{"id":625,"date":"2008-05-23T08:51:38","date_gmt":"2008-05-23T12:51:38","guid":{"rendered":"http:\/\/blog.dearbornschools.org\/farhoua\/2008\/05\/23\/accounting-1-52308\/"},"modified":"2008-05-23T08:51:38","modified_gmt":"2008-05-23T12:51:38","slug":"accounting-1-52308","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2008\/05\/23\/accounting-1-52308\/","title":{"rendered":"Accounting 1 &#8211; 5\/23\/08"},"content":{"rendered":"<p>Objectives:<\/p>\n<ul>\n<li>Identify accounting concepts and practices related to preparation of an income statement and balance sheet for a business organized as a proprietorship.<\/li>\n<li>Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component percentages.<\/li>\n<li>Prepare a balance sheet for a service business organized as a proprietorship<\/li>\n<\/ul>\n<p>I.\u00a0 Bellwork<\/p>\n<p>\u00a0A.\u00a0 Determine the new adjusted capital\u00a0balance for each Company<\/p>\n<table border=\"1\" cellPadding=\"0\" cellSpacing=\"0\">\n<tr>\n<td width=\"175\" vAlign=\"top\">\n<p align=\"center\"><strong><font size=\"3\">1.\u00a0 Company A<\/font><\/strong><\/p>\n<\/td>\n<td width=\"180\" vAlign=\"top\"><strong><font size=\"3\">2.\u00a0 Company B<\/font><\/strong><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<td width=\"156\" vAlign=\"top\"><strong><font size=\"3\">3.\u00a0 Company C<\/font><\/strong><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<\/tr>\n<tr>\n<td width=\"175\" vAlign=\"top\"><font size=\"3\">Capital is $12,500<\/font><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<td width=\"180\" vAlign=\"top\"><font size=\"3\">Capital is $26,500<\/font><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<td width=\"156\" vAlign=\"top\"><font size=\"3\">Capital is $6,500<\/font><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<\/tr>\n<tr>\n<td width=\"175\" vAlign=\"top\"><font size=\"3\">Drawing is $6,000<\/font><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<td width=\"180\" vAlign=\"top\"><font size=\"3\">Drawing is $14,000<\/font><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<td width=\"156\" vAlign=\"top\"><font size=\"3\">Drawing is $7,000<\/font><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<\/tr>\n<tr>\n<td width=\"175\" vAlign=\"top\"><font size=\"3\">Net Income is $6,500<\/font><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<td width=\"180\" vAlign=\"top\"><font size=\"3\">Net Income is $12,500<\/font><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<td width=\"156\" vAlign=\"top\"><font size=\"3\">Net Loss is ($500)<\/font><font size=\"3\" face=\"Times New Roman\">\u00a0<\/font><\/td>\n<\/tr>\n<\/table>\n<p>II.\u00a0 Notebook Work<\/p>\n<blockquote><p>A.\u00a0 Page 189\u00a0 Applied Communications<\/p>\n<p>B.\u00a0 Pg 189 Cases for Critical Thinking Question &amp; Answer<\/p><\/blockquote>\n<p>III.\u00a0 Chapter 8 Test<\/p>\n<p>IV.\u00a0 Notebook Check Coming Soon<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Objectives: Identify accounting concepts and practices related to preparation of an income statement and balance sheet for a business organized as a proprietorship. Prepare an income statement for a service business organized as a proprietorship and analyze an income statement using component percentages. Prepare a balance sheet for a service business organized as a proprietorship [&hellip;]<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-625","post","type-post","status-publish","format-standard","hentry","category-accounting"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/comments?post=625"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/625\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}