In this issue:

1. Latest Free Accounting Questions – Test Yourself!

Think you’re clever? Think you know accounting?

Test yourself by answering the accounting questions below, questions posed by fellow students on the Accounting-Basics-For-Students.com website.

We've divided the questions below into different categories so you can focus on those that are most relevant to you.

So with that said, here are the latest and greatest accounting questions:


Accounting Equation:

• Fill in the Blank Questions: Basic Accounting Equation
• Accounting Equation Exercises

Basic Journal Entries:

• Journal Entry - Capital Investment
• Journal Entry Question: Complex Capital Investment
• Journal Entry for Drawings?
• Journal Entry Question: Cash Purchase of Asset
• Journal Entry Question - Purchasing Goods
• Which Journal Does This Transaction Go Into?

Ledger and T-Accounts:

• Balancing T-Account Mini-Exercise
• Journal Entries and Ledger Exercise
• T-Account Labels
• Control Accounts Exercise (General Ledger)
• Prepare Total Debtors Account and See Whether the Balance Obtained Agrees with the Balance as per Schedule

Financial Statements:

• Cash Flow Statement & Balance Sheet Exercise
• Bad debts in Cash Flow Statement?
• Cash Flow Statement & Funds Flow Statement

Inventory and Manufacturing:

• Material Pricing and Valuation of Stock (FIFO, LIFO & Weighted Average Cost Question)
• Manufacturing Costs Question (The cost of raw materials purchased during the year)
• Manufacturing Statement Exercise
• Relation of Profit to Opening & Closing Inventory
• Weighted Average Method

Advanced and Random Questions:

• Gross Profit Quick Question
• Insurance Claim Journal Entry
• Time Difference in Finance
• Break Even Analysis Question
• Contingent Liability?
• Journal Entry for Shares Issued
• Accounting for Donations
• Financial Cash Flows vs Statement of Cash Flows
• Journal Entries Question: Perpetual Inventory System & Credit Card Transaction

2. Your Voice!

As mentioned in previous issues, we created a whole section on the site just to hear what you have to say – called Your Voice. In this section you can create your own Personal Web Page, post funny, crazy or horrifying Accounting or Student Stories, find or submit details of Accounting Tutors and more.

So what are you waiting for, submit today!

~ The Editor
Accounting Basics for Students.com

P.S. If you would like to express your opinion on anything in this newsletter or on the site or anything else, please click here. We value your feedback.

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