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Cumulative Test    193 Cumulative Test Solutions    200 Help Table    202       Learning Goal 12:  Explain What a Worksheet Is and  What It Does    204 Overview of Section II    204 Identify a Worksheet    204 What Is a Worksheet?   204 The Qualities of a Worksheet    207 Review and Vocabulary    207 Learning Goal 13:  Prepare a Worksheet    208 The Five Steps    208 Step 1: Prepare the Trial Balance on the Worksheet 208 Step 2: Calculate the Adjustments and Enter Them in the Adjustments Column    209 Step 3: Enter Account Balances in the Adjusted Trial Balance Column    213 Step 4: Extend the Adjusted Trial Balance Amounts into the Financial Statement Columns    220 Step 5: Total the Financial Statement Columns and Compute the Net Income or Net Loss    222 Review    225 Practice   226 Learning Goal 14:  Use the Completed  Worksheet    232 Overview    232 The Three Results of Using a Worksheet   232 Result 1: Financial Statements    232 Result 2: Adjusting Entries    235 Result 3: A Source for the Closing Journal Entries    235 Review    235 Practice    236 Learning Goal 15:  Prepare a Classified  Balance Sheet     240 Concept and Example of Classification    240 Overview: The Concept of Classification    240 The Classified Balance Sheet    241     The Balance Sheet Classifications Explained    242 The Asset Classifications    242 The Liability Classifications    243 Example for Applegate Modeling Agency    244 Review and Vocabulary    246 Practice    247 Learning Goal 16:  Prepare Closing Entries    253 Review of Owner’s Equity    253 The Six Owner’s Equity Accounts    253 The Concept of Closing    256 What Is Closing the Accounts?    256 Use the Accounting Equation to Understand Closing    258 The Closing Procedure 260 Overview of the Four Steps to Close the Accounts    260 Simple T-Account Illustration of the Four Steps    263 Where to Find Account Balances for Closing    266 Journalizing the Closing Entries    267 The Post-Closing Trial Balance    270 How Quickly Must I Do the Closing After Period End?    270 Review and Vocabulary    271 Practice    272 Learning Goal 17:  Describe the Complete Accounting  Cycle    280 The Complete Accounting Cycle    281 Description    281 Illustration—The Accounting Cycle    282 Practice Set 1 Cumulative Problem    283 Cumulative Vocabulary Review    286 Cumulative Test    287 Cumulative Problem Solution    291 Cumulative Test Solutions    310 Help Table    312     Learning Goal 18:  Distinguish Service Operations from  Merchandising Operations    315 Compare Service and Merchandising    315 Service and Merchandising Operations Defined    315

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Worthy & James Publishing is a provider of basic accounting books covering fundamental accounting principles, business accounting, and business math. Topics in financial accounting and business accounting covered include the balance sheet, the income statement, financial ratios, and bank reconciliation.

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