Test your knowledge of the accounting equation with our online accounting equation problems quiz. There are three types of account that make up the accounting equation list, asset, liability, and capital, but do you know the effect of debits and credits on each?

## Not Ready for the Accounting Equation Problems Quiz?

If you need a refresher course on this topic you can view our accounting equation tutorials here.

## Start the Accounting Equation Problems Quiz

Click on an answer to reveal whether its Right! or Wrong

1. Using the accounting equation, if assets increase by 5,000 and liabilities decrease by 5,000 what is the change in owners equity?

Wrong

Right!

2. Using the accounting equation, if owners equity increases by 10,000 and liabilities decrease by 20,000, what do assets change by?

Right!

Wrong

3. Using the accounting equation, if assets increase by 5,000 and liabilities decrease by 5,000, what is the effect on owners equity.

Right!

Wrong

4. Using the accounting equation, if liabilities increase by 8,000 and equity increases by 7,000, what is the effect on assets?

Wrong

Right!

5. Using the accounting equation, if assets and liabilities both decrease by 4,000 what is the effect on owners equity?

Wrong

Right!

6. Using the accounting equation, if liabilities increase by 6,000 and equity reduces by 10,000, what is the change in assets?

Right!

Wrong

## Try Another Double Entry Bookkeeping Quiz

The accounting equation problems quiz is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping, discover another at the links below.

- Quiz 45: Accounting Debit and Credit Quiz
- Quiz 1: Bookkeeping Basics Quiz
- Quiz 53: Identify the Debit Entry
- Quiz 31: Costing – Direct Materials Variance

Last modified December 14th, 2016