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LESSON 2-2 Analyzing How Transactions Affect Accounts

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Presentation on theme: "LESSON 2-2 Analyzing How Transactions Affect Accounts"— Presentation transcript:

1 LESSON 2-2 Analyzing How Transactions Affect Accounts
5/20/2019 LESSON 2-2 Analyzing How Transactions Affect Accounts

2 RECEIVED CASH FROM OWNER AS AN INVESTMENT
page 32 August 1. Received cash from owner as an investment, $5, 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

3 PAID CASH FOR SUPPLIES page 33 August 3. Paid cash for supplies, $ 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

4 PAID CASH FOR INSURANCE
page 34 August 4. Paid cash for insurance, $1, 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

5 BOUGHT SUPPLIES ON ACCOUNT
page 35 August 7. Bought supplies on account from Supply Depot, $ 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

6 PAID CASH ON ACCOUNT page 36 August 11. Paid cash on account to Supply Depot, $ 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

7 TERM REVIEW page 37 chart of accounts LESSON 2-2

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