Chapter 4, Problem 4QS

To determine

Concept Introduction:

• An accounting worksheet is a spreadsheet prepared by accountants to enter accounting information and reports.

• It helps in preparing financial accounts and minimizing errors.

• Steps in preparing a worksheet are enter the unadjusted trial balance, enter adjustments, prepare adjusted trial balance, sort the adjusted balance into income statement and balance sheet items or amounts, total statement columns, find out net income or loss and balance sheet columns.

To Prepare:

Partial worksheet showing adjusting entries, unadjusted trial balance, income statement and balance sheet including the new accounts “Accounts Receivable”, “Wages Payable” and “Rent expense”.