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# Accounting Equation Food Truck Activity (incl. Balance Sheet)

7th - 11th, Higher Education, Homeschool
Subjects
Resource Type
Formats Included
• Zip
Pages
18 pages

### Description

The Accounting Equation Food Truck Activity is an awesome bundle of fun, interactive activities with a popular modern business that you can use to teach students the basic accounting equation, the key concept of financial position and the basic format of the balance sheet.

The activity contains 4 individual exercises for students:

1. Categorizing items typically found in a food truck business by placing them in their appropriate category on an ACCOUNTING EQUATION POSTER. The images and the physical placement assist students to put the definitions of the three accounting elements into application.
2. Assigning values to the items and calculating the total assets, liabilities and owner's equity for the food truck business.
3. Creating different scenarios with dramatically different values to show how FINANCIAL POSITION can change in different businesses and at different points in time.
4. Categorizing and formatting a simple BALANCE SHEET. Helping students learn how this statement mirrors the basic accounting equation. Teaching students how to categorize assets and liabilities on the balance sheet together with subcategories of current (short term) and non-current (long-term).

1. Blank Accounting Equation Poster (png - 2 sizes - large 40" x 27" and small 24" x 18")

2. Items document (png - 2 sizes - large and small)

3. Full Answer Key (pdf - 4 pages - with explanations for each of the 19 individual food truck items)

4. Balance Sheet Poster (png - 27" x 40" - with full color and white background options)

5. Teacher's Guide (pdf - 8 pages - including detailed instructions on how to implement each of the activities in class, what principles and concepts to emphasize in the lessons, etc.)

Difficulty Level: Beginner

Total Pages: 18

Class Duration: 2-3 hours

This real-life food truck business example will help give your students a deeper understanding of the accounting equation and its elements, the balance sheet and the concept of financial position.

Total Pages
18 pages
Included
Teaching Duration
2 hours
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