I am taking my first account class and need so help with understanding what type of accounts are included in the six major groups of account and what the normal balance of each of the six major groups are.

Can you explain in simple terms what effects does a debit and credit have on each of the six major groups and how an imbalance in with debits or credits impact a business.

When it comes to financial statements, what kind of information is contained in the four different types? What order are the financial statements prepared and why do the four financial statements have to be prepared in this order?

Can you explain what adjusting entries are and why they are made? Are you able to provide me an example of what an adjusting entry looks like for each of the four major groups of adjusting entrees?