subject

Journal Entries

Commerce ⇒ Accountancy

Journal Entries starts at 11 and continues till grade 12. QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Journal Entries. How you perform is determined by your score and the time you take. When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.
See sample questions for grade 12
A business owner invested ₹50,000 in cash as capital. Pass the journal entry.
A business paid insurance premium of ₹1,200 by cheque. Pass the journal entry.
A business purchased furniture for ₹10,000 in cash. Pass the journal entry.
A business received commission of ₹1,500. Pass the journal entry.
A business owner invested ₹50,000 in cash as capital. Pass the journal entry.
A business paid insurance premium of ₹1,200 by cheque. Pass the journal entry.
A business purchased furniture for ₹10,000 in cash. Pass the journal entry.
A business received commission of ₹1,500. Pass the journal entry.
Which account is credited when interest is received? (1) Interest Received Account (2) Cash Account (3) Bank Account (4) Capital Account
Which account is debited when goods are sold for cash? (1) Sales Account (2) Cash Account (3) Purchases Account (4) Capital Account
Which of the following is a compound journal entry? (1) Entry involving only two accounts (2) Entry involving more than two accounts (3) Entry with no narration (4) Entry with only one account
Which of the following is NOT a correct journal entry? (1) Cash A/c Dr. To Sales A/c (2) Purchases A/c Dr. To Cash A/c (3) Rent A/c Dr. To Capital A/c (4) Salary A/c Dr. To Cash A/c
Fill in the blank: The account credited when goods are sold for cash is __________.
Fill in the blank: The account which is debited when goods are purchased for cash is __________.
Fill in the blank: The book in which all transactions are first recorded is called the __________.
Fill in the blank: The narration in a journal entry explains the __________ of the transaction.
True or False: A journal entry can have more than one debit or credit account.
True or False: In a journal entry, the total amount debited must always equal the total amount credited.
True or False: Journal entries are always recorded in chronological order.
True or False: Narration is compulsory for every journal entry.