Accounting & Exam Prep Hub

Compare cash basis and accrual basis accounting with a three-month example, balance-sheet effects, modified cash basis, and explained practice questions.

Follow a small company from owner investment to revenue, expenses, and dividends. See why the accounting equation stays balanced and how equity connects the financial statements.

Prepare accrual adjusting entries for earned revenue, unpaid wages, and interest. Learn the calculations, later cash entries, and common mistakes.

Understand debit and credit rules before memorizing entries. Use the normal-balance table, follow original transaction examples, and practice identifying common recording errors.

Learn the four types of adjusting entries with simple examples, debit and credit rules, depreciation, bad debts, and common period-end mistakes.

Understand deferral adjusting entries for supplies, prepaid insurance, and unearned revenue with worked examples and explained practice questions.

Understand closing entries in four steps. Practice revenue, expense, Income Summary, and dividend entries with a complete retained earnings example.

Prepare an unadjusted trial balance using an original service-company case. Learn where balances belong, why equal totals do not prove accuracy, and how to investigate errors.

Preparing financial statements made simple: follow a worked adjusted trial balance example, connect the three statements, and practice with explained answers.

Follow an original service-company case from balanced journal entries to ledger balances. Compare the journal, general ledger, and chart of accounts, with explained practice questions.