LESSON 1-2 How Business Activities Change the Accounting Equation

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LESSON 1-2 How Business Activities Change the Accounting Equation

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Presentation transcript:

LESSON 1-2 How Business Activities Change the Accounting Equation 8/3/2018 LESSON 1-2 How Business Activities Change the Accounting Equation

RECEIVING CASH Transaction 1 August 1. Received cash from owner as an investment, $5,000.00. LESSON 1-2

PAYING CASH Transaction 2 August 3. Paid cash for supplies, $275.00. Transaction 3 August 4. Paid cash for insurance, $1,200.00. LESSON 1-2

TRANSACTIONS ON ACCOUNT Transaction 4 August 7. Bought supplies on account from Supply Depot, $500.00. Transaction 5 August 11. Paid cash on account to Supply Depot, $300.00. LESSON 1-2

TERMS REVIEW transaction account account title account balance capital LESSON 1-2