Track 14 · Assessments
Journal entry assessment
Eighteen varied journal entries across the accounting cycle — the format most employer tests use — with feedback on the classic wrong accounts.
You will be able to
- Record entries across the cycle quickly and accurately: equity, borrowing, trading, payroll, VAT and dividends.
- Record period-end adjustments: prepayments, accruals, depreciation and credit losses.
- Handle compound entries such as disposals, loan repayments and error corrections.
Included with a Formula Quest membership
A membership includes the worked examples, all 18 graded exercises and the full curriculum. The foundations track, the first ledger lessons and the Northstar Trading case stay free.
References
- IFRS Foundation — IAS 16 Property, Plant and Equipment (accessed 2026-10-21)
Content review: answers and figures are checked by automated tests against the accounting engine, and the text has had an internal review against the standards; independent review by a qualified accountant is pending.