Scribd
Upload
281 views2 pages

Basic Accounting Equation - Worksheet

The document outlines the basic accounting equation and provides a worksheet to classify example accounting items as assets, liabilities, or owner's equity. Assets are items owned that have value, liabilities are obligations or debts owed, and owner's equity represents the owner's claim on assets after deducting liabilities. The worksheet contains over 30 items to categorize according to the accounting equation of assets = liabilities + owner's equity.

Uploaded by

Jihah Zanuddin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
281 views2 pages

Basic Accounting Equation - Worksheet

The document outlines the basic accounting equation and provides a worksheet to classify example accounting items as assets, liabilities, or owner's equity. Assets are items owned that have value, liabilities are obligations or debts owed, and owner's equity represents the owner's claim on assets after deducting liabilities. The worksheet contains over 30 items to categorize according to the accounting equation of assets = liabilities + owner's equity.

Uploaded by

Jihah Zanuddin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Basic Accounting Equation –Worksheet

Accounting Equation

Capital
Assets Liabilities Owner’s Equity
= + Revenues

Expenses

Drawings

Classify each item and tick (√) in the appropriate column.


ITEM ASSETS = LIABILITIES + OWNER’S EQUITY
Capital Revenues Expenses Drawings
Cash
Accounts payable
Share capital
Accounts receivable
Equipment
Cash drawings
Van
Employee salaries
Notes payable
Interest revenue
Inventory
Freight out
Sales
Purchases
Commissions revenue
Utilities expenses
Sales returns and allowances
Purchases discounts
Purchases returns and allowances
Insurance expenses
Service revenue
Retained earnings
Common stock
Depreciation expenses-Equipment
Mortgage
Long term debt
Freight in
Investments
Patents
Bank
Supplies Expenses
Overdraft
Supplies

You might also like