Accounting Equation Worksheets | No Prep Accounting Activities ... - Free Printable

Explanation:
We need to solve two parts of the worksheet using the accounting equation:
Assets = Liabilities + Equity

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Part 1: Fill in missing numbers in the table (rows 1–10)

For each row, use:
- If Assets and Liabilities are known → Equity = Assets − Liabilities
- If Assets and Equity are known → Liabilities = Assets − Equity
- If Liabilities and Equity are known → Assets = Liabilities + Equity

Let’s go row by row:

1. Assets = $80,000, Liabilities = $35,000
→ Equity = 80,000 − 35,000 = $45,000

2. Liabilities = $88,000, Equity = $25,000
→ Assets = 88,000 + 25,000 = $113,000

3. Assets = $105,000, Equity = $40,000
→ Liabilities = 105,000 − 40,000 = $65,000

4. Assets = $15,000, Liabilities = $5,000
→ Equity = 15,000 − 5,000 = $10,000

5. Assets = $200,000, Equity = $75,000
→ Liabilities = 200,000 − 75,000 = $125,000

6. Assets = $150,000, Liabilities = $75,000
→ Equity = 150,000 − 75,000 = $75,000

7. Liabilities = $300,000, Equity = $280,000
→ Assets = 300,000 + 280,000 = $580,000

8. Assets = $450,000, Liabilities = $125,000
→ Equity = 450,000 − 125,000 = $325,000

9. Assets = $320,000, Equity = $120,000
→ Liabilities = 320,000 − 120,000 = $200,000

10. Liabilities = $90,000, Equity = $90,000
→ Assets = 90,000 + 90,000 = $180,000

✔ All rows now filled.

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Part 2: Calculate total Assets, Liabilities, Equity from given accounts

Given:
- Accounts payable = $10,000 → Liability
- Accounts receivable = $70,000 → Asset
- Retained earnings = $100,000 → Equity
- Cash = $20,000 → Asset
- Investments = $15,000 → Asset

Now sum:

11.) Assets = Accounts receivable + Cash + Investments
= 70,000 + 20,000 + 15,000 = $105,000

12.) Liabilities = Accounts payable = $10,000

13.) Equity = Retained earnings = $100,000

14.) Check if A = L + E:
105,000 = 10,000 + 100,000 → Yes, it balances.
So nothing is missing — the amount missing is $0.

Wait — but the question says: *“What amount is missing to make the accounting equation balance?”*
Since 105,000 = 10,000 + 100,000, it's already balanced. So missing amount = $0.

But let’s double-check: Are there any other equity items? Only retained earnings is listed. In basic worksheets like this, unless stated otherwise, we assume only the given items count.

So yes — total assets = 105,000; liabilities = 10,000; equity = 100,000 → balanced.

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Part 3: Analyze transactions (right side)

Transaction 1: Invested $5,000 in business
→ Cash (asset) increases by $5,000; Owner’s equity increases by $5,000
So:
Assets = +$5,000
Liabilities = $0
Equity = +$5,000

Transaction 2: Purchased office supplies on credit for $800
→ Supplies (asset) +$800; Accounts payable (liability) +$800
Assets = +$800
Liabilities = +$800
Equity = $0

Transaction 3: Received $2,000 from customer for services rendered
→ Cash (asset) +$2,000; Revenue increases equity by $2,000
Assets = +$2,000
Liabilities = $0
Equity = +$2,000

Transaction 4: Paid $1,200 cash for rent
→ Cash (asset) −$1,200; Rent expense reduces equity by $1,200
Assets = −$1,200
Liabilities = $0
Equity = −$1,200

Transaction 5: Borrowed $3,500 from a bank
→ Cash (asset) +$3,500; Loan payable (liability) +$3,500
Assets = +$3,500
Liabilities = +$3,500
Equity = $0

But the worksheet only asks to fill in the final values *after each transaction*, starting from zero (assuming beginning balances = 0). So for each transaction, compute cumulative effect.

Let’s track cumulative totals after each transaction:

Start: A = 0, L = 0, E = 0

After T1:
A = 5,000
L = 0
E = 5,000

After T2:
A = 5,000 + 800 = 5,800
L = 0 + 800 = 800
E = 5,000
→ Check: 5,800 = 800 + 5,000 ✔

After T3:
A = 5,800 + 2,000 = 7,800
L = 800
E = 5,000 + 2,000 = 7,000
→ 7,800 = 800 + 7,000 ✔

After T4:
A = 7,800 − 1,200 = 6,600
L = 800
E = 7,000 − 1,200 = 5,800
→ 6,600 = 800 + 5,800 ✔

After T5:
A = 6,600 + 3,500 = 10,100
L = 800 + 3,500 = 4,300
E = 5,800
→ 10,100 = 4,300 + 5,800 = 10,100 ✔

So final answers for right-side transactions:

Transaction 1:
Assets = $5,000
Liabilities = $0
Equity = $5,000

Transaction 2:
Assets = $5,800
Liabilities = $800
Equity = $5,000

Wait — no! The instruction says: *“Determine how the given transactions impact the accounting equation.”*
And each transaction is separate — likely they want the *change* caused by that transaction alone, not cumulative.

Re-read: “Transaction 1: Invested $5,00’t in the business. Assets = ? Liabilities = ? Equity = ?”

In most intro worksheets, they expect the *net effect of that single transaction*, assuming starting from zero or prior balances unchanged.

Standard interpretation: For each transaction, show the change (or new total if starting from zero). Since no beginning balances given, safest is to report the amounts *resulting from that transaction alone*, i.e., the increase/decrease.

But the format shows blank lines for Assets, Liabilities, Equity — and in similar worksheets, they expect the absolute values *after* that transaction, assuming prior = 0.

Let’s verify with Transaction 1: Investing $5,000 → you get $5,000 cash (asset), and owner’s capital (equity) +$5,000. So Assets = 5,000, Liabilities = 0, Equity = 5,000.

Transaction 2: Supplies +800 (asset), AP +800 (liability), equity unchanged. So Assets = 800, Liabilities = 800, Equity = 0 — *if considered in isolation*. But that contradicts cumulative approach.

However, the worksheet lists them separately, and doesn’t say “cumulative”, so likely each is independent — i.e., what does *this one transaction* do to A, L, E?

Yes — standard teaching: Each transaction is analyzed alone. So:

Transaction 1:
Assets ↑ $5,000 → Assets = $5,000
Liabilities = $0
Equity ↑ $5,000 → Equity = $5,000

Transaction 2:
Assets ↑ $800 (supplies) → Assets = $800
Liabilities ↑ $800 (AP) → Liabilities = $800
Equity = $0

Transaction 3:
Assets ↑ $2,000 (cash) → Assets = $2,000
Liabilities = $0
Equity ↑ $2,000 (revenue) → Equity = $2,000

Transaction 4:
Assets ↓ $1,200 (cash paid) → Assets = −$1,200
Liabilities = $0
Equity ↓ $1,200 (expense) → Equity = −$1,200

But negative assets? Usually we avoid negative asset values; instead, we show change: “Assets decrease by $1,200”, but the blank expects a number. In many worksheets, they accept negative for equity/expense impact, but assets are usually shown as positive changes.

Actually, looking at typical no-prep worksheets like this, they expect the *net effect* as positive numbers where increased, and for decreases, they may still write the amount with sign or just magnitude — but the blank is just “Assets = ___”, so likely they want the *change*, and since it's a decrease, it's −$1,200.

However, to avoid confusion, let’s check consistency: In transaction 4, paying rent reduces cash (an asset) and reduces equity. So:
Assets = −$1,200
Liabilities = $0
Equity = −$1,200

Similarly, transaction 5:
Assets = +$3,500
Liabilities = +$3,500
Equity = $0

This is the correct accounting treatment per transaction.

But the problem may expect just the amounts added/changed — and since the question says “Determine how the given transactions impact”, the answer should be the change (could be negative).

However, in the left table, all numbers are positive, and missing values are positive amounts. For Q14, missing amount is $0.

Given the context is a middle/high school worksheet, and they haven’t introduced negative asset values, it's more likely they want the *new total* after each transaction, assuming we start from zero and apply only that transaction — meaning:

- T1: A=5,000; L=0; E=5,000
- T2: A=800; L=800; E=0
- T3: A=2,000; L=0; E=2,000
- T4: A=−1,200? Unlikely. Alternative: They might expect absolute value and note decrease, but blanks don’t have signs.

Wait — look back at the left side: all entries are positive numbers. And question 14 asks “What amount is missing” — implying a single number.

Given the user only asked to “solve the problem accurately”, and the main computable numeric answers are:

- Rows 1–10 missing values (we computed)
- Q11–14: Assets = 105,000; Liabilities = 10,000; Equity = 100,000; Missing = 0

Since the instruction says “Solve the problem”, and the most concrete answers requested are in the left section (especially Q11–14), and the right side is additional practice, but the final explicit questions are 11–14, I believe the expected final answer is for question 14: $0

But the user didn’t specify which part — however, the worksheet ends with:
11.) Assets
12.) Liabilities
13.) Equity
14.) What amount is missing...

And those are the only numbered questions at the bottom.

So the key final numeric answer they likely want is for #14: the missing amount to balance A = L + E.

We have:
Assets = 105,000
Liabilities = 10,000
Equity = 100,000
105,000 = 10,000 + 100,000 → difference = 0

Final Answer: 0