Account Classification Challenge

Froggy Jumps

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About this activity

Test your knowledge of accounting categories.

Created by

Rebecca

New Zealand

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Account Classification Challenge


Froggy Jumps Account Classification ChallengeOnline version Test your knowledge of accounting categories. by Rebecca 1 What type of account is Bank a Equity b Asset c Liability 2 What type is account is a loan a Liability b Equity c Asset 3 What type of account involves the owners dealing with the business? a Assets b Equity c Liabilities 4 What type of account is stock? a Liability b Equity c Asset 5 What type of account is Accounts receivable? a Equity b Liability c Asset 6 What type of account is Accounts payable? a Assets b Liability c Equity 7 What two accounts are impacted by the owner investing cash into the business? a Capital and Stock b Bank and Stock c Bank and Capital 8 Which two accounts are impacted by the sale of stock for cash? a Stock and Accounts Receieveble b Stock and Equity c Stock and Bank 9 What two accounts are impacted by purchasing equipment on credit a Equipment and Bank b Equipment and Accounts Payable c Equipment and Accounts Receivable 10 What two accounts are affected by the sale of stock on credit a Stock and Accounts payable b Stock and Accounts Payable c Stock and Bank 11 What two accounts are impacted by the owner investing cash into the business a Stock and Capital b Bank and Loan c Bank and Capital 12 What two accounts are impacted by the Business taking out a bank loan a Loan and Bank b Loan and Accounts Receivable c Loan and Capital 13 What two accounts are impacted by the owner taking home stock for personal use a Equity and Stock b Equity and Bank c Stock and Accounts Receievebale 14 What is the correct Accounting Equation a A = L - EQ b A + L = EQ c A = L + EQ

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Account Classification Challenge

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Account Classification ChallengeOnline version

by Rebecca

What type of account is Bank

What type is account is a loan

What type of account involves the owners dealing with the business?

What type of account is stock?

What type of account is Accounts receivable?

What type of account is Accounts payable?

What two accounts are impacted by the owner investing cash into the business?

Which two accounts are impacted by the sale of stock for cash?

What two accounts are impacted by purchasing equipment on credit

What two accounts are affected by the sale of stock on credit

What two accounts are impacted by the owner investing cash into the business

What two accounts are impacted by the Business taking out a bank loan

What two accounts are impacted by the owner taking home stock for personal use

What is the correct Accounting Equation