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College Accounting
John Price, University of North Texas
M. David Haddock, Chattanooga State Technical Comm. College
Horace Brock, University of North Texas
Connie Hahn, Southern Alberta Institute of Technology
Traven Reed, Canadore College
Analyzing Business Transactions

Learning Objectives

Define, identify, and understand the relationship between asset, liability, and owner's equity accounts.

State the accounting equation.

Analyze the effects of business transactions on a firm's assets, liabilities, and owner's equity and record these effects in accounting equation form.

Prepare an income statement.

Prepare a statement of owner's equity.

Prepare a balance sheet.

Calculate simple return on investment.




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