Chapter One The Accounting Equation and Double-entry Bookkeeping I. Learning objectives After completing this session‚ students should be able to (1) Define assets‚ liabilities‚ owner’s equity‚ revenue and expenses; (2) Understand the functions of the fundamental accounting equation; (3) Record business transactions and illustrate their effects on the fundamental accounting equation; (4) Understand the accounts payable‚ accounts receivable‚ prepaid insurance‚ and drawing accounts;
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------------------------------------------------- DOUBLE-ENTRY RESEARCH NOTES TEMPLATE ------------------------------------------------- ------------------------------------------------- 1. Research Question(s): Before you start doing online/library research‚ it’s a good idea to remind yourself of your research goals by answering these questions and then using them to guide your research: ------------------------------------------------- * -------------------------------------------------
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Dairy Entries Dairy Entry 1 – Explain where in the past you travelled to 28/02/24 Dear Diary. My name is Professor Sharon Jung and I am the first person in the WORLD to travel through time. I have been studying Ancient Greece for some time and I have been waiting for this moment for AGES. With all my courage‚ I took a deep breath and stepped into the time machine. 448 BCE As soon as I stepped out of the time machine‚ it was as if I was walking into a whole new world. Loud‚ busy and dirty. The streets
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Journal Entry: Summary Rick Dadier‚ a war veteran is hired to teach at North Manual High School. This is his first teaching assignment‚ so he can support himself and his pregnant wife. Dadier learns quickly that the school has a severe discipline problem‚ and the established teachers advise him how to deal with the students. Regardless‚ Dadier tries to discipline the class and this provokes a violent response in which Dadier is ambushed by a group of students. Dadier then goes to seek advice from
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Eoin Fitzsimons Humanities 1 Double Entry Journal 12/3/2014 “In 1947 the British left‚ but only a moron would think that we became free then.” (Adiga 18). The above quote is from White Tiger by Aravind Adiga. The speaker‚ Balram Halwai aka White Tiger is a self made man out of the so called darkness of India. He goes from working in a tea shop to working as a driver and after a few bad decisions becomes a self proclaimed entrepreneur. In his time period‚ India’s government is corrupt. Officials
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Practice 2-1 (Solution) Complete the matrix by entering either debit or credit in each cell: Items | Increases | Decreases | Assets | Debit | Credit | Liabilities | Credit | Debit | Owner’s Equity | Credit | Debit | Revenues | Credit | Debit | Expenses | Debit | Credit | Practice 2-2 (Solution) State whether the following have debit balances or credit balances: a.) Accounts Payable- Credit balance b.) Salary Expense- Debit balance c.) Notes Receivable- Debit balance d.) Mr
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Nicholas Gangone Ms. Sottas Double Entry Journal Prompts March 20‚ 2013 “But men remembered little of all that‚ though some still sang old songs of the dwarf-kings of the Mountain‚ Thror and Dragon‚ and the fall of the lords of Dale.” (Tolkien 176) “I hope I never smell the smell of apples again.” (Tolkien 179) “But the Master was not sorry at all to let them go. They were expensive to keep‚ and their arrival had turned things into a long holiday in which business was a standstill.” (Tolkien
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to the lesson delivery‚ I believe it will help the flow and also create a more meaningful discussion. | Minimize time-consuming activities‚ such as giving directions and organizing the class for instruction‚ by writing the daily schedule on the board. This will ensure that pupils know where to go and what to do. (Pg.13) | I love a class that is well organized where I knew the moment I sat down what we were going to do that day. I cannot lie though; it did create a sense of knowing how fast I would
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INTRODUCTION As we know that‚ double-entry bookkeeping system is established by Luca Pacioli. Without double-entry bookkeeping system‚ we cannot analyse the financial status of a business. ACCOUNTING EQUATION The foundation accounting equation is the relationship between assets‚ liabilities‚ and equity. It is a basic accounting equation used to balance all of the businesses account (Wikipedia 2017). For example‚ the double-entry bookkeeping system is a famous system in the accounting world. Most
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“From the toolbox the boy took out‚ of all things‚ a teddy bear. He reached in through the torn windshield and placed it on the pilot’s chest.”“The book thief has struck for the first time – the beginning of an illustrious career.”“Then they discovered she couldn’t read or write.”“Unofficially‚ it was called the midnight class‚ even though it commenced at around two in the morning. ““The last time I saw her was red. The sky was like soup‚ boiling and stirring. In some places it was burned. There
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