work sheet • ruling $

4. Section 1 Preparing the Work Sheet (cont'd.) Chapter 8 $ The Sixth Step of the Accounting Cycle: The Work Sheet A work sheet is used to collect information from the ledger accounts in one place. $ $ $

5. Section 1 Preparing the Work Sheet (cont'd.) Chapter 8 $ The Work Sheet Heading $ (1) The name of the business (Who?) (2)The name of the account-ing form $ (What?) $ (3) The period covered by the work sheet (When?)

6. Section 1 Preparing the Work Sheet (cont'd.) Chapter 8 $ The Account Name and Trial Balance Sections $ $ $

7. Section 1 Preparing the Work Sheet (cont'd.) Chapter 8 $ Ruling and Totaling the Trial Balance Section • Total debits must equal total credits. $ $ $

8. Section 1 Preparing the Work Sheet (cont'd.) Chapter 8 $ Check Your Understanding $ What is the purpose of the work sheet? $ $