Equity Transactions and Accounting Principles

Key Questions to Focus on:

How do Revenue, Expenses and Drawing effect the Owner’s Equity?

Which Accounting Principles are critical to these new accounts?

Additional Practice and Review:

Review Questions 1-9 Page 156

Exercises 1-3 Page 157-158

Review Assignment submit when you return:

Comp. Exercise 7 Page 167 for submission – you can work together in groups of three and submit one per group