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Balance Sheet (Word Scramble)

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If you have difficulty answering the following questions, learn more about this topic by reading our Balance Sheet (Explanation).

1. The amounts reported on the balance sheet are as of a _________ in time. POINT NITPO Unscramble
2. Resources. ASSETS SSSTAE Unscramble
3. Obligations. LIABILITIES EITILASIBIL Unscramble
4. Sales on account that have not yet been collected are accounts _______________. RECEIVABLE LVEIECAERB Unscramble
5. Merchandise on hand. INVENTORY NYTRIEONV Unscramble
6. The total depreciation since an asset was acquired is ______________ depreciation. ACCUMULATED ELUAUTCCDAM Unscramble
7. Amounts owed for goods and services received on account are accounts __________. PAYABLE LAABEPY Unscramble
8. A corporation's owner's equity is referred to as __________________' equity. STOCKHOLDERS THEROLKODSCS Unscramble
9. The cumulative amount of a corporation's earnings less its cumulative dividends is _____________ earnings. RETAINED TDERAIEN Unscramble
10. ________ stock is a corporation's own stock that it has purchased but has not retired. TREASURY YARESRTU Unscramble
11. The company that has paid insurance premiums in advance should report the unexpired cost in the account __________ Insurance. PREPAID EAPDRIP Unscramble
12. A small amount of cash available to make small outlays is known as the _________ cash fund. PETTY TYPET Unscramble
13. Inventory is reported as a __________ asset. CURRENT NTRUCER Unscramble
14. One section of stockholders' equity is paid-in or contributed _________. CAPITAL PLATCIA Unscramble
15. The declaration of dividends will reduce the balance in __________ earnings. RETAINED IDEANERT Unscramble
16. Inventories are often reported at the lower of cost or __________. MARKET KATMER Unscramble
17. Cash that is restricted for the construction of a plant asset is reported in the balance sheet section labeled as _________________. INVESTMENTS STEVENMISTN Unscramble
18. Sometimes an ______________ will require that a plant asset be written down to an amount smaller than its carrying value. IMPAIRMENT TRAMPMINIE Unscramble
19. Patents, trademarks, and goodwill are examples of ________________ assets. INTANGIBLE BALEGITNIN Unscramble
20. The accounts Allowance for Doubtful Accounts and Accumulated Depreciation are known as ________-asset accounts. CONTRA TROCAN Unscramble

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