Accounting Equation Mastery

Froggy Jumps

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Balance the books fun

Créé par

Talha Kachchhi

India

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Accounting Equation Mastery


Froggy Jumps Accounting Equation MasteryVersion en ligne Balance the books fun par Talha Kachchhi 1 What is the basic accounting equation? a Assets = Liabilities + Equity b Assets = Incomes + Expenses c Assets + Liabilities = Equity 2 If the owner invests cash 50,000, what happens to the equation? a Assets decrease; Equity increases b Liabilities increase; Assets stay same c Assets and Equity both increase 3 Purchase equipment for 20,000 in cash. What is the effect? a Total assets stay the same b Liabilities increase c Equity decreases 4 Borrow from bank 30,000 in cash. What changes? a Assets increase and Liabilities increase b Assets increase only c Equity increases only 5 Pay rent 5,000 in cash. How does it affect the equation? a Liabilities increase b Assets increase; Equity increases c Assets decrease; Equity decreases 6 Owner withdraws 2,000 cash for personal use. Effect on equation? a Assets decrease; Equity decreases b Liabilities decrease c Assets increase; Equity increases 7 Revenue earned on account 10,000. What happens? a Assets increase; Equity decreases b Liabilities increase c Assets increase; Equity increases 8 Pay utility expense 1,000 in cash. Effect on equation? a Assets decrease; Equity decreases b Assets increase; Equity increases c Liabilities decrease 9 Issue shares for 15,000 cash. Impact? a Assets decrease; Equity increases b Assets and Equity increase c Liabilities increase 10 Borrow from supplier on credit 8,000. Change? a Assets decrease; Liabilities decrease b Assets increase; Equity unchanged c Assets increase; Liabilities increase

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Accounting Equation Mastery

Froggy Jumps

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Accounting Equation MasteryVersion en ligne

par Talha Kachchhi

What is the basic accounting equation?

If the owner invests cash 50,000, what happens to the equation?

Purchase equipment for 20,000 in cash. What is the effect?

Borrow from bank 30,000 in cash. What changes?

Pay rent 5,000 in cash. How does it affect the equation?

Owner withdraws 2,000 cash for personal use. Effect on equation?

Revenue earned on account 10,000. What happens?

Pay utility expense 1,000 in cash. Effect on equation?

Issue shares for 15,000 cash. Impact?

Borrow from supplier on credit 8,000. Change?