Accounting Equation

Front

Cash is a ....

Back

Asset

Front

any "Payable" Account is

Back

Liability

Front

What a company owns is referred to Owners

Back

Equity

Front

The money value of a property or of an interest in property in excess of any claims or liens (as mortgage indebtedness)

Back

Equity

Front

The Balance sheet must "always" balance

Back

True

Front

Find the missing amount:
Assets = 1500
Liabilities = 1000
Owner Equity =

Back

500

Front

Find the missing amount: Assets = 100 Liabilities = Owner Equity = 200

Back

-100

Front

Find the missing amount:
Assets = 800
Liabilities = -200
Owner Equity = ?

Back

1000

Front

Find the missing amount: Assets = ? Liabilities = -10 Owner Equity = 90

Back

80

Front

Find the missing amount: Assets = ? Liabilities = -200 Owner Equity = 700

Back

500