Chapter 2

Analyzing Transactions: The Accounting Equation

 Learning Objectives

  • LO1    Define the accounting elements.
  • LO2    Construct the accounting equation.
  • LO3    Analyze business transactions.
  • LO4    Show the effects of business transactions on the accounting equation.
  • LO5    Prepare and describe the purposes of a simple income statement, statement of owner’s equity, and balance sheet.
  • LO6    Define the three basic phases of the accounting process.

LO4

  1. In-Class Exercise (HAND THESE ALL IN WHEN YOU ARE DONE):
    1. Study Guide Review Questions 11, 12, 13, 14, 15
    2. Study Guide Exercises 2, 6, 7, 8
    3. Study Guide Problem 13
    4. End of Chapter Review Question 2
  2. PLAY THE GAMES FOR CHAPTER 2 HERE
  3. GO HERE & PLAY BANK ON IT WITH A PARTNER–Our class code is B6U3EMRW
  4. EXTRA PRACTICE