#### 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

- 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

- 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

- Make a copy of this spreadsheet.
- Place this file in your Chapter 1 folder.
- Rename the file to
**Lesson 1-1-(Your Intials)** - Complete the spreadsheet according to the directions below.
- For each line, fill in the missing amount to complete the accounting equation.Type in the answers to the following problem in the Working Papers. Your instructor will guide you through the following example.

#### On Your Own 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 below.

Type in the answers to the following problem in the Working Papers. Work these problems independently.

- For each line, fill in the missing amount to complete the accounting equation.

#### Self-Assessment 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

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

For each line, fill in the missing amount to complete the accounting equation. Use the form in your Working Papers to complete this problem.