Objective:  Review Basic Transactions and Balance Sheets  I.  Bellwork (10 minutes) A. Pg 32 Explore Accounting 1.  When does GAAP state revenue should be counted? 2.  List and describe the two methods for recognizing (recording) revenue in the section. II.  Finish and Print Excel Balance Sheets from Friday – Add your picture in the footer III.     Classwork […]

Objective:  Prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation.  I.  Bellwork pg 37 Critical Thinking Case #1 – Answer Completely II.  Classwork         A.  Chapter 2 Review Sheet                 B.  Balance sheets on Excel 1.) Pgs 31 & 34 wb pgs […]

Objectives:  Prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation. I.   Bellwork pg. 31 A.  1-3 Questions & Answers II.  Notebook Work Page 25           A.  Critical Thinking Question & Answers 1-2 III.   2-2 Reporting a Changed Accounting Equation on the Balance Sheet pg 30 […]

Objectives: Identify accounting concepts and practices related to changes that affect owner’s equity for a service business organized as a proprietorship. Analyze changes in an accounting equation that affect owner’s equity for a service business organized as a proprietorship. I.  Bellwork: pg 29         A.  4 terms & 1-3 Questions and Answers                II.  […]

Objectives:  (Review) Analyze how transactions related to starting a service business organized as a proprietorship affect accounts in an accounting equation. Prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation. I.  Bellwork  Page 21 A.  Critical Thinking 1-2 Complete Sentence Answers II.  Turn In Extra Problem […]

Objectives: Identify accounting concepts and practices related to starting a service business organized as a proprietorship. Analyze how transactions related to starting a service business organized as a proprietorship affect accounts in an accounting equation. I. Bellwork A. List 3 examples of asset accounts B. List an example of a liability account C. List an […]

Objective: Use Excel to create a properly formatted Balance Sheet.   I.  Bellwork     A.  Identify which accounts are affected by each transaction and whether there is an increase (+) or decrease (-). Matthew invested $1000.00 cash in his business Bought Prepaid Insurance for Cash $600.00 Bought Supplies on account from Nabil Enterprises $100.00 II.  Classwork A.  […]

Objectives: Analyze how transactions related to starting a service business organized as a proprietorship affect accounts in an accounting equation. Prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation. I.  Bellwork           A.  Questions and Answers What is on each line of the 3 […]

Objective Prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation. I.  Bellwork         A.  List the 7 Procedures for Exiting the Classroom II.    Section 1-3 Balance Sheet          A.   Read and Discuss pgs  13-14             1.   Purpose of the Balance Sheet             2.   Parts of […]

Objectives: Identify accounting concepts and practices related to starting a service business organized as a proprietorship. Analyze how transactions related to starting a service business organized as a proprietorship affect accounts in an accounting equation. I.  Bellwork         A.  List 4 Procedures you should follow During Instruction II.  1–2  How Business Activities Change the Accounting […]