ACCOUNTING EQUATION
Authored by MAISARAH RAHIM
Business
1st - 5th Grade
Used 6+ times
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15 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Show the effect upon assets, liabilities, capital, revenues and expenses for each of the following transactions.
a. Start a business with RM10,000 in the bank
a. Asset (Bank) increase RM10,000
b. Asset (Business) increase RM10,000
c. Capital (Owner Equity) increase RM10,000
d. Liability (Bank) increase RM10,000
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Show the effect upon assets, liabilities, capital, revenues and expenses for each of the following transactions.
b. Bought goods on credit from Amirul Sdn.Bhd RM1,000
Expenses (Purchase) increase RM1,000
Asset (Debtor) increase RM1,000
Liability (Creditor) increase RM1,000
Asset (Debtor) decrease RM1,000
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Show the effect upon assets, liabilities, capital, revenues and expenses for each of the following transactions.
c. Bought goods from Ali paying by cheque RM500
Asset (Debtor) increase RM500
Asset (Bank) decrease RM500
Liability (Payable Ali) increase RM500
Expenses (Purchase) increase RM500
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Show the effect upon assets, liabilities, capital, revenues, and expenses for each of the following transactions.
d. Purchase motor van using loan from BMF Finance RM15,000
Expenses (Purchase) increase RM15,000
Asset (Motor Van) increase RM15,000
Asset (Bank) decrease RM15000
Liability (Loan BMF) increase RM15000
5.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Show the effect upon assets, liabilities, capital, revenues and expenses for each of the following transactions.
e. Sold goods on credit to Hasan RM2,000
Liability (Payable Hasan) increase RM2,000
Asset (Receivable Hasan) increase RM2,000
Revenue (Sale) increase RM2,000
Revenue (Sale) decrease RM2,000
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Show the effect upon assets, liabilities, capital, revenues and expenses for each of the following transactions.
f. Cash sales to Mutu RM250
Asset (Receivable Mutu) increase RM250
Asset (Cash) decrease RM250
Revenue (Sale) increase RM250
Asset (Cash) increase RM250
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Show the effect upon assets, liabilities, capital, revenues, and expenses for each of the following transactions.
g. Mutu returned goods and received a cash refund of RM20
Asset (Cash) increase RM20
Asset (Receivable Mutu) decrease RM20
Asset (Cash) decrease RM20
Expense (Sale Return ) increase RM20
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