Lesson Plan

Income Statement

Understanding and Creating an Income Statement
Natalie M.
Classroom teacher
Boiling Springs High School
Boiling Springs, SC
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My Grades 12

1 Hook - What does an Income Statement look like?

Activity: Investigating

Students will use Google images to search for pictures of Income Statements

Student Instructions

Students will use Google images to search for pictures of Income Statements.

2 Direct Instruction - What is an Income Statement?

Activity: Investigating

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.

Student Instructions

Use the internet to go to the follwing site, read the article, and take notes.

3 Guided Practice - How to Create an Income Statement

Activity: Creating

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.

Student Instructions

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

Activity: Creating

I will assign the students Problem 9-6 from the book.

Student Instructions

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

Activity: Assessing

Students will partner with another student to check his/her work for mistakes and corrections.

Student Instructions

Partner with a classmate, and look over Problem 9-6 to make sure you have completed everything correctly. Make any changes if needed.