Lesson: 28

Topic: The Six-column Worksheet

Objectives:

By the end of this class, the student should understand the process involved in creating a Six-column Worksheet.

In addition, the student should understand the advantages associated with using the Six-column worksheet to prepare the final Income Statement and related Balance Sheet.

 
J. Smith Consulting Service
Worksheet
For the Month Ended November 30, 2000 
   Account Title Acc. No. Trial Balance Income Statement Balance Sheet   
Debit  Credit Debit Credit Debit Credit 
1 Cash 101        1,600.00           1
2 A/R - Black 105           400.00           2
3 A/R - Seymour 110        1,000.00           3
4 Furniture 115        1,400.00           4
5 Equipment 120        2,800.00           5
6 Building 125     100,000.00           6
7 Bank Loan Payable 201          3,000.00         7
8 A/P - Midland Co. 205             800.00         8
9 A/P - Acme Suppliers 210             500.00         9
10 Mortgage Payable 215        90,000.00         10
11 J. Smith, Capital 301        12,500.00         11
12 J. Smith, Drawings 302           100.00           12
13 Consulting Fees Earned 401          1,800.00         13
14 Hydro Expense 510           200.00           14
15 Rent Expense 515        1,050.00           15
16 Phone Expense 520             50.00                               16
17         108,600.00     108,600.00         17
18                 18
19                 19
20                 20
21                 21
22                 22

Finally, students will examine how we deal with the following situations within the worksheet:

Method of Instruction and Evaluation:

After a Socratic lecture on the above topic, students will complete Exercise 2 (page 261 in the textbook, page #183 in the workbook). Students may also download an electronic 6-Column Worksheet.

Expectations Addressed:

The "Fundamental Accounting Practices" strand of the BAF3M Ministry of Education Curriculum Guidelines outlines all of the following specific expectations. The expectations addressed by this lesson have been highlighted below.

References:

Text, chapter #8; pages 251 - 259.


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