Professional Documents
Culture Documents
Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Business Transactions and the Accounting Equation Transactions That Affect Assets, Liabilities, and Owners Capital Transactions That Affect Revenue, Expenses, and Withdrawals Recording Transactions in a General Journal Posting Journal Entries to General Ledger Accounts The Six-Column Work Sheet Financial Statements for a Sole Proprietorship
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.1
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
13
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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SECTION 6.2
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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CHAPTER 6
Chapter 6 Review
Problem 1
Describe the general journal entry for the following event. On January 16, 20-- On Time Delivery issued Check 243 to Comfort Space for $4,000 to buy office furniture.
(continued)
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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CHAPTER 6
Chapter 6 Review
Answer 1
First record: The date in the Date Column
20-Jan. 16
(continued)
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Answer 1
Then record: The account debited in the Description column The amount of the debit in the Debit column
4 0 0 0 00
(continued)
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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CHAPTER 6
Chapter 6 Review
Answer 1
Then record: The account credited in the Description column. The account name is indented under the debit account name. The amount of the credit in the Credit Column.
4 0 0 0 00 4 0 0 0 00
(continued)
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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CHAPTER 6
Chapter 6 Review
Answer 1
Finally, in the Description column, record: An explanation. Indent the explanation under the credit account name.
4 0 0 0 00 4 0 0 0 00
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
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CHAPTER 6
Chapter 6 Review
Question 2
Why do businesses separate their accounting records into accounting periods?
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CHAPTER 6
Chapter 6 Review
Answer 2
Businesses use accounting periods to make financial comparisons possible. Comparisons of business performance would be impossible if fiscal periods varied in length.
Glencoe Accounting Unit 2 Chapter 6 Copyright by The McGraw-Hill Companies, Inc. All rights reserved.
32
Resources
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