ACCOUNTING CH 1

OBJECTIVES

• Define accounting terms related to starting a service business organized as a proprietorship.
• Identify accounting concepts and practices related to starting a service business organized as a proprietorship.
• Classify accounts as assets, liabilities, or owner's equity and demonstrate their relationships in the accounting equation.
• Analyze how transactions related to starting a service business organized as a proprietorship affect accounts in an accounting equation.
• Prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation.

Challenge Problem

NOTES CH 1

ROC

1.1 WT

1.1 OYO

1.1 APPLICATION

1.2 APPLICATION

1.3 APPLICATION

1.2 WT

1.2 OYO

1.3 WT

OYO BALANCE SHEET

1.5 APPLICATION