Bookkeeping practice exam with answers
A full practice exam covering 10 transactions from purchases to provisions. Answer online and get it checked at once, or print it with or without worked answers. New exams with different numbers come with a free account.
10 questions · 54 points · about 80 minutes
Question 1
4 pointsTransaction
We pay £5,500.00 from the till into the bank account.
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
Question 2
6 pointsTransaction
We return damaged goods worth £1,800.00 plus 20% VAT to Smith Ltd and receive a credit note.
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
Question 3
6 pointsTransaction
On gross wages of £13,200.00, employer's NIC of 13.8% is due. Book the employer's NIC (paid to HMRC later).
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
Question 4
4 pointsTransaction
We buy office supplies for £310.00 plus 20% VAT and pay in cash.
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
Question 5
6 pointsTransaction
A delivery van was bought at the start of the year for £47,400.00 net. It is depreciated on a straight-line basis over 6 years. Book the depreciation at the end of the year.
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
Question 6
6 pointsTransaction
Output VAT £1,243.59, Input VAT £3,378.24. Offset the two; HMRC refunds the excess input VAT straight into our bank account (one entry).
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
Question 7
4 pointsTransaction
£2,950.00 is transferred from the business account to the owner's private account.
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
Question 8
4 pointsTransaction
A customer buys goods for £230.00 plus 20% VAT and pays in cash.
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
Question 9
8 pointsTransaction
On 1 December, rent for December to May (6 months × £800.00) was paid in advance and booked as Rent. Book the year-end adjustment at 31 December.
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
Question 10
6 pointsTransaction
We buy goods on credit from Evans Ltd: goods £1,200.00 net, carriage £320.00 net, plus 20% VAT on the total.
Enter asDebit
Assets up · expenses · liabilities down
Total debit£0.00
Credit
Liabilities up · income · assets down
Total credit£0.00
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