A chemical equation represents a chemical reaction through symbols. Each of these symbols has a meaning in the physical reaction.
The most basic relationship is the one between the reactants and the products. The reaction arrow shows that the reactants are rearranged during the chemical reaction into the products. The reaction arrow can be translated as "yeilds", or "produces", or "makes". The sentence construction would be "x and y reactants produces w and z products"
Coefficients represent how many of each molecule, but subscripts represent what atoms make up each of those molecules. For example, lets say that we have 6 bikes. The coefficient would be 6 because there are six separate bikes. If we consider number of tires the subscript is 2 because each bike has two wheels.
Chemicals are not always in the same state of matter. In the reaction above you see that some of the chemicals are gases and some liquid or solids. For each chemical the state of matter is always in a parenthesis to the bottom right.
The state of matter (aq) is aqueous. This means that the chemical is dissolved in water. The chemical is separated into small parts that are suspended in the solution.