Journal Entries

On Your Test

Introduction to Accounting

On Your Test

You will be expected to know the following for multiple choice concept questions. Almost all questions will relate to these things

The format of a journal entry

What “debit” and “credit” means

Does a debit increase or decrease an account
Does a credit increase or decrease an account

How do you balance a T account

You will be asked to do the following on problems and multiple choice problems that require calculations. It boils down to this:

Record a journal entry for a given transaction