Accounting 1
Lesson Plans

Strand 2

Students will identify the three basic accounting equation elements, apply them to accounts, and use them in the accounting equation.

Standard 2

Demonstrate an understanding of the fundamental accounting equation.

• Accounting -- Changes That Affect Owner's Equity
  Introduction of transactions that affect the owner's equity of a proprietorship. Introduction of revenue from sales, how sales affects owner's equity. Introduction of the different expenses for a proprietorship, how paying for expenses affects owner's equity. Introduction of the owner's drawing account for a proprietorship, why an owner might use the drawing account and how withdrawing money for personal use of the owner affects owner's equity.

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http://www.uen.org - in partnership with Utah State Board of Education (USBE) and Utah System of Higher Education (USHE).  Send questions or comments to USBE Specialist - Racheal  Routt and see the CTE/Business, Finance and Marketing website. For general questions about Utah's Core Standards contact the Director - THALEA  LONGHURST.

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