Acct 201--- 08/18/2014 4pm -6:15 pm

went over in class
	requirements of the class
		livestream
			students must text to get counted as in attendance
			must turn in a 3 page summary of the lecture to be turned in by the next class

	syllabus

	livetext

	moodle
		assignments and tests on moodle


	What is accounting?


	What are accounting names you know?


	Role of Ethics in Accounting and Business


	Accounting can be management butmanagement isn't always accounting



	cost concept
		you post the purchase price

		****no one had a dollar bill on them***
			a 50 euro was brought out
				50 Euro equals 66.81 US Dollar
				no dead presidents or officials on a euro
			20 pound was brought out
				20 British Pound Sterling equals 33.46 US Dollar
			1USD
				BACK SIDE
					Eagle
						13 olive branches
							symbol of peace
						13 stars
							13 orig colonies
						13 arrows
							sign of war
						tailfeathers
							9 total for supreme court justices
						Shield

					Pyramid
						symbol for material things
						unfinished
						eternal light of god above the pyramid to signify spuritual beliefs above material stuff
						Novus ordo seclorum (Latin for "New order of the ages")
					In God We Trust
						committies working to get this removed
				Front
					President

					numerals in 4 corners is also the location of the Letter in the seal corresponding with the mint it was printed at

	***someone's cell ringtone is Happy***


	Accounting Equation
		Assets = Liabilities + Owner's Equity (A=L+OE)
			assets are things you own but still owe on
				car purchase
					15000(cost) = L +1000 (down payment)

	T accounts





	ownership




**biggest oil company**
	exxon?

	biggest car industry
	 gm?
biggest retailer
	walmart
biggest tire
	GY
software maker
	MS
hardware maker
	amd
of these which is largest?
	MS

**10 min break




	Financial Statements
		income statement

		Statement of OE

		Balance Sheet


EX 1-1 Types of businesses
	1. aluminium wheels--manufact
	2. manufacturing
	3. service/manufacturing
	3. finance/service
	4. retail/pharmacy
	6. manufacturing
	7, service
	8. service/shipping
	9. manufacturing
	10. retail
	11. service
	12. hotel
	13. manufacturing
	14. finance/service
	15. retail

EX 1-6 Accounting Equation
	a $456,100
	b $355,010
	c $2,072,200

EX 1-19 Income Statement

	$1,100,000-$715,000-$80,000-$9,000-$12,000=$284,000

EX 1-21 Balance Sheets, Net income

	Feb $840,000

	mar $975,000

	diff $135,000 income increased

	if owe is dropped 50k then diff is 185k

EX 1-20
	a. 390,000

EVEN exercises