Accounting 10/01/07
I. Bellwork
Use a T-account to demonstrate the debit, credit, normal balance, increase and decrease sides for an asset and also do the same for a liability.
Objectives:
- Define accounting terms related to analyzing transactions into debit and credit parts.·
- Identify accounting practices related to analyzing transactions into debit and credit parts.·
- Use T accounts to analyze transactions showing which accounts are debited or credited for each transaction.·
- Analyze how transactions to set up a business affect accounts.
II. 3-2 How Transactions Affect Accounts
A. Read + Discuss Pgs. 45-49
1. Questions for Analyzing Transactions
2. Transactions & T-Accounts
III. Class work Pg 50
A. Term + 1-2 Q & A
B. Pg. 50 #3-6 wb pgs. 37-38
C. Pg. 58 Application 3-2 wb pg.43