© South-Western Educational Publishing RECEIVED CASH FROM SALES Lesson 3-3, page 51 August 12. Received cash from sales, $325.00. 1 3 4 22 3 4 1 1.Cash.

Slides:

Advertisements

Similar presentations

© 2000 South-Western Educational Publishing RECEIVED CASH FROM SALES Lesson 4-3, page 76 August 12. Received cash from sales, $ Tape No Which.

Advertisements

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Journals, Source Documents, and Recording Entries in a Journal.

What you should KNOW from Chapter 1

Chapter 4 - Journalizing Transactions

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation.

© 2000 South-Western Educational Publishing THE ACCOUNTING EQUATION Lesson 1-1, page 7.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 2-1 Focus questions: What is a debit, credit, and T Account? How do these terms relate.

CHAPTER 3: Analyzing Transactions into Debit and Credit Parts

© South-Western Educational Publishing RECEIVED CASH FROM OWNER AS AN INVESTMENT Lesson 3-2, page 45 August 1. Received cash from owner as an investment,

How Transactions Change Owner ’ s Equity in an Accounting Equation Section 1-3.

© 2000 South-Western Educational Publishing ESTABLISHING A PETTY CASH FUND August 17. Paid cash to establish a petty cash fund, $ Check No Which.

CENTURY 21 ACCOUNTING © Thomson/South-Western 1 LESSON 1-2 Lesson 1-1 THE ACCOUNTING EQUATION page 8.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 1-1 The Accounting Equation.

T ERMS REVIEW journal journalizing entry general journal double-entry accounting source document Lesson 4-1, page 71 check invoice sales invoice receipt.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation Original created by M.C. McLaughlin,

LESSON 2-1 Using T Accounts

Changes that Affect Owner’s Equity Chapter 2. Changes that affect OE Revenue ◦Sales ◦Sales on Account Expenses.

© 2000 South-Western Educational Publishing PAID CASH FOR INSURANCE Lesson 4-2, page 72 August 4. Paid cash for insurance, $1, Check No Which.

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

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Chapter 2 Objectives: Define accounting terms related to analyzing transactions into debit.

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

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts.

CENTURY 21 ACCOUNTING © Thomson/South-Western 1 LESSON 2-1 ANALYZING THE ACCOUNTING EQUATION - Using T Accounts page 28.

How Transactions Change Owner’s Equity in an Accounting Equation The changes that typically effect the day to day activities within a business.

CHAPTER 2 Analyzing Transactions into Debit and Credit Parts.

© South-Western Educational Publishing ESTABLISHING A PETTY CASH FUND August 17. Paid cash to establish a petty cash fund, $ Check No Which.

Chapter 3 – Analyzing Transactions into Debit and Credit Parts

GAAP – Generally Accepted Accounting Principles (10) FASB – Financial Accounting Standards Board n GAAP: –Objective Evidence: a source document (piece.

Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO5 Analyze transactions for operating a business into debit and credit parts.

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

RECEIVED CASH FROM SALES

LESSON 3-3 5/21/2018 LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account Blue.

LESSON 3-3 5/21/2018 LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account Blue.

Journal Entry of the DAY!!!!

© 2014 Cengage Learning. All Rights Reserved.

Chapter 3 - Analyzing Transactions into Debit & Credit Parts

Chapter 2 Changes that affect Owner’s Equity

Bell Ringer What are the four parts of accounting?

Lesson 1-1 The Accounting Equation

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

How Transactions Change Owner’s Equity in an Accounting Equation

How Transactions Change Owner’s Equity in an Accounting Equation

Transaction 6 August 12. Received cash from sales, $

LESSON 2-1 Using T Accounts

LESSON 3-3 2/24/2019 LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account Green.

Analyzing Transactions into Debit and Credit Parts

LESSON 2-1 Using T Accounts

Changes That Affect Owner’s Equity

Analyzing Transactions into Debit and Credit Parts

LESSON 2-1 Using T Accounts

How Transactions Change Owner’s Equity in an Accounting Equation

Lesson 1-1 The Accounting Equation

Lesson 1-1 The Accounting Equation

Journals, Source Documents, and Recording Entries in a Journal

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

LESSON 2-1 Using T Accounts

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

How Transactions Change Owner’s Equity in an Accounting Equation

© 2014 Cengage Learning. All Rights Reserved.

LESSON 2-1 Using T Accounts

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

LESSON 3-3 7/23/2019 LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account Blue.

How Transactions Change Owner’s Equity in an Accounting Equation

RECEIVED CASH FROM SALES

© 2014 Cengage Learning. All Rights Reserved.

Transaction 6 August 12. Received cash from sales, $

Presentation transcript:

© South-Western Educational Publishing RECEIVED CASH FROM SALES Lesson 3-3, page 51 August 12. Received cash from sales, $ Cash and Sales are affected. 4.Cash is debited. Sales is credited. 3.Assets are increased. Owner’s equity is increased. 2.Cash is an asset. Sales is a revenue account that affects owner’s equity.

© South-Western Educational Publishing SOLD SERVICES ON ACCOUNT Lesson 3-3, page 52 August 12. Sold services on account to Kids Time, $ Accounts Receivable—Kids Time and Sales are affected. 4.Accounts Receivable—Kids Time is debited. Sales is credited. 3.Assets are increased. Owner’s equity is increased. 2. Accounts Receivable—Kids Time is an asset. Sales is a revenue account that affects owner’s equity.

© South-Western Educational Publishing 2.Cash is an asset. Rent Expense is an expense account that affects owner’s equity. 3.Assets are decreased. Owner’s equity is decreased; expenses are increased. PAID CASH FOR AN EXPENSE Lesson 3-3, page 53 August 12. Paid cash for rent, $ Rent Expense and Cash are affected. 4.Rent Expense is debited. Cash is credited. 2 3

© South-Western Educational Publishing 1.Cash and Accounts Receivable—Kids Time are affected. 4.Cash is debited. Accounts Receivable—Kids Time is credited. 3.Assets (Cash) are increased. Assets (Accounts Receivable—Kids Time) is decreased. 2. Cash and Accounts Receivable—Kids Time are assets. RECEIVED CASH ON ACCOUNT Lesson 3-3, page 54 August 12. Received cash on account from Kids Time, $