Module 1: The accounting equation
Assets, liabilities, and equity, and how every transaction keeps them in balance.
1. What bookkeeping is and why it balances
Bookkeeping records every business transaction so owners can see what they own, owe, and earn. Learn the idea that keeps the books in balance.
About 6 minutes · 3 practice sets · Free
2. How transactions affect the equation
Practice deciding how each transaction changes assets, liabilities, and equity — the skill underneath every journal entry.
About 8 minutes · 6 practice sets · Free
3. Prepayments, advances, and accruals in the equation
See how prepaid costs, customer advances, and accrued expenses affect the accounting equation before money changes hands.
About 8 minutes · 6 practice sets · Free
4. Accounting equation mixed practice
Mixed practice on transaction effects, including notes payable, earning previously unearned revenue, and paying accrued liabilities.
About 8 minutes · 5 practice sets · Pro practice