Alex’s Auto Detailing: Double-Entry Accounting
⬇ Download Teacher GuideAlex's Accounting Lab provides an interactive, hands-on experience where students learn the full accounting cycle through guided activities. In this lab, students help Alex manage his service-based auto detailing business, making it simpler by avoiding the complexities of inventory and cost of goods sold.
This lab offers a unique and engaging way for high school students to learn the full accounting cycle. Designed specifically for high school students, the lab uses a simple service-based business to walk students through each step of accounting—from transactions to financial statements—making it accessible and easy to follow.
What sets this lab apart is its Randomization Capability - With our unique platform feature, teachers can configure whether every student should receive a different set of transaction amounts. This prevents copying, supports individualized learning, and makes it ideal for independent projects.
The lab is highly interactive, with auto-graded worksheet activities, allowing students to gain hands-on experience and learn at their own pace without feeling overwhelmed. This combination of real-world practice and instant feedback makes it the perfect tool for introducing students to the foundations of accounting.
Key Learning Objectives:
- Ability to analyze transactions (12 transactions in this lab)
- Use T-accounts to visualize the effect of transactions on accounts
- Understand double-entry accounting by recording transactions in the general journal.
- Post the journal entries to ledgers.
- Prepare and verify a trial balance to ensure the accounts are accurate.
- Learn how to make adjusting entries for prepaid expenses and unearned revenues.
- Develop key financial statements: Income Statement, Balance Sheet, and Statement of Owner’s Equity.
- Complete the accounting cycle by making closing entries and preparing the Post-Closing Trial Balance.
Features:
- Randomization Capability: Teachers can configure whether every student should receive a different set of transaction amounts.
- Auto-graded worksheets that provide immediate feedback and ensure students don’t fall behind at any step.
- Simplified service business setup, removing the complications of tracking inventory and cost of goods sold.
- Engaging reflective writing activities to reinforce learning and analyze Alex’s business performance.
- Hands-On Learning: Students gain true hands-on experience by engaging with real transactions and accounting procedures.
- Immediate Feedback for Learning: With instant feedback and correction, students can see their progress and make adjustments in real-time, reinforcing their understanding of accounting concepts and preventing common mistakes.
- Tailored for High School Students: With simple, real-world transactions, the lab is perfectly suited for high school students who are new to accounting.
Student Feedback
I will remember the beautiful introduction that got me settled into this interactive lab.
I will remember how the accounting cycle fits together and how the small mistakes can affect the final balance.
This lab helped me learn how each step in the accounting cycle flows into the next and how important accuracy is to keep everything balanced.
From this lab, I'll remember the critical importance of maintaining a structured and reliable accounting system for any business, no matter the size. The process of creating journal entries taught me the significance of accurately recording each financial
I will remember the way it would say whether the answers were correct or not
I will remember how it gave a step by step process which was helpful when I would get lost.
I will remember how each step in the accounting cycle from journal entries to financial statements builds on the previous one and how mistakes early on can affect everything that follows.
It explained everything very well, then provided a real example of the task to be completed so I could check my knowledge.
The step-by-step process of recording transactions and preparing financial statements.
I will remember how the accounting methods helped guide me through the problems and journal entries.
I will remember everything, it was truly great!
The challenges i had to realize that one simple mistake can mess upthe entire accounting
What I’ll remember most from this lab is how each step of the accounting cycle builds on the last, and how satisfying it is to see everything balance out in the end especially the post closing trial balance.
I will remember that i was actually able to help a business owner and could help them make more money in the long run
The check boxes to help us understand whether we are going in the right direction of the solution.
I will remember figuring out how to do the closing entries even when I was slightly confused.
I liked how it told you if your write so you feel confident in knowing your answer.
I liked how before each activity there was a powerpoint specific for what I was about to be doing.
The ability to make financial statements while understanding how to comprehend them and apply it to businesses.
I will remember adjusting entries and posting the journal entries. Additionally, writing the letter was pretty memorable.
I will remember how to follow a accounting cycle step by step.
i will remember the basics of how to manage and journal entries which is the start to accounting
I will remember how to correctly complete a balance sheet as well as document my assets, liabilities, and owner's equity.
I will remember the whole experience, because it was very engaging and fun. It felt like I was doing accounting for an actual firm .
Awesome and organized
I think I will remember the income statement instructions the best. I didn't understand it very much until this.
I will remember most how I am applying the skills I'm learning to real world scenarios and how I can do it all on my own without the help of my teacher.
I will remember most about the different types of accounts.
It was very engaging and enjoyable to do.
I will remember closing entries the most just because before they kind of confused me like I really didn't understand them but this lab ended up making it easier for me t o understand.
The letter to alex explaining what all the parts of the accounting cycle do and why they're important.
I just really liked doing journal entries so I will defintely be thinking about that, and the explanations because they worked well as refreshers.
How I used everything I learned in class and it all made sense.
I will remember how to fill out each part of the accounting cycle, and how important it is to do it right, by not making mistakes.
