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- 1. Fill in the Blank
Asset = Liability + ______
- 2. Multiple Choice
State the accounting equation
Asset = Liability - Equity
Asset +Liability = Equity
Asset = Liability X Equity
Asset = Liability + Equity
- 3. Fill in the Blank
If assets is $500 and liabilities is $300, how much is equity?
- 4. Fill in the Blank
If equity is $400 and liabilities is $300, how much is asset?
- 5. Fill in the Blank
On 1 January 2021, the balances of ABC Trading are as follow:
Inventory $500
Cash at bank $200
Bank loan $100
Calculate the capital on 1 January 2021.
Capital is $___________
- 6. Fill in the Blank
On 1 February 2021, the balances of ABC Trading are as follow:
Inventory $600
Cash at bank ?
Furniture $250
Capital $1000
Calculate the cash at bank on 1 February 2021.
Cash at bank is $___________
- 7. Fill in the Blank
On 1 March 2021, the balances of ABC Trading are as follow:
Equipment $900
Cash at bank ?
Inventory $250
Capital $1000
Trade payable $200
Calculate the cash at bank on 1 March 2021.
Cash at bank is $___________
- 8. Fill in the Blank
On 1 April 2021, the balances of ABC Trading are as follow:
Inventory $900
Cash at bank $500
Salaries expense $250
Capital $1000
Trade payable $200
Trade receivable $700
Sales revenue $1600
Cost of sales $180
Drawings ?
Calculate the drawings on 1 April 2021.
drawings is $___________
- 9. Fill in the Blank
Cash at bank is $___
- 10. Fill in the Blank
Drawings is $___
- 11. Fill in the Blank
If assets is $700, liabilities is $300, capital $500, how much is drawings?
- 12. Fill in the Blank
On 31 December 2020, the balances of ABC Trading are as follow:
Motor vehicle $1500
Cash at bank $200
Capital $900
Mortgage loan ?
Calculate the mortgage loan on 31 December 2021.
Mortgage loan is $___________
- 13. Fill in the Blank
On 30 November 2020, the balances of ABC Trading are as follow:
Inventory $1500
Cash in hand ?
Capital $900
Trade payable $1200
Calculate the cash in hand on 30 November 2020.
Cash in hand is $___________
- 14. Multiple Choice
Asset $900, liabilities $200, capital will be _______
$700
$1100
$900
$18 000
- 15. Poll
Which type of assessment do you prefer?
Prefer to do quiz in hard copy with pen and pencil
Enjoy online quiz
No preference
I like both
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