BMSH2301

Name: Section:
Date: Score:

Individual Activity

I. Fill in the Blanks (10 Items x 1 point)

Fill in the blanks below by completing the accounting equation that involves assets, liabilities, and equity.

ASSETS LIABILITIES EQUITY

1. P 235,000 P 175,000
2. P 225,000 P 250,000
3. P 515,000 P 195,000
4. P 150,000 P 550,000
5. P 475,000 P 195,000
6. P 495,000 P 575,000
7. P 550,000 P 250,000
8. P 765,000 P 525,000
9. P 195,000 P 545,000
10. P 935,000 P 495,000

II. Identification (15 Items x 1 point)

Determine the correct category of the following accounts listed below. Use an “X” mark to answer.

ACCOUNTS ASSETS LIABILITIES EQUITY REVENUE EXPENSES

Ex. Cash X
1. Ticket Sales
2. Accounts Receivable
3. Notes Payable
4. Interest Income
5. Mara’s Capital
6. Mortgage Payable
7. Purchase of Supplies
8. Unearned Revenues
9. Prepaid Expense
10. Equipment
11. Retained Earnings
12. Commissions Earned
13. Freight In
14. Mara’s Withdrawal
15. Utilities Expense

04 Activity 1 *Property of STI

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