Accounting 1
Lesson Plans

Strand 3

Students will explain the process of analyzing transactions using double-entry accounting and determine debit(s) and credit(s).

Standard 3

Explain how to use T-accounts as a tool to analyze business transactions into debit(s) and credit(s).

• Accounting-Analyzing Transactions to Debit/Credit Parts
  Introduction of how transactions are analyzed in T accounts with debits and credits. How different accounts increase with a debit and decrease with a credit, as well as some decrease with a debit and increase with a credit. Analyze each of the following transactions discussed so far: receiving cash from the owner of a proprietorship as an investment, paying cash for supplies, paying cash for insurance, buying supplies on account, paying cash on an account, receiving cash from sales, paying cash for an expense, paying cash to an owner of a proprietorship for personal use.

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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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