We have done a lot of exercises in our accounting class which includes practical and theorical exercises. We are required to show the tutorial exercises and answers for each of the three topics that we have learnt in class. The topics that I have chosen are as shown as below.
1. Trial Balance 1.0
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| PandL statement |
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| Balance sheet |
A trial balance is a list of all the General ledger accounts. The profit and loss statement and balance sheet can then be produced using the ledger accounts listed on the trial balance. People can investigate whether the business is getting profit or loss.
2.Cash flow statement 1
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| question1 |
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| question 1 |
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| question 2 |
A cash flow statement is a financial statement that shows how changes in balance sheet accounts and income affect cash.
A financial ratio is a relative magnitude of two selected numerical values taken from a financial report
Reflection
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| thinking and problem solving skills |
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| lifelong learning |
Practice makes perfect. These exercises are really helpful for me to ensure I understand the certain topic. I appreciate a lot and I wish that I would have more exercises to practise. I learnt a lot which I never learn before and also I have improved my problem solving skills as I always have to solve calculations in accounting.
