Humanities Department

Worksheet

A/ Accounting equation:
1. Assets = Liabilities + Owner’s Equity

• $30,000 = _______ + $10,000

• $28,000 = $18,500 + _______

• _____= $17,300 + $12,0004.

2. If Assets = $85,000 and Owner’s Equity = $14,000, what is the value of Liabilities?
_____________________________________________________________________________
_______________________________________________________________________

3. If Liabilities = $56,400 and Owner’s, Equity = $34, 350, what is the value of Assets?
_____________________________________________________________________________
_______________________________________________________________________

4. If Assets = $34,890 and Liabilities = $20,000, what is the value of Owner’s Equity?
__________________________________________________________________________
__________________________________________________________________________
_________________________________________________________________

B/ Analyze the business transactions:

WORKSHEET 1 MS SANA BENHAMOUDA

 Humanities Department

v Transaction1:

• Rashed invested 200,000 Dhs from personal saving to open a new business.

Dr Cr Dr Cr

v Transaction2:
• Rashed transferred two tables valued of 400 Dhs each from his home to his business.

Dr Cr Dr Cr

C/ Complete the table below:

Does owner’s equity increase

Type of transaction Transaction description
or decrease?

Revenue

Expense
.

Investment

Withdrawal

D/ Problem solving:
WORKSHEET 1 MS SANA BENHAMOUDA
 Humanities Department

1. Ahmed invested 150,000 AED in his new business.

2. He bought new equipment for his business on account for 10,000 AED.
3. Ahmed sold a computer on account to Hamad for 4,000 AED.
4. Paid 3,000 AED for advertising in the local newspaper.
5. Received 2,500 AED as payment for preparing a report.
6. Wrote a check for the month’s rent for 3,000 AED.
7. Ahmed withdrew 2000 for his personal use

Trans Assets Liabilities Owner’s

equity
Cash + Accounts + Computer + Office = Accounts + Jan
In receivable Equipment Furniture payable Swift
Bank Capital
1

Balance

WORKSHEET 1 MS SANA BENHAMOUDA