Intro to Accounting Notes by Taylor Jackson https://padlet.com/8563390/ITAN For computer class or whatever en-us 2016-10-13 17:47:29 UTC 2016-10-14 18:09:53 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Diskette.png What is Accounting 8563390 https://padlet.com/8563390/ITAN/wish/130545442 -Accounting is a method of reporting financial activity of a business
-Financial transactions recorded in an orderly way]]> 2016-10-13 17:49:33 UTC https://padlet.com/8563390/ITAN/wish/130545442 Components of Accounting 8563390 https://padlet.com/8563390/ITAN/wish/130546025 -Assets
-Liabilities
-Owner's Equity

]]> 2016-10-13 17:50:49 UTC https://padlet.com/8563390/ITAN/wish/130546025 Assets 8563390 https://padlet.com/8563390/ITAN/wish/130546433 [Anything owned by a company or business]
Ex:
-company cars
-office furniture
-office equipment
-cash
-office supplies
-real estate]]> 2016-10-13 17:51:37 UTC https://padlet.com/8563390/ITAN/wish/130546433 Liabilities 8563390 https://padlet.com/8563390/ITAN/wish/130547300 Liabilities are money owed by the business.
Ex:
-Accounts Payable
-Mortgage Payable
-Bills
-Taxes Due
-Utilities Corporation
-Office Supply Store]]> 2016-10-13 17:53:40 UTC https://padlet.com/8563390/ITAN/wish/130547300 Owner's Equity 8563390 https://padlet.com/8563390/ITAN/wish/130548729 -Net worth of the business]]> 2016-10-13 17:56:33 UTC https://padlet.com/8563390/ITAN/wish/130548729 Financial Statements 8563390 https://padlet.com/8563390/ITAN/wish/130549619 Balance Sheet: reports assets, liabilities, and owner's equity on a certain date
Assets: anything of value that is owned by the business
Owner's Equity: Net worth of the business]]> 2016-10-13 17:58:34 UTC https://padlet.com/8563390/ITAN/wish/130549619 Accounting Equation 8563390 https://padlet.com/8563390/ITAN/wish/130550338 Assets=Liabilities + Owner's Equity]]> 2016-10-13 18:00:16 UTC https://padlet.com/8563390/ITAN/wish/130550338