Transcript Ch. 8 Section 1

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?
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.
Section 1 Preparing the Work Sheet (cont'd.)
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
Section 1 Preparing the Work Sheet (cont'd.)
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.
Section 1 Preparing the Work Sheet (cont'd.)
The Work Sheet Heading
(1) The name of the business (Who?)
(2) The name of the accounting form
(3) The period covered by the
work sheet
(What?)
(When?)
Section 1 Preparing the Work Sheet (cont'd.)
The Account Name and Trial
Balance Sections
Section 1 Preparing the Work Sheet (cont'd.)
Ruling and Totaling the Trial
Balance Section
 Total debits must equal total credits.
Section 1 Preparing the Work Sheet (cont'd.)
Check Your Understanding
What is the purpose of the
work sheet?