Account Balances and Terminology

Debit and Credit rules
Discussion: the Double Entry System of Accounting

Additional Practice and Review:

Prepare your Accounting ID Card (Rules of Debit and Credit Page 93 on the back)
Read 88-90 and 92-101 Review Questions 1-7
Page 90 Review Questions 1-12 Exercises 1-4 Page 103

Calculating the Balance of an Account

  • What is an Exceptional account balance?
  • What is the Bank Account?
  • Buying and selling on credit

Additional Practice and Review

Read 105-109

Review Questions 1-10 (Page 110), Exercise 4 (Page 105)