True or False
Assets =Liabilities + Capital
What is True?
According to the accounting equation, if Assets= $75.00 and Capital = $45.00, then Liabilities = _________________.
What is $30.00?
Calculate Assets if Liabilities = $405.00 and Capital = $100.00.
What is $505.00.
Which of these is classified as an asset?
a. Car
b. Car loan
c. Bank Loan
d. A rented apartment
What is "a. Car"?
Capital+ network+ Assets
What is False?
According to the accounting equation, if Liabilities = $120.00 and Capital= $$85.00, then Assets= ______________.
What is $205.00?
Assets = 140.00 and liabilities is half of assets then Capital is:
What is $70.00
Which of these is considered a liability?
a. A car that is owned
b. Your own house
c. Your yard space used for a lemonade stand
d. A rented house
What is "d. A rented house"?
A car loan is a liability
What is Fasle?
According to the accounting equation, if Assets = $140.00 and Capital is half of Assets, then Liabilities=______________.
What is $70.00
What is Paul's net worth if His assets is $45.50 and he owes his brother $24.75.
What is $24.75?
Net worth is:
a. Liabilities- Capital
b. Liabilities -Assets
c. Assets- Liabilities
d. Assets+ Liabilities
What is "c. Assets- Liabilities"?
My land used for a farming business is classified as capital
What is true?
Donald's assets = $305.00, He owes His bother $100.00 less than this, and he owes his best friend $50.00. His net worth is _________.
What is $155.00
Calculate net worth if your assets is $50.00 and your liabilities $45.70.
What is $4.30?
Assets of $300 and $100 is owed to the bank, $27.00 is owed to a good friend and $200.00 then
a. net worth is positive
b. net worth is negative
c. Assets are more than liabilities
d. Liabilities are equal to assets
What is "net worth is negative"?
A networth of -$43.00 means that liabilities are less than assets
What is false?
A ___________ ____________ shows a snapshot business' assets, liabilities and capital at any one point in time.
What is a balance sheet?
What is net worth if assets = $155 and liabilities is twice that amount?
What is -$155?
A networth of zero means that:
a. Assets = Liabilities
b. Assets + Liabilities
c. Liabilites are zero.
d. Assets are zero
What is "a. Assets = Liabilities"?