Get into your Groups for monopoly accounting
record T charts for each transaction
create two Ts for each transaction
Label the top of the T with the account title
Show whether the dollar amount goes on the debit or credit side
Be able to classify all accounts as asset, liability, OE, expense and revenue
A=L+OE (Balance Sheet)
Be able to journalize transactions debit side and credit side and add up amounts
Understand the Chart of Ac
Balance Sheet Review
1. What are the five steps to create a balance sheet?
2. Define the following: Make sure to say if it is an asset, liability or
owners equity with your definition.
Property plant and equipment
Accounting in the Real World
Ben and Jerrys
1. List three reasons why Ben and Jerrys pays more than the current minimum wage rate to its
2. Go to www.benjerry.com and find two additional ways that the company is socially and
Comparing Financial Statements-Please type out this activity in Microsoft Word
or Google Docs
1. Select three companies within the same industry (example: Coca-Cola,
Pepsi and Dr. Pepper/Snapple)
2. Go to the homepage of each company
3. Search its site fo
Accounting Chapter One
1. What is accounting?
2. Give 5 examples of a service business.
3. How is a partnership different from a proprietorship?
4. State the accounting equation.
5. State the equation for Net Worth
6. If you owned a coffee shop name 5 thi
Accounting for a Service Business Organized as a
Proprietorship - Chapter 3Analyzing Transactions into Debit and Credit Parts
Near the end of the first quarter, Julie tells her teacher that she feels like shes
understanding the accounting equation, how to
Preparing a Balance Sheet
5 Easy Steps
Assets=Liabilities + Owners Equity
A balance sheet shows what the business owns
(assets), owes (liabilities), and is worth on a
The balance sheet is a financial statement that