Learners read about the purposes of balance sheets and income statements and then place accounts into these two financial statement categories in a drag-and-drop exercise.
In this accounting learning object, students follow the steps involved in the closing process. Temporary accounts contain ending balances for a specified period and must be closed.
Learners examine the accounting equation and classify accounts into the appropriate categories in drag-and-drop exercises.
Learners read an explanation of the debits and credits of accounting as they relate to T accounts and the accounting equation. Illustrated examples are provided.
Learners read the definitions of working capital, current ratio, quick ratio, return on equity, accounts receivable turnover, and inventory turnover.