Ch3.3 Accounting Equation 3E
Authored by Chwoon Tan
Business
7th - 12th Grade
Used 6+ times
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15 questions
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1.
FILL IN THE BLANKS QUESTION
20 sec • 1 pt
Asset = Liability + (a)
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 BLANKS QUESTION
1 min • 1 pt
If assets is $500 and liabilities is $300, how much is equity?
(a)
4.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
If equity is $400 and liabilities is $300, how much is asset?
(a)
5.
FILL IN THE BLANKS 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 $ (a)
6.
FILL IN THE BLANKS 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 $ (a)
7.
FILL IN THE BLANKS 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 $ (a)
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