Accounting 1 – 2/04/08
Objectives·
- Define accounting terms related to starting a service business organized as a proprietorship.
- Classify accounts as assets, liabilities, or owner’s equity and demonstrate their relationships in the accounting equation.
I. Bellwork
A. List 6 things you should do After the Tardy Bell has rung. (See Class Procedure Notes)
II. Starting a Proprietorship Page 4
III. The Accounting Equation – Section 1-1
A. Read and Discuss Pgs 6-7
- Propreitorship
- Assests
- Liabilility
- Owner’s Equity
- Accounting Equation
IV. Review – Lesson 1-1 PPT
V. Classwork
A. Page 8
- Terms (10) & 1-4 Question & Answers
- Problems 5 & 6
B. Page 17 Application Problem 1-1