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LESSON 2-1

LESSON 2-1. Using T Accounts. ANALYZING THE ACCOUNTING EQUATION. page 28. ACCOUNTS. page 29. ACCOUNT BALANCES. page 29. INCREASES AND DECREASES IN ACCOUNTS. page 30. LESSON 2-2. Analyzing How Transactions Affect Accounts. RECEIVED CASH FROM OWNER AS AN INVESTMENT. page 32.

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LESSON 2-1

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  1. LESSON 2-1

    Using T Accounts
  2. ANALYZING THE ACCOUNTING EQUATION page 28 LESSON 2-1
  3. ACCOUNTS page 29 LESSON 2-1
  4. ACCOUNT BALANCES page 29 LESSON 2-1
  5. INCREASES AND DECREASES IN ACCOUNTS page 30 LESSON 2-1

  6. LESSON 2-2

    Analyzing How Transactions Affect Accounts
  7. 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
  8. 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
  9. 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
  10. 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
  11. 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

  12. LESSON 2-3

    Analyzing How Transactions Affect Owner’s Equity Accounts
  13. RECEIVED CASH FROM SALES page 38 August 12. Received cash from sales, $295.00. 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 2-3
  14. SOLD SERVICES ON ACCOUNT page 39 August 12. Sold services on account to Oakdale School, $350.00. 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 2-3
  15. PAID CASH FOR AN EXPENSE page 40 August 12. Paid cash for rent, $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 2-3
  16. RECEIVED CASH ON ACCOUNT page 41 August 18. Received cash on account from Oakdale School, $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 2-3
  17. PAID CASH TO OWNER FOR PERSONAL USE page 42 August 12. Paid cash to owner for personal use, $125.00. 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 2-3
  18. TERMS REVIEW page 31 LESSON 2-1
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