Journaldrill

All 54 journal entry exercises

Journaldrill is journal entry practice in your browser. Every exercise gives you a short business scenario with real numbers. You pick the accounts, type each debit and credit, and the entry is checked the moment you submit it, with feedback that names the kind of mistake. The exercises are listed here level by level. 5 are free without an account; Pro unlocks the rest.

Start practicing free

Level 1: Basics

Owner investment, buying on account, cash and credit sales, paying bills, collecting receivables, drawings and dividends.

  1. Owner investmentFree
  2. Equipment bought with cash and creditFree
  3. Cash sale of servicesFree
  4. Services billed on accountFree
  5. Paying rent and utilitiesFree
  6. Paying an account payablePro
  7. Collecting a receivablePro
  8. Owner withdrawalPro
  9. Dividends declared and paidPro

Level 2: Adjusting entries

Prepaids, supplies used, unearned revenue, accrued wages and interest, depreciation and closing.

  1. Prepaid insurance usedPro
  2. Prepaid rent usedPro
  3. Supplies usedPro
  4. Unearned revenue earnedPro
  5. Accrued wagesPro
  6. Accrued interest on a notePro
  7. Accrued service revenuePro
  8. Straight-line depreciationPro
  9. Closing revenuesPro

Level 3: Inventory and sales

Perpetual purchases, freight, returns, discounts, cost of goods sold, write-downs and shrinkage.

  1. Merchandise bought on accountPro
  2. Freight on purchasesPro
  3. Purchase returnPro
  4. Purchase discount takenPro
  5. Sale on account with costPro
  6. Sales return restockedPro
  7. Sales discount takenPro
  8. Inventory write-downPro
  9. Inventory shrinkagePro

Level 4: Receivables and payables

Allowance method, write-offs and recoveries, notes and interest, card fees and petty cash.

  1. Bad debts: percent of salesPro
  2. Bad debts: aging methodPro
  3. Writing off an accountPro
  4. Recovery: reinstating the accountPro
  5. Borrowing with a notePro
  6. Paying a note at maturityPro
  7. Accepting a customer notePro
  8. Credit card salesPro
  9. Replenishing petty cashPro

Level 5: Payroll, assets and equity

Payroll withholdings and employer taxes, selling equipment, stock issues, treasury stock and dividends.

  1. Recording payrollPro
  2. Employer payroll taxesPro
  3. Selling equipment at a gainPro
  4. Selling equipment at a lossPro
  5. Issuing common stockPro
  6. Issuing preferred stockPro
  7. Buying treasury stockPro
  8. Declaring a cash dividendPro
  9. Small stock dividendPro

Level 6: Bonds and leases

Bonds at par, discount and premium, amortization, retirement and finance leases.

  1. Bonds issued at parPro
  2. Bonds issued at a discountPro
  3. Bonds issued at a premiumPro
  4. Interest with straight-line discountPro
  5. Interest with effective-interest premiumPro
  6. Retiring bonds at maturityPro
  7. Early retirement at a lossPro
  8. Finance lease at commencementPro
  9. First finance lease paymentPro

Try the first five scenarios free.

No sign-up needed for the first five. If it works for you, Pro unlocks all 54, and a free account saves your progress across devices.

Start practicing free