This app will give students who are taking the first accounting course practice recording journal entries. Then, they will be able to see how those entries are posted to T-accounts and how the information flows to the four financial statements. It’s also a great way for a professor to demonstrate these concepts in class.
Using a problem from a course or a textbook, you’ll select the accounts and amounts for the problem’s journal entries. Debits must always equal credits, or the app will stop you from recording the entry. After the transactions are recorded, you’ll be able to see the resulting trial balance, details of each T-account with the transactions labeled, and each of the four basic financial statements.
This is a great tool for helping students see the relationships between journal entries, accounts, and the financial statements.