Chapter 3

Analyzing Transactions into Debit and Credit Parts

ESSENTIAL QUESTIONS

How can the accounting equation be used to assist in analyzing transactions into their debit and credit parts? How are T accounts used to analyze business transactions? How are transactions to set up a business recorded with T accounts? How are transactions which affect the owner's equity accounts recorded with T accounts? What is the normal balance side of an account?

TERMS FOR CHAPTER 3

- T-account - credit - chart of accounts

- debit - normal balance

ASSIGNMENTS

Using T Accounts How can the accounting equation be used to assist in analyzing transactions into their debit and credit parts? How are T accounts used to analyze business transactions? What is the normal balance side of an account? Read pp. 40-44 1) View Power Point presentation 3-1 2) Complete Application Problem 3-1 p. 58 3) Work on Study Guide 3 September 23 Analyzing How Transactions Affect Accounts Read pp. 45-50 How are transactions to set up a business recorded with T accounts? 1) View Power Point presentation 3-2 2) Complete Application Problem 3-2 pp. 58-59 3) Continue to Work on Study Guide 3 September 24 Analyzing How Transactions Affect Owner's Equity Accounts How are transactions which affect the owner's equity accounts recorded with T accounts? Read pp. 51-57 1) View Power Point presentation 3-3 2) Complete Application Problems 3-3 & 3-4 p. 59 3) Complete Study Guide 3 September 25

Complete Mastery Problem 3-5 p. 60 September 26 Chapter 2 and 3 Review 1) Review Study Guides from both chapters 2) Complete addtional practice exercise 3-1 September 29-30 Additional Chapter exercises Chapter Three Internet Activity Accounting in Your Career p. 41 Applied Communication p. 62 Cases for Critical Thinking p. 62 Complete Case 1 and Case 2. Due October 3 Chapter 3 will be combined with Chapter 2 for testing. The Tentative Test Date for both chapters is Wednesday, October 1. Challenge Problem 3-6 p. 62 may be completed for extra credit - By Oct. 3