🎮 Interactive Learning: Account Classification Game
Account Classification Matching Game
Click account names to match them with the correct accounting element classification. This helps you quickly identify account types!
🎯 Classification Challenge
⏱️ Time: 00:00
Score: 0 / 10
💡 Quick Reference Guide:
- Assets: Resources owned by the business that provide future economic benefits (Cash, Equipment, Inventory)
- Liabilities: Debts owed to outsiders (Accounts Payable, Notes Payable)
- Owner's Equity: Owner's interest in the business (Common Stock, Retained Earnings)
- Revenue: Income earned from selling goods or providing services
- Expenses: Costs incurred in the course of business operations (Rent, Wages, Supplies)
📋 Accounts to Classify
Cash
Accounts Payable
Common Stock
Service Revenue
Rent Expense
Equipment
Notes Payable
Retained Earnings
Supplies Expense
Sales Revenue
🏷️ Accounting Elements Classification
💰
Assets
Resources owned
📊
Liabilities
Debts owed
👤
Owner's Equity
Owner's interest
📈
Revenue
Income earned
💸
Expenses
Costs incurred
📚 Accounting Elements Review
Understanding the relationship between the five basic elements of the accounting equation:
Assets = Liabilities + Owner's Equity
+ Revenue - Expenses = Net Income
💰 Assets
Resources owned by the business that provide future economic benefits.
- Current Assets: Cash, Accounts Receivable, Inventory
- Non-current Assets: Equipment, Buildings, Land
📊 Liabilities
Debts the business must repay in the future.
- Current Liabilities: Accounts Payable, Wages Payable
- Non-current Liabilities: Notes Payable, Bonds Payable
👤 Owner's Equity
The owner's interest in the business after liabilities are deducted.
- Contributed Capital: Investment by owners (Common Stock)
- Retained Earnings: Accumulated net income not distributed
📈 Revenue
Income earned from selling goods or providing services.
- Service Revenue
- Sales Revenue
- Interest Revenue
💸 Expenses
Costs incurred in the course of business operations.
- Rent Expense
- Salaries Expense
- Supplies Expense
- Utilities Expense