Financial Accounting

Financial Accounting

About this workbook: This workbook contains exercises to accompany the textbook Financial Accounting by Robert Libby, Patricia Libby, and Frank Hodge (9th edition).

This workbook has 5 modules.

1Financial Statements and Business Decisions (Ch. 1)
The accounting equation
The accounting equation
Matching elements to financial statements
Matching financial statement items to financial statement categories
2Investing and Financing Decisions and the Accounting System (Ch. 2)
Income statement transactions
Sell services (T-Accounts)
Sell services (journal entries)
Expenses (T-Accounts)
Expenses (journal entries)
Balance sheet transactions
Introduce capital (journal entries)
Acquire an asset (no depreciation) (journal entries)
Acquire an asset on credit (no depreciation) (journal entries)
Cash management (journal entries)
Short-term loan (journal entries)
Short-term investment (journal entries)
Long-term investment (journal entries)
Long-term loan (journal entries)
3Operating Decisions and the Accounting System (Ch. 3)
Inventory transactions
Purchase goods (journal entries)
Purchase goods on credit (journal entries)
Purchase returns (journal entries)
Sell goods (journal entries)
Sell goods on credit (journal entries)
Sales returns (journal entries)
All transactions
Multiple transactions (T-accounts)
Trial Balance
Extract a trial balance from a list of transactions
4Adjustments, Financial Statements, and the Quality of Earnings (Ch. 4)
Depreciation
Depreciation (straight line) (journal entries)
Depreciation (sum of digits) (journal entries)
Intangible assets
Intangible assets) (journal entries)
Asset disposal
Asset disposal (journal entries)
Accruals
Accruals (journal entries)
Prepayments
Prepayment (asset method) (journal entries)
Unearned revenue
Unearned revenue (journal entries)
5Reporting and Interpreting Sales Revenue, Receivables, and Cash (Ch. 6)
Dubious Debt
Sell goods (dubious debt) (journal entries)
Irretrievable Debt
Sell goods (irretrievable debt) (journal entries)
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