Practice - Journal to Ledger
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Practice Questions
Test your understanding with targeted questions
What is a journal in accounting?
💡 Hint: Think about where transactions are initially logged.
What do we call the process of transferring entries from the journal to the ledger?
💡 Hint: It starts with a 'p'.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is the primary purpose of the journal?
💡 Hint: Think about the order in which transactions are entered.
True or False: The ledger helps in segregating transactions into different categories.
💡 Hint: Remember the purpose of having a ledger?
1 more question available
Challenge Problems
Push your limits with advanced challenges
Your company sold services worth $1,000 and also paid $200 for supplies. After recording these transactions in the journal, explain how you would post these entries to the ledger.
💡 Hint: Consider the flow of cash in and out.
You discover an error while posting transactions from the journal to the ledger. How would you rectify this to ensure reconciliation?
💡 Hint: Think about maintaining clear records for accountability.
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Reference links
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