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WorksheetsBalance Sheet
Total questions: 10
Worksheet time: 5mins
Which one is right?
Asset = Owner's equity + Liability
Asset = Owner's equity - Liability
Asset + Owner's equity = Liability
Asset + Owner's equity = expense
What is balance sheet?
A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.
A Balance sheet is one of a company's core financial sheet that shows their profit and lossProfit and Loss
Which one is not belongs to liability?
Mobile Phone Bill
Bank Loan
Bank Balance
Owed To Friends
What's the order of three W?
What - When - who
Who - What - When
When - Who - What
Mr.W has current assets of $500 and total assets of $1500. ABC has current liabilities of $300 and total liabilities of $800. What is the amount of ABC's owner's equity
200
700
900
800
Which of the following would normally be a current liability?
Note Payable Due In Two Years
Unearned Revenue
The balance sheet heading will specify a
Period Of Time
Point In Time
What is the normal balance for contra asset accounts?
Debit
Credit
The third line of the balance sheet at the end of the year should begin with "For the Year Ended".
True
False
Dose expense in the liability/Assets account?
Assets
Liability
