Acctg 10/02/07
I. Bellwork
Construct T accounts for the following transactions:
1. Bought 1,500.00 Supplies on account from Abdul Enterprises
2. Paid $700.00 on account to Abdul Enterprises
Objective:s
- 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 affect owner’s equity accounts.
II. 3-3 How Transactions Affect Owners Equity
A. Read & Discuss Pgs. 51-55
1. Cash received from Sales
2. Sales on Account
3. Cash paid for Expenses
4. Cash received on Account
5. Cash paid to Owner
III. Class work
A. Pg 56 Q & A
B. Pg. 56 #6-#9 wb pg. 39-40
C. Pg. 59 3-3 App wb pg. 45