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CTE/Business, Finance and Marketing Curriculum 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 3

Classify accounts as assets, liabilities, or owner’s equity.
  • 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.

UEN logo - 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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