Practice
Bookkeeping exercises with answers
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- Accounting equation practiceDecide how each transaction changes assets, liabilities, and equity. These are the building blocks of every journal entry.60 items16 free
- Account classification quizClassify each account by type, normal balance, and the statement where it appears — including contra accounts.44 items20 free
- Debit and credit practiceMake debit and credit decisions automatic. Each question tells you the account and side; you decide the effect.32 items16 free
- Journal entry practiceRecord everyday transactions in a real journal-entry workbench. The grader checks accounts, sides, amounts, and dates — not just whether it balances.69 items12 free
- Compound journal entry exercisesPractice entries with three or more lines: mixed financing, part-paid sales, and loan payments split between principal and interest.18 items1 free
- Correcting entry practiceFind what went wrong and record the minimal correcting entry.21 itemsPro
- T-account and general ledger exercisesWork with T-accounts and ledger balances, then trace balances back to their postings.15 items1 free
- Trial balance error exercisesDiagnose bookkeeping errors and predict their effect on the trial balance.20 items2 free
- Cash receipts practiceRecord daily takings and card sales correctly.6 itemsPro
- Petty cash exercisesSet up and replenish a petty cash fund.6 itemsPro
- Bank fees and NSF check practiceRecord items you first learn about from the bank statement.6 items1 free
- Bank reconciliation exercisesReconcile bank statements to the books in an interactive workbench.16 items2 free
- Accounts receivable exercisesPractice the full receivables cycle.24 items2 free
- Accounts payable practiceRecord and pay supplier bills accurately.21 items2 free
- Cash vs accrual basis exercisesCompute results under both bases and see why they differ.6 items1 free
- Revenue recognition practiceDecide when revenue is recognized.1 items1 free
- Adjusting entries practiceRecord month-end adjustments with exact calculations.33 items4 free
- Reversing entries exercisesRecord reversing entries after accruals.3 itemsPro
- Depreciation exercisesCalculate and record straight-line depreciation.12 items2 free
- Asset disposal exercisesRemove assets and accumulated depreciation and record gains or losses.6 itemsPro
- Inventory and COGS exercisesPractice merchandise bookkeeping with stated methods.21 items2 free
- Payroll bookkeeping practiceRecord payroll using fictional, stated rates (not tax advice).15 items2 free
- Sales tax bookkeeping exercisesRecord sales tax collected and remitted.9 items1 free
- VAT bookkeeping practiceWork through VAT calculations.3 itemsPro
- Income statement practiceCompute net income correctly.3 items1 free
- Balance sheet exercisesBuild balance sheet totals.3 items1 free
- Statement of owner's equity practiceCompute ending owner's capital.3 itemsPro
- Financial statement classificationSort items onto the right statements.1 items1 free
- Closing entries practiceRecord the four closing entries.19 items2 free
- Mixed bookkeeping practiceUnlabelled, real-world tasks that combine skills.57 itemsPro