cycle 1 - ch 1-9 service business, sole ch 1 ...review, audit quiz - moodle study stacks learning...
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Accounting I Chapter 1 lessons
Maplewood Jr Sr High 1
January 18, 2009
Cycle 1 - Ch 1-9Service Business, Sole Proprietorship
Ch 1Ch 2Ch 3Ch 4Ch 5Ch 6Ch 7Ch 8
Ch 9
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 2
January 18, 2009
Balance SheetAssets Liabilities
Owner Equity
Cash Supplies Prepaid Ins
AR - KW AR - NB
Bal
Bal
BalBal
Bal
BalBal
Bal
Bal
BalBal
Acct Receivable Acct Payable(Customers) (Vendors)
Acct Pay Chair Co Acct Pay - Hair Supplies
LRice, Drawing
LRice, Capital
Sales
Rent Exp Utilities Exp
Advert Exp
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 3
January 18, 2009
Cycle 1Chapter 4
Vocabulary & Questions - Google Doc
Audit Your Understanding - Google Doc
www.c21accounting.com
Workbook assignments
Review, Audit quiz - Moodle Study Stacks
Learning tools on-line Review, study
c21 flash cards
Rice website
1-1 WT
1-2 WT
1-3 WT
1-1 App
1-2 App
1-3 App
1-4 App
1-5 App
1-6 Mastery
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 4
January 18, 2009
Chapter 1 Workbook Solutions - Applications
1-1
1-2
1-3
1. The language of business.2. Taxi, babysitting, music lessons, teaching, haircutting, etc.3. A business owned by one person.4. Assets = Liabilities + Owner Equity
1. The right side must be increased.2. If one account is increased, another account on the sameside of the equation must be decreased.3. Buying items and paying for them at a future date.
1. Assets, liabilities, and owner equity
2. Assets3. Liabilities and owner equity4.Find the errors before completing any more work
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 5
January 18, 2009
Chapter 1
A = L + OE
Assets
Liabilities
Owner Equity
own
owe
worth
Workbook Solutions - Applications
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 6
January 18, 2009
5000
4000
28,000
Chapter 1
A = L + OE11000
400028000
Workbook Solutions - Applications
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 7
January 18, 2009
Chapter 1 A = L + OE
-+ +
+
+ +
+
+
+
+
+
--
-
--
-
-
-
-
-
Workbook Solutions - Applications
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 8
January 18, 2009
Chapter 1
A = L + OE
Hess CompanyBalance SheetOctober 31, 2008
AssetsCashSuppliesPrepaid Insurance
2400-300-600-
3300-Total Assets
60-600-
LiabilitiesAccts. Pay. - Hulett Co. 500-250-
Owner EquityJim Hess, Capital 3050-
3300-Total Liab & Owner Eq
Workbook Solutions - Applications
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 9
January 18, 2009
Chapter 1 Workbook Solutions - Applications
Rec'd cash from owner investment
Paid cash for insurance
Bought supplies on account
Bought supplies on accountPaid cash on account
Paid cash on account
Paid cash for suppliesRec'd cash from owner investment
1. What two accounts are affected? See Chart of Accounts2. Where are the two accounts in the equation? Asset? Liability? Owner Equity?3. How are these two accounts affected? increase or decrease?
-600 +6001400 0 600 0 0 2000
+100 +1001400 100 600 100 0 2000
+500 +5001400 600 600 100 500 2000
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 10
January 18, 2009
Chapter 1 Workbook Solutions - Applications
Paid cash for insurance
Bought supplies on account
Bought supplies on account
Paid cash on account
Rec'd cash from owner investment
Rec'd cash from owner investment
-1200 +1200
+800 +800
+500 +500
-400 -400
+1000 +1000
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 11
January 18, 2009
Chapter 1 Workbook Solutions - Applications
A = L + OE
Owner EquityAssetAsset
LiabilityAsset
LiabilityOwner Equity
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 12
January 18, 2009
Chapter 1 Workbook Solutions - ApplicationsA = L + OE
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 13
January 18, 2009
Chapter 1 Workbook Solutions - ApplicationsA = L + OE
Accounting I Chapter 1 lessons
Maplewood Jr Sr High 14
January 18, 2009
Chapter 1 Workbook Solutions - Applications
A = L + OE