CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2 Balance Sheet Information on a Work Sheet.
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Transcript of CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2 Balance Sheet Information on a Work Sheet.
![Page 1: CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2 Balance Sheet Information on a Work Sheet.](https://reader036.fdocuments.us/reader036/viewer/2022082709/56649f445503460f94c64899/html5/thumbnails/1.jpg)
CENTURY 21 ACCOUNTING © Thomson/South-Western
LESSON 7-2LESSON 7-2
Balance Sheet Information on a Work Sheet
![Page 2: CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2 Balance Sheet Information on a Work Sheet.](https://reader036.fdocuments.us/reader036/viewer/2022082709/56649f445503460f94c64899/html5/thumbnails/2.jpg)
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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2
BALANCE SHEETBALANCE SHEET page 187
![Page 3: CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2 Balance Sheet Information on a Work Sheet.](https://reader036.fdocuments.us/reader036/viewer/2022082709/56649f445503460f94c64899/html5/thumbnails/3.jpg)
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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2
HEADING OF A BALANCE SHEETHEADING OF A BALANCE SHEET page 187
11
22
33
1. Center the name of the company on the first line.
2. Center the name of the report on the second line.
3. Center the date of the report on the third line.
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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2
ASSETS AND LIABILITIES ASSETS AND LIABILITIES SECTIONS OF A BALANCE SHEETSECTIONS OF A BALANCE SHEET page 188
44 LiabilitiesLiabilities11 AssetsAssets
Total LiabilitiesTotal Liabilities88
22 Account titles Account titles
33 Asset amountsAsset amounts
Single lineSingle line 77
66Liability amountsLiability amounts
55Account titlesAccount titles
Total of liabilitiesTotal of liabilities 99
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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2
OWNER’S EQUITY SECTION OF A OWNER’S EQUITY SECTION OF A BALANCE SHEETBALANCE SHEET page 189
77 Total Liab. and Owner’s Eq.Total Liab. and Owner’s Eq.
55 Total AssetsTotal Assets
11 Owner’s EquityOwner’s Equity
22 Account title Account title 33Capital amountCapital amount
44 Single lineSingle line
66Total of assetsTotal of assets
88Total of Liabilities and Owner’s EquityTotal of Liabilities and Owner’s Equity
99Compare totalsCompare totals 1010 Double linesDouble lines
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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 7-2
OWNER’S EQUITY REPORTED IN DETAIL OWNER’S EQUITY REPORTED IN DETAIL ON A BALANCE SHEETON A BALANCE SHEET page 190
22Beginning capital amountBeginning capital amount
66DifferenceDifference
88Current capital amountCurrent capital amount
11 Beginning capitalBeginning capital
33 Net IncomeNet Income
44 DrawingDrawing
Ending capitalEnding capital77
99 Total Liabilities and Owner’s EquityTotal Liabilities and Owner’s Equity
55 Single lineSingle line