GOAL: Before you leave class today you will be able to:

  • Determine balances of T accounts
  • Present the fundamental accounting equation using the T form and label the plus and minus sides

RIGHT NOW:

  1. Open your textbook to page 50 & listen to this intro to chapter 2 video as you follow along in your textbook
  2. Turn in your textbook to page 51 & listen to this learning objective 1 video about The T Account Form as you follow along
  3. Open your textbook to page 53 & listen to this video about learning objective 2, the T account form with plus and minus sides, as you follow along in your textbook
  4. Log in to your Cengage Now account
  5. Click STUDY TOOLS
  6. Click ADAPTIVE STUDY PLAN
  7. Next to Chapter 2 – T Accounts, Debits and Credits, Trial Balance, and Financial Statements click START STUDYING
  8. Click 1. Determine balances of T accounts and complete the following:
    1. eBook – 2.1: The T Account Form — Read & study it as a review
    2.  Show Me How: Determine balances of T accounts.  — Watch it
    3. SHOW ME WHEN YOU ARE DONE
  9. Click 2. Present the fundamental accounting equation using the T account form and label the plus and minus sides. and complete the following:
    1.  eBook – 2.2: The T Account Form with Plus and Minus Sides — Read & study it as a review
    2. Show Me How: Present the fundamental accounting equation using the T account form and label the plus and minus sides. — Watch it
    3.  Practice! — Do it
    4. SHOW ME WHEN YOU ARE DONE
  10. In an email message to me, explain in your own words why assets, liabilities, and the owner’s equity accounts increase on the sides they increase on.