Accounting


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Balance Sheet

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 1. The amounts reported on the balance sheet are as of a _________ in time. NITPO POINT
 2. Resources. SSSTAE ASSETS
 3. Obligations. EITILASIBIL LIABILITIES
 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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