Online Accounting Course Simple Studies

Accounting Exercises

Accounting exercises (assignments) will help you better understand accounting principles and terms covered in accounting lectures. Accounting exercises play an important role in studying because they give you an opportunity to apply knowledge gained while reading accounting lectures. There are several (two to three) accounting exercises to each accounting lesson.

Accounting Exercises
Exercise 1.1 Recording events under the accounting equation. Introduction to Accounting
Exercise 1.2 Identifying transaction type and effects on total assets.
Exercise 2.1 Recording events under the accounting equation and preparing simple financial statements. Accounting for Accruals
Exercise 2.2 Identifying transaction type and using horizontal financial statements model.
Exercise 3.1 Using horizontal statements model. Accounting for Deferrals
Exercise 3.2 Identifying financial statement elements.
Exercise 3.3 Using the accounting equation to show effects of entries and adjusting entries.
Exercise 4.1 Describing transactions based on a journal entry and using horizontal financial statements model.

Double-entry Accounting System
Exercise 4.2 Preparing journal entries, posting them to T-accounts, preparing financial statements, and making closing entries.
Exercise 5.1 Recording transactions in the general journal and posting amounts to T-accounts. Accounting in Merchandising Companies
Exercise 5.2 Recording transactions in the general journal, creating a schedule of the cost of goods sold, and posting amounts to T-accounts.
Exercise 6.1 Preparing journal entries and T-accounts. Accounting for Advanced Accruals
Exercise 6.2 Preparing journal entries.
Exercise 6.3 Preparing journal entries and T-accounts.
Exercise 7.1 Determining the cost of goods sold under LIFO, FIFO, and weighted-average, computing net income and income tax, and building financial statements. Accounting for Inventories
Exercise 7.2 Calculating the cost of goods sold, ending inventory, and net income under FIFO and LIFO cost flow methods.
Exercise 7.3 Determining lower of cost or market and recording journal entries.
Exercise 8.1 Calculating depreciation expense under different methods and making journal entries. Accounting for Long-term Assets
Exercise 8.2 Determining depletion expense and recording journal entries.