Slide 1 Transactions That Affect Revenue, Expenses, and Withdrawals What You’ll Learn The rules of debit and credit for the revenue, expense, and withdrawals accounts.…
Slide 1 Slide 2 Forms of Business Slide 3 Sole (Single) Proprietorship Partnership Corporation Co-operative Slide 4 Sole Proprietorships ONE OWNER DIRECTLY ALL THE…
Slide 1 THE ACCOUNT An account is an individual accounting record of increases and decreases in a specific asset, liability, or owner’s equity item. A company will have…
Slide 1 An accounting device used to analyze transactions is a called a/an ____________ T ACCOUNT Slide 2 An amount recorded on the left side of a T account is a ______ DEBIT…
Slide 1 Welcome to... A Game of X’s and O’s Slide 2 Rules Groups of two are asked and can answer as a pair NO NOTESNO NOTES Go around the room in order 3 in a row wins…
Slide 1 Transactions That Affect Revenue, Expenses, and Withdrawals Making Accounting Relevant Businesses earn revenue by selling products or services. Think of a business…
Slide 1 Cooley 2012-13 Slide 2 An equation showing the relationship among assets, liabilities, and owner’s equity. Slide 3 An increase in owner’s equity resulting from…