Practice - Types of Journal Entries
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions
What is a simple entry in accounting?
💡 Hint: Think of the most basic form of transactions.
Give an example of a simple entry.
💡 Hint: Consider transactions with immediate cash payment.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What type of journal entry includes one debit and one credit?
💡 Hint: Think about the most basic transaction.
True or False: Adjustment entries are made at the beginning of the accounting period.
💡 Hint: Consider at what point you adjust accounts.
1 more question available
Challenge Problems
Push your limits with advanced challenges
Design an intricate journal entry for a scenario where a company borrows ₹20,000 from the bank and purchases equipment worth ₹15,000 partly in cash and partly on credit.
💡 Hint: Consider how many accounts are affected in the transaction.
A business paid rent of ₹5,000 for two months in advance. How would you record this transaction?
💡 Hint: Think about recording future expenses.
Get performance evaluation
Reference links
Supplementary resources to enhance your learning experience.