Accounting 1 – 2/07/08
Objectives:
- Analyze how transactions related to starting a service business organized as a
proprietorship affect accounts in an accounting equation. - Prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation.
I. Bellwork
A. Questions and Answers
- What is on each line of the 3 Line Heading of a Balance Sheet?
- Explain the Going Concern accounting concept? Page 13
II. NotebookWork
A. PG 16 Explore Accounting
1. What is GAAP?
2. Why is it necessary? Explain
II. Classwork
A. Pg 18 Application Problem 1-3 WB pg 11
B. Pgs 19-20 1-6 Mastery Problem WB pg 17
C. Pg C-1 Recycle Problem WB pg 18
III. Quiz Tomorrow
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