3HD Mini Balansjes

• Economie
• Middelbare school
• havo
• Leerjaar 3

Assets go on the debit side of the balance

1. True
2. False

Liabilities go on the debit side of the balance

1. True
2. False

Your stock of clothes is a liability

1. True
2. False

Your Owner's Equity goes on the credit (liabilities) side of the balance

1. True
2. False

What are some examples of
things that go on the debit (assets) side?

Other than Owner's Equity, what else goes on the credit (liabilities) side?

In question 5.12, Sara receives a pin payment of 2100. The clothing she sold has a purchase value of 1000. To record this transaction, you need to enter changes for two things on the debit side (assets) and one on the credit side (liabilities). Which three do you need to change?

For 5.12 - what are the three entries you need to make? (stock of clothes, bank, and owner's equity)

For 5.12 - what is the change in the total? (don't forget + or -)

For 5.15 - Sara repays 100 to her mother. What two things need to be entered on the balance sheet? (one in debit/assets and one in credit/liabilities)

For 5.15 - what are the changes in bank, loan mother, and total? don't forget + or -

Overview

• The balance sheet measures stocks (vooraadgrootheden) at one moment in time.
• This is useful for recording how transactions impact the owner's equity, and seeing what the current values are of assets (debit side) and liabilities (credit side)
• The opposite of stocks are flows (stromgrootheden) - changes over time

Give some examples of stocks (vooraadgrootheden)

Give some examples of flows (stroomgrootheden)

Closing

• Questions?
• Homework - H5 up to 5.22
• Starting next week:
• Profit and Loss
• VAT
• Entrepreneur plan