Ch3.3 Accounting Equation 3E
7th - 12th Grade
•15 Qs
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Ch3.3 Accounting Equation 3E
Quiz
•
Business
•
7th - 12th Grade
•
Practice Problem
•
Hard
Chwoon Tan
Used 6+ times
FREE Resource
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15 questions
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1.
FILL IN THE BLANK QUESTION
20 sec • 1 pt
Asset = Liability + ______
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
State the accounting equation
Asset = Liability - Equity
Asset +Liability = Equity
Asset = Liability X Equity
Asset = Liability + Equity
3.
FILL IN THE BLANK QUESTION
1 min • 1 pt
If assets is $500 and liabilities is $300, how much is equity?
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
If equity is $400 and liabilities is $300, how much is asset?
5.
FILL IN THE BLANK QUESTION
3 mins • 1 pt
On 1 January 2021, the balances of ABC Trading are as follow:
Inventory $500
Cash at bank $200
Bank loan $100
Calculate the capital on 1 January 2021.
Capital is $___________
6.
FILL IN THE BLANK QUESTION
3 mins • 1 pt
On 1 February 2021, the balances of ABC Trading are as follow:
Inventory $600
Cash at bank ?
Furniture $250
Capital $1000
Calculate the cash at bank on 1 February 2021.
Cash at bank is $___________
7.
FILL IN THE BLANK QUESTION
3 mins • 1 pt
On 1 March 2021, the balances of ABC Trading are as follow:
Equipment $900
Cash at bank ?
Inventory $250
Capital $1000
Trade payable $200
Calculate the cash at bank on 1 March 2021.
Cash at bank is $___________
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