To see each answer, press or click on the blue "Unscramble" button.
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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