Journal Entries Practice
Authored by Brian Fitzgerald
Life Skills
12th Grade - University
Used 651+ times
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This quiz focuses on fundamental accounting principles and journal entries, covering the essential mechanics of double-entry bookkeeping. Designed for high school seniors or first-year college students (grades 12-13), the questions assess students' understanding of debits and credits, account classifications, and proper journal entry recording procedures. Students need to master the accounting equation (Assets = Liabilities + Owner's Equity), understand normal account balances, and recognize how different transaction types affect various accounts. The core concepts include distinguishing between assets, liabilities, revenues, and expenses; applying debit and credit rules correctly; understanding prepaid expenses versus current expenses; and recognizing the difference between informal tools like T-accounts and formal documents like the general ledger. Students must also demonstrate knowledge of accounting procedures, including chronological recording, error correction protocols, and account numbering systems. Created by Brian Fitzgerald, a Life Skills teacher in the US who teaches grades 12-13. This comprehensive quiz serves multiple instructional purposes in an accounting or business fundamentals course, providing excellent material for formative assessment, homework assignments, or review sessions before major examinations. Teachers can use individual sections as warm-up activities to reinforce specific concepts, such as using the journal entry questions for daily practice or the true/false questions for quick comprehension checks. The varied question formats accommodate different learning styles and assessment needs, making it ideal for differentiating instruction within the classroom. This quiz aligns with Common Core Mathematical Practices and state standards for business education, particularly those addressing mathematical reasoning in real-world contexts and problem-solving skills essential for career readiness.
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18 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Bob's Burgers received $100 for sale of burgers. What is the journal entry?
Debit Cash $100, Credit Sales Revenue $100
Debit Sales Revenue $100, Credit Cash $100
Debit Accounts Receivable $100, Credit Sales Revenue $100
Debit Sales Revenue $100, Credit Accounts Receivable
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Paid rent for 3 months $1800, what is the journal entry? Select all that apply.
Debit Cash $1800, Credit Prepaid Rent $1800
Debit Prepaid Rent $1800, Credit Cash $1800
Debit Rent Expense $1800, Credit Cash $1800
Debit Prepaid Rent Expense$1800, Credit Cash $1800
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What kind of account is unearned revenue?
Liability
Revenue
Asset
Expense
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Collected $550 from TMNT Inc. for last month's services. What is the journal entry? Select all that apply.
Debit Accounts Receivable $550, Credit Cash $550
Debit Accounts Receivable $550, Credit Service Revenue $550
Debit Cash $550, Credit Accounts Receivable $550
Debit Accounts Payable $550, Credit Cash $550
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What informal chart can you use to quickly check the balance of a single account?
T- Accounts
Trial Balance
Balance Sheet
General Ledger
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What official paper is used to show the balance of a single account after journal entries?
General Ledger
T- Accounts
Balance Sheet
Trial Balance
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Channing sold sold 40 DVDs for $20 each. He received $300 cash and sold the rest on account. Complete the journal entry. Select all that apply.
Debit Cash $300, Debit Accounts Receivable $500 , Credit Sales Revenue $800
Debit Cash $300, Credit Sales Revenue $300
Debit Accounts Receivable $500, Credit Sales Revenue $800
Debit Accounts Payable $500 , Debit Cash $300, Credit Sales Revenue $800
Debit Cash $20, Credit Sales Revenue $20
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