Accounting – 9/15/17

I. Bellwork Q&A

What two specific accounts are impacted when an owner invests cash in his/her business?
What two specific accounts are impacted when supplies are bought on account?

II. Objectives:

Identify accounting concepts and practices related to starting a service business organized as a proprietorship and to changes that affect the accounting equation.
Analyze transaction information to determine how transactions affect accounts in an accounting equation.

III. DECA Overview