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Accounting Equation Basics

This lesson plan is for an accounting class that will take place on August 27, 2023 from 6-9PM. The teacher is Glenn Dauver S Naraga. The lesson will discuss the accounting equation, its fundamentals and components. Students will work in groups to solve practice problems applying the accounting equation. Their understanding will be assessed through a 10 question quiz covering definitions and applications of assets, liabilities, owner's equity, debits, and credits as they relate to the accounting equation.

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Nick Peril
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144 views2 pages

Accounting Equation Basics

This lesson plan is for an accounting class that will take place on August 27, 2023 from 6-9PM. The teacher is Glenn Dauver S Naraga. The lesson will discuss the accounting equation, its fundamentals and components. Students will work in groups to solve practice problems applying the accounting equation. Their understanding will be assessed through a 10 question quiz covering definitions and applications of assets, liabilities, owner's equity, debits, and credits as they relate to the accounting equation.

Uploaded by

Nick Peril
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

LESSON PLAN IN ACCTG101

DATE: AUGUST 27, 2023


TIME: 6:00PM – 9:00PM
TEACHER: GLENN DAUVER S NARAGA

I. LEARNING OBJECTIVES

At the end of the lesson the students can:

LO1 discuss the fundamental of accounting equation and the components


LO2 show interest on the value and importance of accounting equation for personal
use
LO3 solve problem applying the accounting equation

II. LEARNING CONTENT AND RESOURCES


Topic : The Accounting Equation
Reference : Accounting concepts, Procedure and Application By: Dr Alfonso Balagtas
Piscasio pages 24 to 38
Materials : Power Point Presentation

III. LEARNING ACTIVITIES


Greetings
T : Greet the students S : Respond
Prayers
T : Lead the prayer S : Stand up
Give motivation
T : Show the scale of justice to the students and discuss the relationship of it
to accounting equation
Discussion
T : Discuss what is accounting equation, the fundamentals, components and
how to use it in our daily lives. Do question and answer with the students
by asking them the definition of asset, liability, owner’s equity, debit and
credit
S : Respond correctly
Application
T : Ask the students to group themselves into 5 for group activity and give
one situational problem per group
S : Answer the problem correctly
Generalization
T : Select three students to summarize the lesson and give reflection
S1:Respond correctly
S2:Respond correctly
S3:Respond correctly
T : Very good!

IV. ASSESSMENT AND LEARNING


T : Give ten items quiz on accounting equation
1.) What is an asset 8.) After making a sale of Php 3,000.00, where
a.) Something owed Php 1,200.00 is paid cash and Php 1,800.00
b.) Something owned is sold credit, how would a company go
c.) Investment in the business about updating its balance sheet
d.) Business net worth Dr. Cr.
2.) A liability is a.) Account Receivable 1,800.00
a.) Something owed Retained Earnings 3,000.00
b.) Something owned Cash 1,200.00
c.) Investment in the business b.) Retained Earning 3,000.00
d.) Business net worth Cash 1,200.00
3.) Another word for capital is Accounting Receivable 1,800.00
a.) Investment c.) Account Payable 1,800.00
b.) Net worth Cash 1,200.00
c.) Owner’s equity Retained Earnings 3,000.00
d.) All of the above d.) Cash 1,200.00
4.) Cash is Accounts payable 1,800.00
a.) An asset Retained Earnings 3,000.00
b.) A liability 9.) Which side of the ledger accountare debits
c.) Capital recorded on
d.) None of the above a.) Left
5.) The accounting equation is b.) Right
a.) Asset + Liabilities = Capital c.) Depends on the debit
b.) Asset = Liabilities + Capital 10.) In a journal entry, a debit decreases which
c.) Liabilities – Capital = Asset of the following accounts
d.) None of the above a.) Cash
6.) A beginning business has a cash balance of b.) Accounts Payable
Php 5,500.00. They owe no money. What is c.) Supplies Expense
their investment in the business ? d.) Both a and c
a.) 0
b.) Php 2,250.00 ANSWER
c.) Php 5,500.00 1. b 6. c
d.) None of the above 2. a 7. b
7.) Increasing an asset involves crediting the 3. d 8. a
account 4. a 9. a
a.) True 5. b 10. b
b.) False

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