Owner withdrawals - PowerPoint PPT Presentation

Analyzing Transactions

Analyzing Transactions. Chapter 2. Learning Objectives. Describe the characteristics of an account and a chart of accounts. Describe and illustrate journalizing transactions using the double-entry accounting system.

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1.54k views • 104 slides

Review of the Accounting Process

Review of the Accounting Process. Chapter 2. + Owner Investments. - Owner Withdrawals. + Revenues + Gains. - Expenses - Losses. The Accounting Equation. A = L + OE. Accounting Equation for a Corporation. A = L + SE. + Paid-in Capital. + Retained Earnings. + Revenues + Gains.

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1.02k views • 40 slides

ACCOUNTING 101

ACCOUNTING 101. CHAPTER ONE: Asset, Liability, Owner’s Equity,Revenue, and Expense Accounts. The Fundamental Accounting Equation. Assets=Liabilities+Owner’s Equity The three major classifications ALOE, the memory tool. ASSETS. Property or things of value owned by an economic unit CASH

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2.99k views • 25 slides

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