Accounting Journal Entries - Guide, Examples, Practice test

ONE STOP REPOSITORY of basic journal entries. Practice test with 98 Questions and Answers to test your knowledge.

UPDATED IN 2025

Added a new section (Section 4) on Practical examples for understanding how the right accounting journal entries are identified.  19 Practical examples added now.

New practical examples will be added every month. Keep checking every month.

Added a section for Practice Test - Test your knowledge. - 98 Question and Answers.

1. A simple course comprising of Accounting Journal entries applicable for every business.

<  Downloadable resource - the full PDF on Accounting journal entries under lecture 1>

2. This course will make accounting journal entries interesting for all those who have been avoiding this subject.

3. It will be a one stop repository of all basic journal entries for most of the sub processes.

4. It covers first level accounting Journal entries

· Basics of Journal entries and types of Journal entries

· Journal entry format and Journal entry impact on accounts

· 3 Golden rules of accounting – Real account, Personal account, Nominal account

· Two scenario-based examples, with a step-by-step approach to identify the correct accounting journal entries. With this step-by-step approach you will be able to arrive at the correct journal entries for any given scenario.

· Order to Cash process - Revenue, Accounts Receivables, Allowance for Bad debts, Bad Debts, Factoring

· Procure to Pay process - Payable, Payroll expenses, Accruals

· Prepaid, Fixed Assets, Inventory, Abnormal loss, Prepaid expenses, Petty cash, Banking

· Special topics like Intercompany, Lease, Impairment, Goodwill, Amortization expense

· Taxes – Goods and Service Tax, Income tax and Deferred Tax Asset and Deferred Tax Liability

· Share capital, Dividend

· Investments, Investment in Associates and Investment by the owner in Equity

5. This course is relevant for all Business needs, Finance professionals and accounting students.