Balance Sheet (Word Scramble)

1. The amounts reported on the balance sheet are as of a _________ in time.

2. Resources.

3. Obligations.

4. Sales on account that have not yet been collected are accounts _______________.

5. Merchandise on hand.

6. The total depreciation since an asset was acquired is ______________ depreciation.

7. Amounts owed for goods and services received on account are accounts __________.

8. A corporation's owner's equity is referred to as __________________' equity.

9. The cumulative amount of a corporation's earnings less its cumulative dividends is _____________ earnings.

10. ________ stock is a corporation's own stock that the corporation purchased but has not retired.

11. The company that has paid insurance premiums in advance should report the unexpired cost in the account __________ Insurance.

12. A small amount of cash available to make small outlays is known as the _________ cash fund.

13. Inventory is reported as a __________ asset.

14. One section of stockholders' equity is paid-in or contributed _________.

15. The declaration of dividends will reduce the balance in __________ earnings.

16. Inventories are often reported at the ________ of cost or net realizable value.

17. Cash that is restricted for the construction of a plant asset is reported in the balance sheet section labeled as _________________.

18. Sometimes an ______________ will require that a plant asset be written down to an amount smaller than its carrying value.

19. Patents, trademarks, and goodwill are examples of ________________ assets.

20. The accounts Allowance for Doubtful Accounts and Accumulated Depreciation are known as ________-asset accounts.