Expanded Accounting Equation Worksheet

The expanded accounting equation provides more details for the owners equity amount shown in the basic accounting equation. The stockholders equity part of the basic accounting equation can also be expanded to show the accounts that make up stockholders equity.

Debits And Credits And The Expanded Accounting Equation Masterlist

Definition of expanded accounting equation.

Expanded accounting equation worksheet. The expanded accounting equation of sole proprietorship and partnership is accounting equation assets liabilities owners equity expenses revenue drawings account. Some of the worksheets displayed are what are the 11 basic accounting formulas accounting equation accounting lesson plan accounting equation corporation net worth definitions chapter basic financial 3 accounting accounting test question with answers on accounting practice set the accounting equation. Hence the accounting equation for a sole proprietorship can be rewritten as.

Paid in capital revenues expenses dividends and treasury stock. Both the assets and liabilities section of the basic equation remains the same in the expanded equation. Grade 10 lesson 8 sole trader accounting equation expanded accounting equation accountingcoach accounting equation example problem you quiz worksheet components of the accounting equation study com grade 10 lesson 8 sole trader accounting equation expanded accounting equation accountingcoach accounting equation example problem you quiz worksheet components of the accounting equation study com.

Instead of the accounting equation assets liabilities stockholders equity. The expanded accounting equation for a sole proprietorship is. Assets liabilities capital withdrawals income expenses owners contributions are recorded directly into capital.

Use the accounting equation to calculate the answers in each of the following. Expanded accounting equation for a corporation. A tom jones capital as of december 31 2009 b tom jones capital as of december 31 2010 assuming that assets increased by 120000 and liabilities increased by 72000 during 2010.

What is the expanded accounting equation. In case of company business the expanded accounting equation in the balance sheet equation assets liabilities stockholders equity. Thus additional contributions are already included in capital.

The expanded accounting equation takes the basic accounting equation and splits equity into its four main elements. Showing top 8 worksheets in the category accounting equation. Owners capital owners withdrawals revenues and expenses.

Assets liabilities owners capital revenues expenses owners draws.

Week 4 Preparing The Trial Balance And The Balance Sheet View As