Financial accounting — double-entry bookkeeping
T-Level: Finance: Financial accounting — double-entry bookkeeping
What you'll learn
- 1
Imagine you're running a lemonade stand 🍋. Every time you sell a cup, you get money in your cash box. But you also need to write down where that money came from — that's double-entry bookkeeping!
- 2
How many accounts are affected in a double-entry transaction?
- 3
You sell a cup of lemonade for £2 cash. Let's record it!
- 4
Now you buy lemons for £5 cash. Drag the amounts to the correct sides.
- 5
When you buy lemons with cash, which account is DEBITED?
- 6
You borrow £100 from your mum to buy more lemons. How do we record this?
- 7
What is the golden rule of double-entry bookkeeping?
Practise Financial accounting — double-entry bookkeeping with Whizlo
Free AI-tutored lessons, unlimited practice questions, and progress tracking for ages 16–18. Aligned to the UK National Curriculum.