Accounting Equation

accounting equation quiz

Quiz 16: Accounting Equation Problems Quiz

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

Last modified November 6th, 2019 by Michael Brown
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property and financial claims

Property and Financial Claims

Double entry bookkeeping and accounting are based on the fundamental premise that for each property a business has there will be an equal financial claim on that property, and that both property and financial claims are measured in monetary amounts.

Last modified October 4th, 2019 by Michael Brown
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the accounting equation

The Accounting Equation Table

The accounting equation table below acts as a quick reference to help show you the effects of typical start-up business transactions on the accounting equation.

Last modified March 20th, 2023 by Michael Brown
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accounting equation exercises

Quiz 9: Accounting Equation Exercises

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

Last modified December 4th, 2019 by Michael Brown
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accounting equation quiz

Quiz 2: Accounting Equation Quiz

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

Last modified October 1st, 2019 by Michael Brown
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expanded accounting equation v 1.1

Basic Accounting Equation

Double entry bookkeeping and accounting is based on the basic accounting equation which states that the total assets of a business must equal the total liabilities plus the owners equity in the business.

The basic accounting equation can be expanded by recognizing that the owners equity represents the capital injected into the business together with the retained earnings, effectively providing a link between the balance sheet and the income statement.

Last modified October 11th, 2022 by Michael Brown
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