Accounting 1 – 5/19/08

Objectives

  • Identify accounting concepts and practices related to the preparation of a balance sheet for a service business organized as a proprietorship.
  • Prepare a balance sheet for a service business organized as a proprietorship

I. Bellwork

 A.  Pg 185 1-2 Q & A

II. 8-2 Balance sheet

A. Read and discuss pages 180-184

  1. Balance sheet
  2. Heading
  3. Assets and liabilities
  4. Owners equity
  5. Owners equity reported

III.  Review –  8-2 PPT

IV. Classwork

A. pg 185 3-4 wb pgs 159-160

B. Pg 187 8-2 wb pgs 163


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