UNDERSTANDING JOURNAL ENTRIES

Understand the Direction
Do not be in a hurry to record Journal Entries. 
Read the directions carefully. Be sure to underline the important dates, amounts, and problem  requirements.

Understand Business Activity
Accounting transactions describe a business activity. 
To record this activity you must understand it thoroughly. 
State the given data and do the math calculations.
 If an earlier Journal Entry is involved,
make it part of your analysis. 

Helpful Organize Information
Try to arrange data in an organized fashion.
Summarize data in balance sheet arranged T accounts.
Show formulas and mathematical steps. 

Recording Steps
Record the finances choosing one or more cash, receivable, payable, Record why the financing occurred when necessary assets purchased or revenue earned expenses incurred). Make sure debits equal credits.

Journal Entries  

Debit, Credit Tricks Video  

Recording the Accounting Cycle 

Accounting Cycle Extended Review

Account Cycle Extended Review

Accounting Principles   

Time Value of Money and Example 2  

One- Page Accounting

Practice Set With Answers

Speedy Ironing Service  

Linda's Video Showcase  

Linda's Showcase Expands

Present Value and its Uses

Tests with Answers

The Accounting Equation

Accounting for Assets

Equity Financing of Assets

Liability Financing of Asset

Analyzing Accounting Information