Section 1 – The Accounting Equation

Lecture 1
The Basics

WHAT = WHO

The Formal Accounting Equation:

.

Lecture 2 Example 1 – Let’s Buy a Tractor(Equipment) Background: We purchase a Tractor for $20.000.000 in cash.000 by getting a loan from a bank and the remaining $5. WHAT = WHO = . We paid $15.

000 in cash.000 by getting a loan from a bank and the remaining $3. Write out the accounting equation for the above transaction: . We paid $27.000. Lecture 3 Example 2 – Let’s Buy a Vehicle(Equipment) Background: We purchase a Vehicle for $30.

Lecture 4 Understanding Accounts Types of Asset Accounts: Types of Liability Accounts: Types of Owner’s Equity Accounts: The Accounting Equation: .