Accounting 1 – 3/03/08
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.
I. Bellwork
A. 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
II. 3-3 How Transactions Affect Owners Equity
A. Read & Discuss Pgs. 51-55
- Cash received from Sales
- Sales on Account
- Cash paid for Expenses
- Cash received on Account
- Cash paid to Owner
III. Review – 3-3 PPT
IV. Class work
A. Pg 56 Q & A 1-5
B. Pg. 56 #6-#9 wb pg. 39-40
C. Pg. 59 3-3 App wb pg. 45