Transaction 6 August 12. Received cash from sales, $

Slides:

Advertisements

Similar presentations

© 2000 South-Western Educational Publishing RECEIVED CASH FROM SALES Lesson 4-3, page 76 August 12. Received cash from sales, $ Tape No Which.

Advertisements

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 3-1 Journals, Source Documents, and Recording Entries in a Journal.

What you should KNOW from Chapter 1

Chapter 2 Objectives: Define accounting terms related to changes that affect owner’s equity for a service business organized as a proprietorship. Identify.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation.

© 2000 South-Western Educational Publishing THE ACCOUNTING EQUATION Lesson 1-1, page 7.

Chapter 2: Starting a Proprietorship

CHAPTER 1 Starting a Sole Proprietorship: Changes That Affect the Accounting Equation.

How Transactions Change Owner ’ s Equity in an Accounting Equation Section 1-3.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation Analyze transactions.

CENTURY 21 ACCOUNTING © Thomson/South-Western 1 LESSON 1-2 Lesson 1-1 THE ACCOUNTING EQUATION page 8.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 1-1 The Accounting Equation.

Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO6Compare and contrast the types of transactions that increase and decrease owner’s.

© South-Western Educational Publishing RECEIVED CASH FROM SALES Lesson 3-3, page 51 August 12. Received cash from sales, $ Cash.

T ERMS REVIEW journal journalizing entry general journal double-entry accounting source document Lesson 4-1, page 71 check invoice sales invoice receipt.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account.

Accounting. How transactions change owner’s equity in accting equation revenue increases Owner’s Equity withdrawls decrease Owner’s Equity received cash.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation Original created by M.C. McLaughlin,

LESSON 2-1 Using T Accounts

Changes that Affect Owner’s Equity Chapter 2. Changes that affect OE Revenue ◦Sales ◦Sales on Account Expenses.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 2-1 Using T Accounts.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts.

CENTURY 21 ACCOUNTING © Thomson/South-Western 1 LESSON 2-1 ANALYZING THE ACCOUNTING EQUATION - Using T Accounts page 28.

CHAPTER 3: Starting a Proprietorship: Changes That Affect Owner’s Equity.

How Transactions Change Owner’s Equity in an Accounting Equation The changes that typically effect the day to day activities within a business.

Chapter 2 - Starting a Proprietorship Objectives: 1.Define accounting terms related to changes that affect owner’s equity for a service business organized.

Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO5 Analyze transactions for operating a business into debit and credit parts.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning TERMS – We went over 2 already accounting accounting system accounting records financial statements.

It is the language of business

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

RECEIVED CASH FROM SALES

LESSON 3-3 5/21/2018 LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account Blue.

LESSON 3-3 5/21/2018 LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account Blue.

Starting a Proprietorship: Changes That Affect the Accounting Equation

© 2014 Cengage Learning. All Rights Reserved.

Chapter 3 - Analyzing Transactions into Debit & Credit Parts

Chapter 2 Changes that affect Owner’s Equity

Bell Ringer What are the four parts of accounting?

Lesson 1-1 The Accounting Equation

Lesson 1-1 The Accounting Equation

© 2014 Cengage Learning. All Rights Reserved.

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

How Transactions Change Owner’s Equity in an Accounting Equation

How Transactions Change Owner’s Equity in an Accounting Equation

LO7 Explain the difference between expenses and liabilities.

LESSON 2-1 Using T Accounts

LESSON 3-3 2/24/2019 LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account Green.

Changes That Affect Owner’s Equity

© 2014 Cengage Learning. All Rights Reserved.

LESSON 2-1 Using T Accounts

How Transactions Change Owner’s Equity in an Accounting Equation

Lesson 1-1 The Accounting Equation

Lesson 1-1 The Accounting Equation

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

LESSON 2-1 Using T Accounts

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

How Transactions Change Owner’s Equity in an Accounting Equation

© 2014 Cengage Learning. All Rights Reserved.

LESSON 2-1 Using T Accounts

LESSON 2-3 Analyzing How Transactions Affect Owner’s Equity Accounts

LESSON 3-3 7/23/2019 LESSON 3-3 Journalizing Transactions That Affect Owner’s Equity and Receiving Cash on Account Blue.

How Transactions Change Owner’s Equity in an Accounting Equation

RECEIVED CASH FROM SALES

© 2014 Cengage Learning. All Rights Reserved.

Transaction 6 August 12. Received cash from sales, $

Presentation transcript:

Transaction 6 August 12. Received cash from sales, $325.00. REVENUE TRANSACTIONS Transaction 6 August 12. Received cash from sales, $325.00. Transaction 7 August 12. Sold services on account to Kids Time, $200.00. Lesson 2-1, page 26

Transaction 8 August 12. Paid cash for rent, $250.00. PAID CASH FOR EXPENSES Transaction 8 August 12. Paid cash for rent, $250.00. –45 (expense) Transaction 9 August 12. Paid cash for telephone bill, $45.00. Lesson 2-1, page 27

OTHER TRANSACTIONS Transaction 10 August 12. Received cash on account from Kids Time, $100.00. –100 (withdrawal) Transaction 11 August 12. Paid cash to owner for personal use, $100.00. Lesson 2-1, page 28

SUMMARY OF CHANGES IN OWNER’S EQUITY Transaction Change in Number Kind of Transaction Owner’s Equity 6 Revenue (cash) +325.00 7 Revenue (on account) +200.00 8 Expense (rent) –250.00 9 Expense (telephone) –45.00 11 Withdrawal –100.00 Net change in owner’s equity +130.00 Lesson 2-1, page 28

TERMS REVIEW revenue sale on account expense withdrawals Lesson 2-1, page 29