LESSON 2-1 Using T Accounts * LESSON 2-1 Using T Accounts LESSON 2-1 *
ANALYZING THE ACCOUNTING EQUATION * ANALYZING THE ACCOUNTING EQUATION page 28 LESSON 2-1 LESSON 2-1
* ACCOUNTS page 29 LESSON 2-1 LESSON 2-1
* ACCOUNT BALANCES page 29 LESSON 2-1 LESSON 2-1
INCREASES AND DECREASES IN ACCOUNTS * INCREASES AND DECREASES IN ACCOUNTS page 30 LESSON 2-1 LESSON 2-1
TERMS REVIEW T account debit credit normal balance LESSON 2-1 * page 31 T account debit credit normal balance LESSON 2-1 LESSON 2-1
LESSON 2-1 Analyzing How Transactions Affect Accounts * LESSON 2-2 Analyzing How Transactions Affect Accounts LESSON 2-1 *
RECEIVED CASH FROM OWNER AS AN INVESTMENT * RECEIVED CASH FROM OWNER AS AN INVESTMENT page 32 August 1. Received cash from owner as an investment, $5,000.00. 2 1 4 3 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? LESSON 2-2 LESSON 2-2
PAID CASH FOR SUPPLIES August 3. Paid cash for supplies, $275.00. * PAID CASH FOR SUPPLIES page 33 August 3. Paid cash for supplies, $275.00. 2 1 4 3 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? LESSON 2-2 LESSON 2-2
PAID CASH FOR INSURANCE * PAID CASH FOR INSURANCE page 34 August 4. Paid cash for insurance, $1,200.00. 2 1 4 3 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? LESSON 2-2 LESSON 2-2
BOUGHT SUPPLIES ON ACCOUNT * BOUGHT SUPPLIES ON ACCOUNT page 35 August 7. Bought supplies on account from Supply Depot, $500.00. 2 1 4 3 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? LESSON 2-2 LESSON 2-2
* PAID CASH ON ACCOUNT page 36 August 11. Paid cash on account to Supply Depot, $300.00. 2 1 4 3 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? LESSON 2-2 LESSON 2-2
* TERM REVIEW page 37 chart of accounts LESSON 2-2 LESSON 2-2
LESSON 2-1 Analyzing How Transactions Affect Owner’s Equity Accounts * LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts LESSON 2-1 Green *
RECEIVED CASH FROM SALES * RECEIVED CASH FROM SALES page 38 August 12. Received cash from sales, $295.00. 2 1 4 3 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? LESSON 2-3 LESSON 2-3
SOLD SERVICES ON ACCOUNT * SOLD SERVICES ON ACCOUNT page 39 August 12. Sold services on account to Oakdale School, $350.00. 2 1 4 3 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? LESSON 2-3 LESSON 2-3
PAID CASH FOR AN EXPENSE * PAID CASH FOR AN EXPENSE page 40 August 12. Paid cash for rent, $300.00. 2 1 4 3 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? LESSON 2-3 LESSON 2-3
RECEIVED CASH ON ACCOUNT * RECEIVED CASH ON ACCOUNT page 41 August 18. Received cash on account from Oakdale School, $200.00. 2 1 4 3 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? LESSON 2-3 LESSON 2-3
PAID CASH TO OWNER FOR PERSONAL USE * PAID CASH TO OWNER FOR PERSONAL USE page 42 August 12. Paid cash to owner for personal use, $125.00. 2 1 4 3 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? LESSON 2-3 LESSON 2-3