1.Why is the six-column work sheet an important accounting tool? A tool is used as an aid in accomplishing a specific task. How can a work sheet be a tool? What other tools do accountants use?

2.Content Vocabulary Create multiple-choice test questions for each content vocabulary term. work sheet (p. 199) matching principle (p. 206) net loss (p. 209)

ruling (p. 202) net income (p. 206)

3. Academic Vocabulary Copy the following sentences, substituting the underlined word or phrase with an academic vocabulary word: period (p. 199) imply (p. 199) compute (p. 204) accurate (p. 208) He used a variety of instruments to calculate the deductions he could claim on his income tax form.

The month before April 15 is a very busy segment of time for income tax preparers.

It is very important to check your tax form carefully to assure that it is free of errors.

Submitting a tax return with no signature might give the indirect message that you didnt check it.

4. What is the purpose of the work sheet? Why is it an important tool for completing the accounting cycle?

5. Illustrate and briefly describe the five sections of a six-column work sheet.

6.List the items that are included in the work sheet heading.

7.What might possibly be the result of not listing all accounts, including those with zero balances, on the work sheet?

8. Explain how to record net income or net loss on the work sheet.

9.How does net income affect owners equity? How does net loss affect owners equity?