Acctg 9/11/07
1-1 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 -Due in 5 min
II. Starting a Proprietorship Pg 4
III. Notebook Work Page 5 – Critical Thinking
1-2 Write Questions & Answers
IV. The Accounting Equation – Section 1-1
A. Read and Discuss Pgs 6-7
1. Propreitorship
2. Assests
3. Liabilility
4. Owner’s Equity
5. Accounting Equation
V. Classwork Pg 8
A. Terms (10) & 1-4 Q & A
B. Pg 8 Problems 5 & 6
C. Page 17 Application Problem 1-1