Accounting – 9/09/19
I. Classwork
- MindTap Working Together 1-2 & On Your Own 1-2
II. Objectives:
- Interpret and record transactions and their impact on the accounting equation
- Compare and contrast the types of transactions that increase and decrease owner’s equity.
- Explain the difference between expenses and liabilities.
- Interpret and analyze financial transactions in order to properly recording them based on GAAP
III. Interested in joining DECA – membership money collected on Friday $25.00
IV. Discussion: 1-3 PPT on iLearn
- Sales – Increase Equity
- Expenses and Withdrawals – Decrease Equity
- Received Cash from Sales
- Sold Services on Account
- Paid Cash for Expense
- Received Cash on Account
- Paid Cash to Owner for Personal Use
V. Classwork
Working Together 1-3 & Own Your Own 1-3
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