TURN IN YOUR HOMEWORK FROM LAST CLASS: Managing Your Writing (page 19) & Chapter 1 Quiz on the STUDENT RESOURCE WEB PAGE
You have today and the next 3 classes to finish this lesson plan. Take your time and LEARN!!!
TAKE THE TUTORIAL QUIZ as a PRE-TEST–THIS WILL NOT GO IN MY GRADEBOOK!!! Be sure to choose CHAPTER 2 from the drop-down menu!!
Analyzing Transactions: The Accounting Equation
- 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.
- The definitions for the accounting elements are very important.Memorizing definitions can be boring. But it is extremely important that you ensure a solid understanding of these definitions. Throughout the course, you will be expected to be able to identify the accounting elements represented by the accounts used in transactions.
- At the end of this chapter and all subsequent chapters, there is a fully worked-out demonstration problem, which will aid you in completing and understanding your assignments.
LO1–WATCH THIS VIDEO
In-Class Exercise: Complete Exercises E2-1A, E2-1B on pages 42 & 45 with a partner–we will check them together
Homework: Study Guide Review Questions 2, 3, 4, 5, 7 (in the Green Book on page SG 8); End of Chapter Review Question 1, 2 (in your textbook on page 42)