Financial Accounting Tests and Answers
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Accounting 101 Tests         Accounting 102 Tests

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Practice Sets

Multiple Choice Test

Quiz 1     Answers 

Quiz 2     Answers

  Quiz 3    Answers 

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Accounting Crib Notes

Debits and Credits 1 Video

Debits and Credits Crib Notes 1

Analyzing Journal Entries

Accounting Cycle Crib Notes 2

Time Value of Money, Example

One Page Accounting

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Accounting 101 Tests

Test 1 The Accounting Equation

Questions Solutions

1) Review of Journal Entries 
2) Adjusting Entries, Preparing Income Statement and Balance Sheet
3) Closing, Reversing and Correcting Entries
4) Merchandising Journal Entries and Statements

Understanding Journal Entries is a short
logical approach to help learn debits and credits.

One

Two

Three

Four 

S1

S2 

S3 

S4

Test 2 Accounting for Assets
1) Petty Cash
2) Bank Reconciliation
3) Accounts Receivable 
4) Promissory Notes
5) Inventory Methods
6) Errors, Lower Cost or Market, Estimating Inventory
7) Depreciation  and Capitalization
8) Revising Depreciation, Ordinary Repairs and Betterments
9) Disposal of Plant Assets

One
Two
Three
Four
Five
Six
Seven
Eight
Nine

S1
S2
S3
S4
S5 
S6
S7
S8 
S9
  

Test 3 Financing  Assets With Equity
1) Admitting a new partner
2) Distributing Partners Income
3) Selling Stock
4) Paying Dividends
5) Treasury Stock
6) Dividend of Common Stock
 

One
Two
Three
Four
Five
Six

S 1
S 2
S 3
S 4
S 5
 
S 6


Accounting 102 Tests
 

Test 1 On  Financing Assets With Liabilities
1) Notes Payable Discounted, Payroll 
2) Payroll 
3) The Present and Future Value of Money
4) Installment Notes Payable
5) Selling Bonds and Bond inking Fund
One
Two

Three
Four
Five

S1 
S2
S3 
S4
S5

Test 2 Analyzing Accounting Information
Cash Flow Practice Sets
1)  Statements
2)  Direct and  Indirect Methods
One
Two
S 1
S 2
Cash Flows Quick Questions
3)  Statements
4)  Direct and Indirect Methods 
Three
Four
S 3 
S4
Financial Analysis Quick Questions
5) Horizontal, Vertical and Trend #1
6) Question #2
Five
Six
S5
S 6
7) Short-Term Marketable Debt Securities  Seven S 7
8) Marketable Securities Lower Cost or Market  Eight S8