STRUCTURE OF A BALANCE SHEET EXAM
A balance sheet has specific parts an is organized around a Basic Accounting Equation. This exercise will reinforce your understanding of its parts and how it is organized.
- 1) Print out this sheet
- 2) Fill in the name of each category of asset and liability,
ie. the answer to 1. under assets is: current asset
- 3) Give a short definition of each category
- 4) Provide a short list of examples
- 5) Complete the equation on the bottom
- 6) No numbers are to be used on this page! Find the answers as terms or phrases!
Remember: There are NO NUMBERS used to fill in any blank on this page!
Submit this page for a grade by mailing to:
- Karen Harlan
- PO Box 1475
- Seagraves, TX 79359