Glencoe Accounting

Chapter 8: The Six-Column Work Sheet

Winning Competitive Events

Concept Capsules

  • The work sheet is completed at the end of a fiscal period.
  • It is used to organize account information for the financial statements.

Practice Questions


  1. The difference between the total of the Income Statement Debit column and the total of the Income Statement Credit column of the work sheet represents either net income or net loss.
  2. Preparation of a work sheet eliminates the need to prepare an income statement and a balance sheet.

Multiple Choice

  1. The heading of the work sheet includes (A) the name of the business, (B) the name of the owner, (C) the last day of the accounting period, (D) A and C.
  2. Balances on the work sheet are extended (A) from the top down, (B) to the debit columns first, (C) from the bottom up, (D) to the Income Statement section first.
  3. Once the two columns in a section of the work sheet are proved, (A) the totals are written in ink, (B) a single rule is drawn under the totals, (C) the totals are transferred to the next section, (D) a double rule is drawn under the totals.


  1. T
  2. F
  3. D
  4. D
  5. D


Review the following Key Terms from Chapter 8 when preparing for the contest.

matching principle

net income

net loss


work sheet

Test-Taking Tips

Regular study and review is the best way to get good test results, but there are other things you can do to prepare for the contest.

  1. Get enough rest the night before the test. Don't try to "cram." If you haven't mastered the material by now, cramming will not help.
  2. Eat a good breakfast.
  3. Try to relax. If you've prepared yourself for the test, be confident in your ability to do well.
  4. Dress in appropriate business attire. Not only will you project a good image of yourself and your school, you will also feel good about yourself and be more confident.
  5. Before the test date, double-check the location for the examination. Allow yourself enough time to get to the event.
  6. Be sure to take along the supplies that you will need: pencils, pen, ruler, and eraser. If handheld calculators are permitted, take one along.
  7. When you arrive at the test location, sit near the front of the room, not in the back.
  8. Listen to the instructions and guidelines from the test moderator.
  9. Read the test directions carefully.
  10. Skim the entire test quickly.
  11. Begin answering the questions.
  12. Mark those questions you cannot answer immediately and go on to other questions.
  13. When you have finished, return to the questions you marked.

Taking True/False Tests

  1. Read the directions carefully so that you will know how to mark your answers.
  2. Read each statement slowly and carefully to yourself. If any part of the statement is not accurate, then the entire statement is false. For the statement to be true, every part must be true.
  3. Look for "clue" words that usually make a statement false. Some of these words are always, all, none, only, and very. Words such as usually and generally are often used with true statements.
  4. Watch for negative statements; these tend to be tricky.
  5. With true/false tests, your first hunch is usually correct.
  6. Do not look for a pattern in the answers; there usually isn't one.

Taking Multiple Choice Tests

  1. Read the directions carefully. Usually only one answer is required; however, sometimes more than one answer may be necessary.
  2. Read the statement and try to complete it before you look at the choices. If your answer is among the choices, mark it.
  3. Eliminate the obviously incorrect answers, and then select what you feel to be the correct answer. Test the answer by adding it to the statement and reading the completed statement to yourself.
  4. If you cannot answer the question, look for words that automatically eliminate certain choices. Eliminate choices that do not fit grammatically with the question. Eliminate choices that seem too vague or general.

Taking Matching Tests

  1. In matching tests, you are asked to match a term in one column with a term or statement in another column. Read through all the possibilities before answering. Look for the most appropriate answer.
  2. Unless otherwise noted, an answer may be used more than once. In addition, there are often more choices than are needed.
  3. Match the items you are sure about first.
  4. Eliminate inappropriate choices. For example, if a question requires an answer that is a noun, you can eliminate all choices that are verbs. Choose your answer from the remaining choices.

Taking Completion Tests

  1. These "fill-in-the-blank" questions require specific answers. Read each question carefully and write the best possible answer.
  2. Check your answer by reading the completed sentence to make sure your response makes sense.

Taking Problem Tests

1.  To prepare for problem tests, do sample problems over and over until you are sure of yourself.

2.  Read through the directions for each problem carefully, to make sure you understand exactly what you are to do.

3.  Allow time to check your work, making sure there are no careless calculation errors. Be sure that you have completed each instruction in the problem. You may want to cross off an instruction as you are done with it.

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