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LESSON 2-2

LESSON 2-2. Analyzing How Transactions Affect Accounts. 2. 2. 1. 1. 4. 4. 3. 3. RECEIVED CASH FROM OWNER AS AN INVESTMENT. page 32. August 1. Received cash from owner as an investment, $5,000.00. 1. Which accounts are affected?. 2. How is each account classified?.

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LESSON 2-2

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  1. LESSON 2-2 Analyzing How Transactions Affect Accounts

  2. 2 2 1 1 4 4 3 3 RECEIVED CASH FROM OWNER AS AN INVESTMENT page 32 August 1. Received cash from owner as an investment, $5,000.00. 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. 2 1 1 4 4 3 3 PAID CASH FOR SUPPLIES page 33 August 3. Paid cash for supplies, $275.00. 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. 2 1 1 4 4 3 3 PAID CASH FOR INSURANCE page 34 August 4. Paid cash for insurance, $1,200.00. 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. 2 2 1 1 4 4 3 3 BOUGHT SUPPLIES ON ACCOUNT page 35 August 7. Bought supplies on account from Supply Depot, $500.00. 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. 2 2 1 1 4 4 3 3 PAID CASH ON ACCOUNT page 36 August 11. Paid cash on account to Supply Depot, $300.00. 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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