Accounting homework help: debits, credits and why they go there
If debits and credits still feel like memorizing, accounting homework turns into guessing. Paste the transactions or attach the assignment, and your agent records each journal entry with the reason behind it, posts T-accounts, builds a trial balance in Excel that you can check, and shows you where your own entries went off.
The prompt
- Help me with this accounting homework: [ASSIGNMENT OR TRANSACTIONS]. My course is [COURSE] and we follow [GAAP OR IFRS]. My attempt so far: [MY ENTRIES]. For each transaction, write the journal entry with the date, accounts, debit and credit, and one sentence on why each account goes up or down (using the accounting equation). Post them to T-accounts and build an unadjusted trial balance that balances. Give me an Excel file with sheets for the journal, T-accounts and trial balance, using formulas so I can see the totals. Mark every place my attempt differs and explain the fix. Then give me two similar transactions to record myself.
What to change
- [ASSIGNMENT OR TRANSACTIONS]: Paste the list of transactions, or attach the assignment PDF or a photo.
- [COURSE]: E.g. "Financial Accounting 101", "Managerial Accounting", "Intermediate Accounting I".
- [GAAP OR IFRS]: Your course's framework, or "not sure". Matters for some topics like inventory (LIFO) and leases.
- [MY ENTRIES]: Paste your entries or attach your spreadsheet. "None yet" is fine.
Example result
- Transactions (Lumen Design Studio, June)
- 1. Owner invests $20,000 cash in the business.
- 2. Buys equipment for $8,000, paying $3,000 cash and owing the rest.
- 3. Completes design work for a client on account, $4,500.
- 4. Pays $1,200 rent for June.
- 5. Receives $2,000 from the client in transaction 3.
- Journal entries
- June 1 Dr Cash 20,000 / Cr Owner's Capital 20,000
- • Cash (asset) increases, so debit. Owner's equity increases, so credit.
- June 3 Dr Equipment 8,000 / Cr Cash 3,000 / Cr Accounts Payable 5,000
- • A new asset (debit). One asset falls (credit Cash) and a liability rises (credit A/P). Debits 8,000 = credits 8,000.
- June 10 Dr Accounts Receivable 4,500 / Cr Service Revenue 4,500
- • Revenue is earned when the work is done, not when cash arrives (accrual basis).
- June 15 Dr Rent Expense 1,200 / Cr Cash 1,200
- • Expenses reduce equity, so they are debited.
- June 25 Dr Cash 2,000 / Cr Accounts Receivable 2,000
- • No new revenue: the client is paying what they already owe.
- Trial balance, June 30
- • Cash: 17,800 Dr
- • Accounts Receivable: 2,500 Dr
- • Equipment: 8,000 Dr
- • Accounts Payable: 5,000 Cr
- • Owner's Capital: 20,000 Cr
- • Service Revenue: 4,500 Cr
- • Rent Expense: 1,200 Dr
- • Totals: 29,500 Dr = 29,500 Cr
- Your attempt
- • June 10: you debited Cash. No cash moved yet, so the debit goes to Accounts Receivable.
- • June 25: you credited Service Revenue again. That counts the same sale twice.
- Your turn
- Record these: (a) pays $5,000 owed for the equipment, (b) receives $900 cash in advance for work next month. Hint: (b) is not revenue yet.
How to do it with todo.is
- Replace the brackets with the transactions, your course and framework, and your own entries if you have them.
- Paste it into todo.is, or attach the assignment PDF and send the to-do to your agent on WhatsApp or Telegram.
- Download the Excel file with the journal, T-accounts and trial balance, and read the reason next to each entry.
- Record the practice transactions yourself and send them back for a check. Ask for adjusting entries or financial statements next.
Tips for a better result
- Before each entry, ask: which accounts change, and does each go up or down? Then apply the debit/credit rule. It beats memorizing entries.
- Use the DEALER rule: Dividends, Expenses, Assets increase with debits; Liabilities, Equity, Revenue increase with credits.
- If your trial balance does not balance, ask your agent to find the difference. A difference divisible by 9 often means two digits were swapped.
- Ask for the Excel file with formulas, not typed totals, so you can change a number and see how the statements move.
accounting homework help: FAQ
- Can it make financial statements from a trial balance? Yes. Ask for an income statement, statement of owner's equity and balance sheet, in the order your course uses, in Excel or PDF.
- Does it help with managerial and cost accounting? Yes: cost-volume-profit, break-even, job and process costing, budgets and variance analysis, with the formulas built into a spreadsheet.
- Can it fill in my online homework system for me? No. It explains and checks your work so you can enter the answers yourself. That is also what most course policies allow.
- Is the Excel file editable? Yes. It is a normal .xlsx file with formulas you can open in Excel or Google Sheets and change.
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