transaction story assignment:

based on the transactions story "performed services for cash"

a) come up with a 1 to 2 sentence to scripting describing the event (what did you purchase, how did you purchase it, etc.)

b) draw a picture or use graphics of the event showing what happened

c) Show the transaction using T-accounts so that someone less experienced in accounting can follow along with debits/credits and +/-

d) show the transaction using a journal entry. Make sure that it is clearly labeled and professional in appearance

Transaction Story Assignment Purpose: The purpose of this assignment is to build your new accounting language by creating a detailed story and example to teach others how to record a business transaction using the accounting language. Task: You will be given an accounting transaction to story tell. This should take you 20- 30 minutes of time to complete. a) Come up with a 1-2 sentence descripting describing the event (what did you purchase, how did you purchase it, etc.). b) Draw a picture or use graphics (or pictures) of the event showing what happened. c) Show the transaction using T-Accounts. Make sure to properly label your T- Account so that someone less experienced in accounting can follow along with debits/credits and +/-. d) Show the transaction using a journal entry. Make sure that it is clearly labeled and professional in appearance