Chapter 2 Part 2 notes

Chapter 2 Part 2 notes - Chapter 2 Part II Business...

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Unformatted text preview: Chapter 2 Part II Business Transactions Analysis Instructor Kenny Zheng AIM 2301 Intro Financial Accounting Lecture Outline Transaction Analysis Debits / Credits 1 Transaction Analysis Transaction Analysis Assets Liabilities Owners Equity Paid in Capital Retained Earnings Net Income Dividends (-) Revenues (+) Expenses (-) + = Revenues, expenses and dividends are components of retained earnings. 2 Transaction Analysis of ABC Co Cash Accounts Receivable Inventories Building Accounts Payable Notes Payable Paid-in Capital Retained Earnings 12/31/2003 Balance Transactions during 2004 1. Issued Stocks 10 @ $6 2. Borrowed $100 on 1/1/04 3. Purchased building for 100 on 1/1/04 4. Purchased inventory on credit for $60 5. Paid supplier $40 6. Company president sold 2 shares of ABC from his personal holding 7. As a favor to the company president, Robert Redford displayed the company logo in his movie 8....
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Chapter 2 Part 2 notes - Chapter 2 Part II Business...

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