1 Hook - What does an Income Statement look like?
Students will use Google images to search for pictures of Income Statements
Students will use Google images to search for pictures of Income Statements.
2 Direct Instruction - What is an Income Statement?
I will ask the students to go to the following site to read about what an income statement is: http://www.accountingcoach.com/income-statement/explanation/1. I will also ask them to take notes on the article.
Use the internet to go to the follwing site, read the article, and take notes.
3 Guided Practice - How to Create an Income Statement
I will provide the students with a list of accounts with balances, and we will dtermine which accounts need to go on the Income Statement. I will then guide them through the process of creating an Income Statement on the proper accounting paper.
Follow along with me as we determine which accounts need to be on the Income Statement. Once we have determined the accoutns needed, we will create teh Income Statement with the accounting paper provided.
4 Independent Practice - Create an Income Statement on your own
I will assign the students Problem 9-6 from the book.
Complete Problem 9-6 (step 2) on pg. 242 in the book.Use the acounting paper provided to complete the Income Statement for Hot Suds Car Wash.
5 Wrap Up - Partner Time
Students will partner with another student to check his/her work for mistakes and corrections.
Partner with a classmate, and look over Problem 9-6 to make sure you have completed everything correctly. Make any changes if needed.