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Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, '-', equity.

Draggable Card,Common Stock

Draggable Card,Cash

Draggable Card,Dividends

Draggable Card,Accounts Receivable

Draggable Card,Assets

Answer Field,Empty Droppable Area,Group 1,

Draggable Card,Liabilities

Answer Field,Empty Droppable Area,Group 2,

Draggable Card,Accounts Payable

Answer Field,Empty Droppable Area,Group 3,

Draggable Card,Unearned Revenues

Answer Field,Empty Droppable Area,Group 4,

Draggable Card,Revenues

Answer Field,Empty Droppable Area,Group 5,

Draggable Card,Expenses

Answer Field,Empty Droppable Area,Group 6,

Enter the missing value to balance the equation.

equals44,000plus13,000minus42,000plus9,000minus9,000

73,800equalsplus10,000minus3,000plus27,000minus200

88,000equals49,000plusminus9,000plus34,000minus18,000

Identify the part of the expanded accounting equation for each account title.

Prepaid Rent - Asset Common Stock Dividends Expense Liability Revenue

Common Stock - Asset Common Stock Dividends Expense Liability Revenue

Dividends - Asset Common Stock Dividends Expense Liability Revenue

Insurance Expense - Asset Common Stock Dividends Expense Liability Revenue

Interest Payable - Asset Common Stock Dividends Expense Liability Revenue

Interest Revenue - Asset Common Stock Dividends Expense Liability Revenue

Build a T-account for each account title. Label the DR (debit), CR (credit), NB (normal balance), and + or -.

Draggable Card Debit

not selected

DebitDraggable Card Normal Balance

not selected

Normal BalanceDraggable Card Credit

not selected

CreditAccounts Receivable

not selectednot selected

Left Accounts Receivable

not selectednot selected

Right Accounts Receivable

Common Stock

not selectednot selected

Left Common Stock

not selectednot selected

Right Common Stock

Dividends

not selectednot selected

Left Dividends

not selectednot selected

Right Dividends

Repairs and Maintenance Expense

not selectednot selected

Left Repairs and Maintenance Expense

not selectednot selected

Right Repairs and Maintenance Expense

Unearned Revenue

not selectednot selected

Left Unearned Revenue

not selectednot selected

Right Unearned Revenue

Interest Revenue

not selectednot selected

Left Interest Revenue

not selectednot selected

Right Interest Revenue

A T is drawn. The vertical line divides the account into its left and right sides. The left side of the T-account is called the debit side and the right side is called the credit side. The account name is at the top, above the horizontal line.

Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions.

	Assets	Liabilities
Beginning of Year:	$28,000	$15,000
End of Year:	$61,000	$26,000

1) What is the equity at the beginning of the year?

Beginning Equity

2) What is the equity at the end of the year?

Ending Equity

3) If the company issues common stock of $5,100 and pay dividends of $36,700, how much is net income (loss)?

Net Income (Loss)

4) If net income is $2,500 and dividends are $8,900, how much is common stock?

Common Stock

5) If the company issues common stock of $16,600 and net income is $18,200, how much is dividends?

Dividends

6) If the company issues common stock of $43,000 and pay dividends of $3,400, how much is net income (loss)?

Net Income (Loss)