Accounting Equation Challenge

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Accounting equation practice

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Kavya

India

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Accounting Equation ChallengeVersion en ligne Accounting equation practice par Kavya 1 If owner invests cash of 5,000, what happens to the equation? a Assets increase 5,000; Equity increases 5,000. b Assets unchanged; Equity increases 5,000. c Assets decrease 5,000; Liabilities increase 5,000. d Liabilities increase 5,000; Equity decreases 5,000. 2 Buy equipment for 2,000 cash. What changes? a Assets +2,000; Liabilities +2,000. b Liabilities +2,000; Equity +2,000. c Assets: Equipment +2,000; Cash -2,000. d Assets: Equipment -2,000; Cash +2,000. 3 Borrow 3,000 from bank. Effect on equation? a Assets -3,000; Equity -3,000. b Liabilities +3,000; Assets +3,000. c Equity +3,000; Assets -3,000. d Assets +3,000; Liabilities -3,000. 4 Owner withdraws 1,000 cash for personal use. a Assets +1,000; Equity +1,000. b Assets -1,000; Equity -1,000. c Assets -1,000; Equity +1,000. d Assets -1,000; Liabilities -1,000. Feedback 1 Investment increases both assets and owner’s equity. 2 Cash payment increases equipment asset and reduces cash asset. 3 Borrowing increases both assets (cash) and liabilities (loan). 4 Draw reduces both assets (cash) and owner’s equity.

Accounting Equation ChallengeVersion en ligne

Accounting equation practice

par Kavya

If owner invests cash of 5,000, what happens to the equation?

Assets increase 5,000; Equity increases 5,000.

Assets unchanged; Equity increases 5,000.

Assets decrease 5,000; Liabilities increase 5,000.

Liabilities increase 5,000; Equity decreases 5,000.

Buy equipment for 2,000 cash. What changes?

Assets +2,000; Liabilities +2,000.

Liabilities +2,000; Equity +2,000.

Assets: Equipment +2,000; Cash -2,000.

Assets: Equipment -2,000; Cash +2,000.

Borrow 3,000 from bank. Effect on equation?

Assets -3,000; Equity -3,000.

Liabilities +3,000; Assets +3,000.

Equity +3,000; Assets -3,000.

Assets +3,000; Liabilities -3,000.

Owner withdraws 1,000 cash for personal use.

Assets +1,000; Equity +1,000.

Assets -1,000; Equity -1,000.

Assets -1,000; Equity +1,000.

Assets -1,000; Liabilities -1,000.

Feedback

Investment increases both assets and owner’s equity.

Cash payment increases equipment asset and reduces cash asset.

Borrowing increases both assets (cash) and liabilities (loan).

Draw reduces both assets (cash) and owner’s equity.

Vous pouvez intégrer le jeu dans un LMS compatible avec LTI 1.1 ou LTI 1.3 comme Canvas, Moodle ou Blackboard. Les scores seront ainsi automatiquement enregistrés dans le carnet de notes de la plateforme.

Accounting Equation Challenge

Test

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Accounting Equation ChallengeVersion en ligne

par Kavya

If owner invests cash of 5,000, what happens to the equation?

Buy equipment for 2,000 cash. What changes?

Borrow 3,000 from bank. Effect on equation?

Owner withdraws 1,000 cash for personal use.

Feedback

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