Learn Accounting from Scratch
A guided, multi-course journey that builds this skill from the ground up. Work through the chapters in order, or jump to any lesson.
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General Journal Format and the First June EntriesNormal Balances and Account Choice for Common Cash TransactionsEquation Tie-Outs as a Self-Check While JournalizingCustomer Advance Payments and Unearned Revenue in the JournalCompleting the June Journal and Proving Total Debits Equal Total CreditsJune Journal Quality Review: Reversals, Misclassifications, and the Retainer Trap
Accrual vs Deferral Adjustments and the June 30 Adjusting ToolboxUnearned Revenue Adjustment for a Customer RetainerAccrual and Deferral Adjustments for Insurance, Unbilled Revenue, and Utilities PayableStraight-Line Depreciation and Accumulated Depreciation as a Contra-AssetAllowance for Credit Losses Adjustment and Net Accounts ReceivableWrite-Off Preview and the June 30 Adjusted Trial Balance
From Adjusted Trial Balance to the Income StatementThe Statement of Owner’s Equity for a Sole ProprietorshipA Classified Balance Sheet With Contra-AccountsThe Indirect Statement of Cash Flows From Net IncomeCash Reconciliation: Ending Cash Must Match the Balance SheetFour-Statement Linkage Checklist and Full Tie-Out
Temporary vs Permanent Accounts and Closing Revenue and Expenses to Income SummaryClosing Income Summary and Owner’s Drawings to Owner’s Capital and Posting the Closing EntriesThe Post-Closing Trial Balance and July Opening BalancesJuly Journal Entries, Posting, and the Unadjusted Trial BalanceJuly 31 Adjusting Entries and the Adjusted Trial BalancePreparing the July Financial Statements and Cash ReconciliationJuly Closing Entries and the July 31 Post-Closing Trial Balance