Quiz 36: Basic Accounting Equation Quiz

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

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

1. Using the basic accounting equation identify the missing item.
Assets = 1700 Liabilities = ? Capital = 200 Retained Earnings = 500
Wrong
Right!
Wrong
2. Using the basic accounting equation identify the missing item.
Assets = 9000 Liabilities = 5000 Capital = ? Retained Earnings = -1000
Right!
Wrong
Wrong
3. Using the basic accounting equation identify the missing item.
Assets = 4850 Liabilities = 1250 Capital = 600 Retained Earnings = ?
Wrong
Right!
Wrong

 

4. Using the basic accounting equation identify the missing item.
Assets = 8969 Liabilities = 13738 Capital = 1000 Retained Earnings = ?
Wrong
Wrong
Right!
5. Using the basic accounting equation identify the missing item.
Assets = ? Liabilities = 3000 Capital = 20000 Retained Earnings = -6039
Wrong
Wrong
Right!
6. Using the basic accounting equation identify the missing item.
Assets = 15838 Liabilities = 2000 Capital = ? Retained Earnings = 3838
Right!
Wrong
Wrong
7. Using the basic accounting equation identify the missing item.
Assets = 23777 Liabilities = ? Capital = 9000 Retained Earnings = 9394
Wrong
Right!
Wrong
8. Using the basic accounting equation identify the missing item.
Assets = 6753 Liabilities = 3030 Capital = ? Retained Earnings = 2923
Right!
Wrong
Wrong
9. Using the basic accounting equation identify the missing item.
Assets = 32771 Liabilities = 39039 Capital = 100 Retained Earnings = ?
Right!
Wrong
Wrong
10. Using the basic accounting equation identify the missing item.
Assets = 12976 Liabilities = 3202 Capital = ? Retained Earnings = 8574
Wrong
Wrong
Right!

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Last modified December 14th, 2016 by Team

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