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Lesson 1-1 The Accounting Equation
5/13/2019 LESSON 1-1 The Accounting Equation
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THE ACCOUNTING EQUATION
Lesson 1-1 5/13/2019 THE ACCOUNTING EQUATION page 8 LESSON 1-1
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TERMS REVIEW accounting accounting system accounting records
page 9 accounting accounting system accounting records financial statements service business proprietorship asset equities liability owner’s equity accounting equation ethics business ethics LESSON 1-1
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LESSON 1-2 How Business Activities Change the Accounting Equation
5/13/2019 LESSON 1-2 How Business Activities Change the Accounting Equation
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RECEIVING CASH page 10 Transaction 1 August 1. Received cash from owner as an investment, $5, LESSON 1-2
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PAYING CASH Transaction 2 August 3. Paid cash for supplies, $275.00.
page 11 Transaction 2 August 3. Paid cash for supplies, $ Transaction 3 August 4. Paid cash for insurance, $1, LESSON 1-2
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TRANSACTIONS ON ACCOUNT
page 12 Transaction 4 August 7. Bought supplies on account from Supply Depot, $ Transaction 5 August 11. Paid cash on account to Supply Depot, $ LESSON 1-2
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TERMS REVIEW transaction account account title account balance capital
page 13 transaction account account title account balance capital LESSON 1-2
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How Transactions Change Owner’s Equity in an Accounting Equation
Lesson 1-3 5/13/2019 LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation
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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
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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
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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
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TERMS REVIEW revenue sale on account expense withdrawals page 17
Lesson 1-3 5/13/2019 TERMS REVIEW page 17 revenue sale on account expense withdrawals LESSON 1-3
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