Manual
Practice Sets
The practice set Includes step-by-step instructions, realistic source documents, and the following workpapers: the six journals, the general ledger, bank reconciliation, trial Balance, balance sheet, income statement, and financial ratios. Solutions included.
Set up a new set of books for a small business: record first month’s transactions into journals; post to the general ledger; reconcile the bank account; prepare the trial balance, financial statements and ratios.
Suggested prerequisites:
- 10-Key skills
- Knowledge of the accounting equation and accrual accounting.
- Debits and credits.
- Bank reconciliations.
- Financial statements.
- Financial ratios.
Manual Practice Sets
JS Landscaping Company
A beginning manual practice set for a new small business with 37 business transactions in its first month of operations. Company has no inventory, cost of goods sold, or sales tax. Includes step-by-step instructions, colorful source documents, six manual journals, and a 30+ page general ledger. Workpapers include: trial balance, bank statement, bank reconciliation, balance sheet, income statement, and ratio analysis worksheet.
Anderson Law Firm
A beginning manual practice set for a new small business with 36 business transactions in its first month of operations. Company has no inventory, cost of goods sold, or sales tax. Includes step-by-step instructions, colorful source documents, six manual journals, and a 30+ page general ledger. Workpapers include: trial balance, bank statement, bank reconciliation, balance sheet, income statement, and ratio analysis worksheet.
Freedom Furniture
An intermediate manual practice set for a new small business with 47 business transactions in its first month of operations, including inventory, cost of goods sold, and sales tax. Includes step-by-step instructions, colorful source documents, six manual journals, and a 30+ page general ledger. Workpapers include: trial balance, bank statement, bank reconciliation, balance sheet, income statement, and ratio analysis worksheet.
Betty’s Bakery
An intermediate manual practice set for a new small business with 64 business transactions in its first month of operations, including Inventory, cost of goods sold, and sales tax. Includes step-by-step instructions, colorful source documents, six manual journals, and a 30+ page general ledger. Workpapers include: trial balance, bank statement, bank reconciliation, balance sheet, income statement, and ratio analysis worksheet.
Cricket Club Men’s Store
An intermediate manual practice set for a new small business with 45 business transactions in its first month of operations, including Inventory, cost of goods sold, and sales tax. Includes step-by-step instructions, colorful source documents, six manual journals, and a 30+ page general ledger. Workpapers include: trial balance, bank statement, bank reconciliation, balance sheet, income statement, and ratio analysis worksheet.
