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  • Aliyah Ali - Principles of Accounts Lesson 2 The Accounting Equation

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    Nayyah Ali
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    The document provides exercises to classify items as assets or liabilities and complete an accounting equation table. For exercise 1, motor vehicles, stock of goods, debtors, cash in hand, machinery, and fixtures and fittings are classified as assets, while mortgaged premises, creditors, owing to bank, and loan from D. Jones are classified as liabilities. Exercise 2 involves completing a table that balances total assets with total liabilities plus capital for 6 rows of accounting equations.

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    Aliyah Ali - Principles of Accounts Lesson 2 the Accounting Equation

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    The document provides exercises to classify items as assets or liabilities and complete an accounting equation table. For exercise 1, motor vehicles, stock of goods, debtors, cash in hand, machinery, and fixtures and fittings are classified as assets, while mortgaged premises, creditors, owing to bank, and loan from D. Jones are classified as liabilities. Exercise 2 involves completing a table that balances total assets with total liabilities plus capital for 6 rows of accounting equations.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    9 views2 pages

    Aliyah Ali - Principles of Accounts Lesson 2 The Accounting Equation

    Uploaded by

    Nayyah Ali
    The document provides exercises to classify items as assets or liabilities and complete an accounting equation table. For exercise 1, motor vehicles, stock of goods, debtors, cash in hand, machinery, and fixtures and fittings are classified as assets, while mortgaged premises, creditors, owing to bank, and loan from D. Jones are classified as liabilities. Exercise 2 involves completing a table that balances total assets with total liabilities plus capital for 6 rows of accounting equations.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 2

    Exercise 1: Classify the following Items into Assets and Liabilities

    Motor Vehicles Owing to Bank


    Mortgaged Premises Cash in Hand
    Creditors Loan from D. Jones
    Stock of Goods Machinery
    Debtors Fixtures and Fittings

    Exercise 2: Complete the table below Using the Accounting Equation

    ASSETS $
    12, 500
    28, 000
    16, 800
    19, 600
    25,500
    51,400
    nto Assets and Liabilities

    ASSETS LIABILITES
    Motor Vehicles Mortgaged Premises
    Stock of Goods Creditors
    Debtors Owing to Bank
    Cash in Hand Loan from D. Jones
    Machinery
    Fixtures and Fittings

    ng the Accounting Equation

    LIABILITES $ CAPITAL $
    1, 800 10,700
    4, 900 23,100
    4,300 12, 500
    3,150 16, 450
    6, 300 19, 200
    11, 650 39, 750

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