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Bell Ringer What are the four parts of accounting?

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Presentation on theme: "Bell Ringer What are the four parts of accounting?"— Presentation transcript:

1 Bell Ringer What are the four parts of accounting?
Why do you think accounting is important? LESSON 1-3

2 How Transactions Change Owner’s Equity in an Accounting Equation
Lesson 1-3 8/3/2018 LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation

3 REVENUE TRANSACTIONS page 14 Transaction 6 August 12. Received cash from sales, $ Transaction 7 August 12. Sold services on account to Oakdale School, $ LESSON 1-3

4 EXPENSE TRANSACTIONS page 15 Transaction 8 August 12. Paid cash for rent, $ Transaction 9 August 12. Paid cash for telephone bill, $40.00. LESSON 1-3

5 OTHER CASH TRANSACTIONS
page 16 Transaction 10 August 12. Received cash on account from Oakdale School, $ Transaction 11 August 12. Paid cash to owner for personal use, $ LESSON 1-3

6 TERMS REVIEW revenue sale on account expense withdrawals page 17
Lesson 1-3 8/3/2018 TERMS REVIEW page 17 revenue sale on account expense withdrawals LESSON 1-3

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