Chapter 3 — Analyzing and Recording Transactions

Chapter Outline

  • LO 3.1 Describe Principles, Assumptions, and Concepts of Accounting and Their Relationship to Financial
    Statements
  • LO 3.2 Define and Describe the Expanded Accounting Equation and Its Relationship to Analyzing
    Transactions
  • LO 3.3 Define and Describe the Initial Steps in the Accounting Cycle
  • LO 3.4 Analyze Business Transactions Using the Accounting Equation and Show the Impact of Business
    Transactions on Financial Statements
  • LO 3.5 Use Journal Entries to Record Transactions and Post to T-Accounts
  • LO 3.6 Prepare a Trial Balance

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