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.

## Not ready for the basic accounting equation quiz?

If you need a refresher course on this topic update your knowledge using our tutorial on the basic accounting equation.

## Start the Basic Accounting Equation Quiz

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

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

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 = ?

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 = ?

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

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

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

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

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 = ?

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

Assets = 12976 Liabilities = 3202 Capital = ? Retained Earnings = 8574

Wrong

Wrong

Right!

## Try Another Double Entry Bookkeeping Quiz

Random bookkeeping quizzes for you to test your knowledge.

- Quiz 64: Normal Balance Side Quiz
- Quiz 29: Break Even Quiz
- Quiz 46: Accounting Classification Quiz
- Quiz 45: Accounting Debit and Credit Quiz

Last modified December 14th, 2016