30 Short Questions and Answers-Journal [With PDF]

Today, we’ll learn about “30” Short Questions and Answers-Journal. The importance of “Journal” is immense in accounting.

The recording of the transaction starts with the journal.

If you read this article from the beginning to the end, I am sure you’re going to get the basic concept of the journal.

If you practice it on a regular basis, it will certainly improve your accounting skills, which will help you win any accounting competition.

For theory please read this article Accounting Journal-Definition, Features, Rules for Journal Entry

So let’s get started.

Short Questions and Answers-Journal

Question-01: What is a journal?

Answer: The book in which the detail of the transactions is recorded first analyzing the debit and credit side of a transaction and is written chronologically with an explanation is called a journal.

Question-02: What is the origin of the word “journal”?

Answer: The word “journal” originates from the French word “Jour”.

Question-03: What is the 3rd step of the accounting cycle?

Answer: The 3rd step of the accounting cycle is Journal.

Question-04: What is Journal called?

Answer: A journal is called the

Primary books,

Daily books, and
Subsidiary books of accounts.

Question -05: What is the feature of the journal?

Answer: The features of the journal are as follows:

Primary/Daily/Subsidiary books of accounts.
Analysis into the dual aspect.

Provide necessary narration.
Recording in equal amounts.
A reference to the litigation of disputes, etc.

Question-06: What are the benefits of a journal?

Answer: The benefits of the journal are as follows:

A permanent record of transactions.

Determination of heads of accounts.
A storehouse of information.
Future reference.

Maintenance of continuity of transactions.
Aid to maintain the cleanliness of the ledger.
Aid to litigate disputes, etc.

Question-07: Why is Journal called the book of basic accounts?

Answer: Journal is called the book of basic accounts because if any doubt arises, it can be examined in the journal.

Question-08: Which accounts can be easily separated through the journal?

Answer: The accounts that can be easily separated through the journal are as follows:

Nominal accounts,
Personal accounts, and

Asset accounts.

Question-09: What is the main purpose of the journal?

Answer: The main purpose of the journal is initial accounting.

Question-10: For accounting purposes, how many categories are there in a journal?

Answer: There are eight (8) categories in a journal.

Question-11: Journal makes it easy to prepare which account?

Answer: Ledger Account.

Question-12: What is the total number of columns in the journal table?

Answer: The total number of columns in the journal table is five (5).

Question-13: What is a simple journal?

Answer: Simple journal is a journal that has one debit account and one credit account.

Question-14: What is a mixed journal?

Answer: Mixed journal is a journal that has multiple debit accounts and multiple credit accounts.

Question-15: Special journals can be divided into how many parts? What are their names?

Answer: Journals can be divided into two (2) parts which are as follows:

Special Journal and
Proper Journal.

Question-16: What is a Special journal?

Answer: Special journal is a journal entry that is made for recording almost all the transactions that take place in business.

Question-17: Special journals can be divided into how many parts? What are their Names?

Answer: Special journals can be divided into six (6) parts which are as follows:

Purchase Journal
Sales Journal
Purchase Return Journal

Sales Return Journal
Cash Receipt Journal and
Cash Payment Journal.

Question- 18: What is the purchase Journal?

Answer: Purchase journal is a journal entry that is made for recording all the credit goods purchased of a business.

Question-19: What is a sales journal?

Answer: Sales journal is a journal entry that is made for recording all the credit goods sales of a business.

Question-20: What is Purchase return Journal?

Answer: Purchase return journal is a journal entry that is made for recording goods purchased on credit but returned.

Question-21: What is the sales return journal?

Answer: Sales return journal is a journal entry that is made for recording goods sold on credit but returned.

Question-22: What is the cash receipt Journal?

Answer: A cash receipt journal is a journal entry that is made for all cash receipts transactions.

Question-23: What is Cash Payment Journal?

Answer: A cash payment journal is a journal entry that is made for all cash payment transactions.

Question-24: What is Proper Journal?

Answer: Proper Journal is a journal entry that is made for transactions that are not included in a special journal.

Question-25: The Proper journal can be divided into how many parts? What are their names?

Answer: The Proper journal can be divided into four (4) parts which are as follows:

Rectification Journal
Adjusting Journal

Closing Journal and
Opening Journal.

Question-26: What is Rectification Journal?

Answer: Rectification Journal is the entry that is given for the correction of errors on recording transactions.

Question-27: What is the adjusting Journal?

Answer: The adjusting Journal is the entry that is made for the unrecorded and unadjusted items.

Question-28: What is a closing Journal?

Answer: Closing Journal is the entry that is made for the closing of nominal accounts (income and expenditure accounts).

Question-29: What is an opening Journal?

Answer: The entry which is given for carrying out the last year’s assets, liabilities, and owner’s equity to the beginning of the next year is known as opening Journal.

Question-30: what is known from the journal?

Answer: Total number of transactions, the total number of money, and the reason for transactions are easily known from the journal.

I hope, at the end of the article you have a basic idea about the journal. Practice these “30” Short Questions and Answers-Journal on a regular basis.

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