Accounting Equation Mastery

Froggy Jumps

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Sobre esta actividad

Balance the books fun

Creada por

Talha Kachchhi

India

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Froggy Jumps Accounting Equation MasteryVersión en línea Balance the books fun por 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

Froggy Jumps

Accounting Equation MasteryVersión en línea

Balance the books fun

por Talha Kachchhi

What is the basic accounting equation?

Assets = Liabilities + Equity

Assets = Incomes + Expenses

Assets + Liabilities = Equity

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

Assets decrease; Equity increases

Liabilities increase; Assets stay same

Assets and Equity both increase

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

Total assets stay the same

Liabilities increase

Equity decreases

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

Assets increase and Liabilities increase

Assets increase only

Equity increases only

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

Liabilities increase

Assets increase; Equity increases

Assets decrease; Equity decreases

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

Assets decrease; Equity decreases

Liabilities decrease

Assets increase; Equity increases

Revenue earned on account 10,000. What happens?

Assets increase; Equity decreases

Liabilities increase

Assets increase; Equity increases

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

Assets decrease; Equity decreases

Assets increase; Equity increases

Liabilities decrease

Issue shares for 15,000 cash. Impact?

Assets decrease; Equity increases

Assets and Equity increase

Liabilities increase

Borrow from supplier on credit 8,000. Change?

Assets decrease; Liabilities decrease

Assets increase; Equity unchanged

Assets increase; Liabilities increase

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Accounting Equation Mastery

Froggy Jumps

Sobre esta actividad

Creada por

Descarga la versión para jugar en papel

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Froggy Jumps

Accounting Equation MasteryVersión en línea

por 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?

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