Accounting – 9/11/19
I. Bellwork
A. Provide examples of 2 transactions that increase owner’s equity?
B. Provide examples of two transactions that decrease owner’s equity
II. Objectives
- Analyze how transactions affect accounts in an accounting equation.
- Compare and contrast accounts payable and accounts receivable
- Analyze and interpret financial transactions in order to properly record them based on explanations in the text.
III. Discussion
A. Review Transactions
- Difference between Account Payable & Account Receivable
- Difference between a Liability and Expense
- Analyze and interpret financial transactions in order to properly record them based on explanations in the text.
IV. Chapter 1 Test tomorrow
V. Classwork
- Pgs 26-27 1-4 Application Problem
- Pg 27 Mastery Problem 1-M
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