1. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 2-1 Using T Accounts

2. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 2 LESSON 2-1 ANALYZING THE ACCOUNTING EQUATION page 28

3. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON 2-1 ACCOUNTS page 29

4. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON 2-1 ACCOUNT BALANCES page 29

5. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 2-1 INCREASES AND DECREASES IN ACCOUNTS page 30

6. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 2-2 Analyzing How Transactions Affect Accounts

7. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 7 LESSON 2-2 RECEIVED CASH FROM OWNER AS AN INVESTMENT 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts? August 1. Received cash from owner as an investment, $5,000.00. page 32 1. Which accounts are affected?

8. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 8 LESSON 2-2 PAID CASH FOR SUPPLIES 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts? August 3. Paid cash for supplies, $275.00. page 33 1. Which accounts are affected?

9. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 9 LESSON 2-2 1. Which accounts are affected? PAID CASH FOR INSURANCE 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts? August 4. Paid cash for insurance, $1,200.00. page 34

10. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 10 LESSON 2-2 BOUGHT SUPPLIES ON ACCOUNT page 35 August 7. Bought supplies on account from Supply Depot, $500.00. 1. Which accounts are affected? 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts?

11. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 11 LESSON 2-2 PAID CASH ON ACCOUNT page 36 August 11. Paid cash on account to Supply Depot, $300.00. 1. Which accounts are affected? 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts?

12. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

13. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 13 LESSON 2-3 RECEIVED CASH FROM SALES page 38 August 12. Received cash from sales, $295.00. 1. Which accounts are affected? 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts?

14. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 14 LESSON 2-3 SOLD SERVICES ON ACCOUNT page 39 August 12. Sold services on account to Oakdale School, $350.00. 1. Which accounts are affected? 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts?

15. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 15 LESSON 2-3 PAID CASH FOR AN EXPENSE page 40 August 12. Paid cash for rent, $300.00. 1. Which accounts are affected? 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts?

16. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 16 LESSON 2-3 RECEIVED CASH ON ACCOUNT page 41 August 18. Received cash on account from Oakdale School, $200.00. 1. Which accounts are affected? 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts?

17. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 17 LESSON 2-3 PAID CASH TO OWNER FOR PERSONAL USE page 42 August 12. Paid cash to owner for personal use, $125.00. 1. Which accounts are affected? 2. How is each account classified? 3. How is each classification changed? 4. How is each amount entered in the accounts?

18. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 18 LESSON 2-1 TERMS REVIEW page 31 T- AccountAn accounting device used to analyze transactions. DebitAn amount recorded on the left side of a T account. Credit An amount recorded on the right side of a T account. Normal BalanceThe side of the account that is increased. Chart of accountsA list of accounts used by a business.