Day 2

After completing Lesson 1-1, you will be able to:

  • Define accounting terms related to starting a service business organized as a proprietorship and to changes that affect the accounting equation.
  • Identify accounting concepts and practices related to starting a service business organized as a proprietorship and to changes that affect the accounting equation. 

Chapter 1 Folder

  1. Inside of your Part 1 folder, create a new folder titled Chapter 1.  All your tasks completed in Chapter 1 should be stored in this folder.

Notes 1-1

  1. Obtain a Notes 1-1 handout from your instructor and record your notes through the presentation.  You can also view the presentation here.

Working Together 1-1

  1. Make a copy of this spreadsheet.
  2. Place this file in your Chapter 1 folder.
  3. Rename the file to Lesson 1-1-(Your Intials)
  4. Complete the spreadsheet according to the directions on page 9 of your textbook.

On Your Own 1-1

  1. Using your Lesson 1-1 spreadsheet, click on the On Your Own 1-1 sheet at the bottom left, and complete the problem as directed on page 9 of your textbook.

Self-Assessment 1-1

  1. Complete this self-assessment for Lesson 1-1.  You can use your textbook and notes to complete this assessment.  

Lesson 1-1 Assignment

  1. Using your Lesson 1-1 spreadsheet, click on the Application Problem 1-1 sheet at the bottom left, and complete the problem as directed on page 19 of your textbook.