8-Column Worksheet: Adjustments & Statements

Activity Description

This interactive 8-column worksheet activity teaches students to manage adjustments and financial reporting, with unique, randomized transaction amounts for each student. The auto-graded worksheet provides immediate feedback to reinforce learning. Here’s what students will do and learn:

Work Through Structured Steps:

1. Receive Trial Balance & Adjusting Entries: Students start with a given trial balance and a list of required adjusting entries to apply.
2. Make Adjusting Entries: Students input adjusting entries, such as for accrued expenses, unearned revenue, and depreciation, to update account balances.
3. Prepare the Income Statement: Using the adjusted figures, students create an income statement, practicing the organization and analysis of revenues and expenses.
4. Create the Balance Sheet: Finally, students prepare a balance sheet, reinforcing their skills in calculating and presenting assets, liabilities, and equity.

• Engage with Randomized Content: Transaction amounts are unique for each student, encouraging independent problem-solving and preventing copying.
• Benefit from Auto-Grading: The worksheet is auto-graded, allowing students to receive instant feedback and make corrections as they progress.

This activity supports individualized learning, giving students hands-on experience in key accounting processes that enhance their ability to analyze and report financial information accurately.

Learning Objective

Students will use the 8-column worksheet to create adjusting entries and prepare financial statements, building a solid foundation in financial reporting and accuracy in accounting adjustments.

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