Accounting Practice Review Problems
These review problems are designed to give you some practice in applying the concepts covered in the course tutorial notes. All of the problems were developed by Bill Curry. Links to the appropriate anwser key are provided at the end of each problem. Additional problems will be added as they are completed.
* - denotes newly added/updated files
Problem 1 - Accounting as an Information System
Problem 2 - Transaction Analysis, General Journal, Ledger Accounts, and Trial Balance
Problem 3 - Adjusting Entries, T Accounts, and Adjusted Trial Balance
Problem 4 - Preparation of a Worksheet, Financial Statements, Adjusting Entries, and Closing Entries
Problem 5 - Methods of Recording Purchases and Sales
Problem 6 - Purchases Journal
Problem 7 - Bank Reconciliation
Problem 8 - Analyzing Liquidity and Profitability
Problem 9 - Short-Term Liquid Assets