Lesson 1 1
This presentation is the property of its rightful owner.
Sponsored Links
1 / 5

LESSON 1-1 PowerPoint PPT Presentation


  • 77 Views
  • Uploaded on
  • Presentation posted in: General

LESSON 1-1. The Accounting Equation. Objectives  Define accounting terms related to starting a service business organized as a proprietorship and to changes that affect the accounting equation.

Download Presentation

LESSON 1-1

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Lesson 1 1

LESSON 1-1

The Accounting Equation

Objectives

Define accounting terms related to starting a service business organized as a proprietorship and to changes that affect the accounting equation.

Identify accounting concepts and practices related to starting a service business organized as a proprietorship and to changes that affect the accounting equation.


The accounting equation

THE ACCOUNTING EQUATION

page 8

MUST BE IN BALANCE!!!!

LESSON 1-1


Work together 1 1 p 9

Work Together 1-1 p. 9

Write the answers to the following problem in the working papers. Fill in the missing amount to complete the accounting equation.

11,000

?

?

4,000

28,000

?

LESSON 1-1


Own your own 1 1 p 9

OWN YOUR OWN 1-1 P. 9

Write the answers to the following problem in the working papers. Fill in the missing amount to complete the accounting equation.

17,000

?

?

80,000

26,000

?

LESSON 1-1


Terms review

accounting

accounting system

accounting records

financial statements

service business

proprietorship

asset

equities

liability

owner’s equity

accounting equation

ethics

business ethics

TERMS REVIEW

page 9

ASSIGNMENT: Application problem 1-1

Homework: Read Chapter 1-1 (pages 4-9) and review the terms from chapter 1-1

LESSON 1-1


  • Login