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