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Accounting Equation Masterclass

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Accounting Equation Masterclass

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Test your understanding of capital, drawings, and profits.

Created by

poa
poa
Pakistan

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Accounting Equation Masterclass
 

Accounting Equation MasterclassOnline version

Test your understanding of capital, drawings, and profits.

by poa
1

Step-Up Profit: Opening Capital is 42000. Owner withdrew 500 monthly. Closing Capital is 58000. Find the Profit.

Written answer

2

Hidden Opening Fund: Start Assets (55k) & Liab (15k). End Assets (80k) & Liab (20k). No drawings. Find Profit.

Written answer

3

"The Reconciliation: Opening Cap 30000. Profit 12500. New Capital 5000. If Closing Cap is 41000, find Drawings."

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4

Backwards Equation: Closing Cap 75000. Drawings 12000. Profit 18000. Capital Introduced 10000. Find Opening Capital.

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5

Negative Equity: Start Liab (40k) exceed Assets (35k). End Assets are 60k and Liab 25k. No drawings. Find Profit.

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6

Step-Up Profit scenario restated: Opening 42000, closing 58000, monthly drawings 500. What is Profit?

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7

Hidden Opening Fund restated: Start 55k assets, 15k liabilities; End 80k assets, 20k liabilities. No drawings. What is Opening Capital?

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8

The Reconciliation restated: Opening Cap 30000, Profit 12500, New Cap 5000. If Closing Cap 41000, Drawings?

Written answer

9

Backwards Equation restated: Closing Cap 75000, Profit 18000, Introduced 10000, Drawings 12000. Opening Cap?

Written answer

10

Negative Equity restated: Start Liab 40k, Start Assets 35k; End Assets 60k, End Liab 25k. No drawings. Profit?

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