Bookkeeping Exam Practice: Double Entry, Trial Balance & Bank Reconciliation

What you'll build

What you will be able to do

Each lab ends with a concrete result that you build yourself and the checker confirms, cell by cell.

• Classify four of Quillmore Stationery’s accounts as asset, liability, equity, income or expense, and give a normal balance, exam style.
• Journalise eight of Quillmore’s March transactions, cash and credit, with account numbers, and answer two quick rule questions.
• Post April’s sales and purchases day books to the customer accounts, the receivables control account and the nominal ledger, then work out the sales tax position.
• Total Quillmore’s trial balance at 30 Jun 2026, measure the difference, test it for a transposition with MOD 9 and find the account that was copied wrongly.
• Complete a sales invoice to Larkspur School with a trade discount and an illustrative 20% sales tax, then pull the tax out of a tax-inclusive counter sale.
• Compare Quillmore’s cash book with the 31 May bank statement, total the timing differences with SUMIFS and prove that the adjusted balances agree.
• Calculate the insurance prepayment and the electricity accrual at 31 Dec 2026, the expense for the year including last year’s balances, and record the two adjustments.
• In a 20-minute mock you finish Quillmore’s year-end extract: depreciation, final balances, net profit and a chart of the expenses.