Quiz 67: Expanded Accounting Equation Quiz

The expanded accounting equation is fundamental to an understanding of double entry bookkeeping transactions. Test your knowledge of double entry bookkeeping and accounting with our online expanded accounting equation quiz.

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1. Using the expanded accounting equation identify the missing item.
Assets = 400
Expenses = 200
Drawings = 200
Liabilities = ?
Capital = 200
Revenue = 500
Wrong
Right!
Wrong
2. Using the expanded accounting equation identify the missing item.
Assets = ?
Expenses = 500
Drawings = 600
Liabilities = 200
Capital = 400
Revenue = 1,200
Right!
Wrong
Wrong
3. Using the expanded accounting equation identify the missing item.
Assets = 2,000
Expenses = ?
Drawings = 500
Liabilities = 500
Capital = 900
Revenue = 1,600
Wrong
Right!
Wrong

 

4. Using the expanded accounting equation identify the missing item.
Assets = 1,200
Expenses = 300
Drawings = ?
Liabilities = 800
Capital = 700
Revenue = 500
Wrong
Wrong
Right!
5. Using the expanded accounting equation identify the missing item.
Assets = 2,000
Expenses = 400
Drawings = 600
Liabilities = 1,400
Capital = ?
Revenue = 600
Wrong
Wrong
Right!
6. Using the expanded accounting equation identify the missing item.
Assets = 100
Expenses = 20
Drawings = 70
Liabilities = 10
Capital = 80
Revenue = ?
Right!
Wrong
Wrong
7. Using the expanded accounting equation identify the missing item.
Assets = 7,000
Expenses = 3,000
Drawings = 500
Liabilities = ?
Capital = 2,000
Revenue = 6,000
Wrong
Right!
Wrong
8. Using the expanded accounting equation identify the missing item.
Assets = ?
Expenses = 150
Drawings = 10
Liabilities = 160
Capital = 300
Revenue = 50
Right!
Wrong
Wrong
9. Using the expanded accounting equation identify the missing item.
Assets = 400
Expenses = ?
Drawings = 100
Liabilities = 550
Capital = 150
Revenue = 400
Right!
Wrong
Wrong
10. Using the expanded accounting equation identify the missing item.
Assets = 1,000
Expenses = 200
Drawings = ?
Liabilities = 100
Capital = 600
Revenue = 500
Wrong
Wrong
Right!

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Last modified May 12th, 2020 by Michael Brown

About the Author

Chartered accountant Michael Brown is the founder and CEO of Plan Projections. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a BSc from Loughborough University.

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