Accounting Student Study Workbook: Journal Entries, Trial Balance, Statements and Ratios

Who it is for

Students in a first accounting or small-business finance course, and self-learners.

Not the right fit if

You need closing entries or corporate and partnership accounting: this covers a simple sole proprietorship only.

Why it is different

• Everything flows from the journal, so you see how one entry changes every statement.
• Practice problems have an answer key on a separate tab and show which accounts match.
• A filled example for an invented business and a blank copy with all formulas working.

What is inside

• Start Here. How to study with it and the debit and credit rule in a few lines.
• Chart of Accounts. About forty accounts with type, normal balance and a plain description.
• Journal. Up to 200 lines with a check that each entry balances.
• Ledger. Totals and ending balance for each account.
• Trial Balance. Built from the journal, with a tie-out.
• Statements. Income statement, owner's equity and balance sheet.
• Ratios. Current ratio, margins, returns and turnover, each with a plain-English explanation.
• Practice Set. Three short practice problems with answer boxes.
• Answer Key. Correct entries and totals on a separate sheet.
• Adjusting Entries Guide. Accruals, prepaid expenses and depreciation with examples.
• Depreciation. Straight-line and double-declining schedules with a chart.
• Cheat Sheet. A one-page summary of the equation, debit and credit table and ratio formulas.
• Checks. Flags entries that do not balance and statements that do not tie.