CONCEPT MAP
Key Concepts: Key
Vocabulary:
Revenue Sale on Account Expense Withdrawals
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Transactions |
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How Transactions change owner’s Equity in an Accounting Equation |
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Topic: Changes
that Affect Owners Equity |
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Examples:
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Received cash from sales |
Sold services on Account |
Paid cash for expenses |
Received cash on account |
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Paid cash to owner
for personal use |
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Enduring Understanding (s): Many transactions involved in the daily operations of a business increase or decrease owners equity. _________________________________________________
Essential Question (s): Why is detailed information about changes in owners equity needed by managers and owners? _______________________________________________________
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