LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation
REVENUE TRANSACTIONS <ul><li>Transaction 6  August 12. Received cash from sales, $295.00. </li></ul>LESSON  1-3 Transactio...
EXPENSE TRANSACTIONS <ul><li>Transaction 8  August 12. Paid cash for rent, $300.00. </li></ul>LESSON  1-3 Transaction 9  A...
OTHER CASH TRANSACTIONS <ul><li>Transaction 10  August 12. Received cash on account from Oakdale School, $200.00. </li></u...
TERMS REVIEW <ul><li>revenue </li></ul><ul><li>sale on account </li></ul><ul><li>expense </li></ul><ul><li>withdrawals </l...
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Lesson01 3g

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  • Lesson 1-3 09/01/10
  • Lesson 1-3 09/01/10
  • Lesson01 3g

    1. 1. LESSON 1-3 How Transactions Change Owner’s Equity in an Accounting Equation
    2. 2. REVENUE TRANSACTIONS <ul><li>Transaction 6 August 12. Received cash from sales, $295.00. </li></ul>LESSON 1-3 Transaction 7 August 12. Sold services on account to Oakdale School, $350.00. page 14
    3. 3. EXPENSE TRANSACTIONS <ul><li>Transaction 8 August 12. Paid cash for rent, $300.00. </li></ul>LESSON 1-3 Transaction 9 August 12. Paid cash for telephone bill, $40.00. page 15
    4. 4. OTHER CASH TRANSACTIONS <ul><li>Transaction 10 August 12. Received cash on account from Oakdale School, $200.00. </li></ul>LESSON 1-3 Transaction 11 August 12. Paid cash to owner for personal use, $125.00. page 16
    5. 5. TERMS REVIEW <ul><li>revenue </li></ul><ul><li>sale on account </li></ul><ul><li>expense </li></ul><ul><li>withdrawals </li></ul>LESSON 1-3 page 17

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