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Financial Statements (Word Scramble)

Author:
Harold Averkamp, CPA, MBA

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 Financial Statements (Explanation).

1. The _______ sheet will report the total amount of a corporation's retained earnings.

BALANCE CAEBANL
BALANCE ANCABLE

2. The financial statement that reports the liabilities is sometimes known as the statement of financial ____________.

POSITION NISTOPIO
POSITION OPOINSIT

3. The balance sheet reports amounts at a _________ in time.

POINT TOPNI
POINT OIPNT

4. The amount of working __________ can be calculated quickly from a classified balance sheet.

CAPITAL APCLTIA
CAPITAL ACTILAP

5. The income statement reports amounts for a _________ of time.

PERIOD PIREDO
PERIOD RDIPOE

6. The amounts earned from a company's main activities.

REVENUES VEESURNE
REVENUES ENEUVSER

7. The costs that are matched with revenues.

EXPENSES ESNPSXEE
EXPENSES SENEXPSE

8. Sales minus the cost of goods sold equals _______ profit.

GROSS OSSGR
GROSS SRSOG

9. The financial statement that reports the change in cash and cash equivalents is the statement of cash ________.

FLOWS WOLFS
FLOWS FOLSW

10. Other comprehensive income is reported in the statement of stockholders' ________.

EQUITY YTQUIE
EQUITY YITUQE

11. The heading of the statement of cash flows discloses the _________ of time covered.

PERIOD REOPDI
PERIOD REPDOI

12. The income statement is often referred to as the ________ and loss statement.

PROFIT PTOFRI
PROFIT FTOIRP

13. Bonds payable will be reported as a long-term ____________.

LIABILITY IYLLATBII
LIABILITY ILTLAIBYI

14. Financial statements are best prepared under the __________ basis of accounting.

ACCRUAL LUACCRA
ACCRUAL RCCAAUL

15. Paid-in capital is one section of ________________' equity.

STOCKHOLDERS OHTKLRDCSOSE
STOCKHOLDERS SSETDROKHCLO

16. The amounts to calculate the debt to equity ratio are found on the ________ sheet.

BALANCE CNALBAE
BALANCE ELANCBA

17. The current period's net income is part of the corporation's ___________ earnings reported on the balance sheet.

RETAINED ERANEIDT
RETAINED DRINEEAT

18. The costs expiring during the current accounting period.

EXPENSES SPNEEXES
EXPENSES XESSENPE

19. Prepaid expenses are reported as ________.

ASSETS ETSASS
ASSETS STSASE

20. Customer deposits are reported as _____________.

LIABILITIES ILIBALTISIE
LIABILITIES ITLEALISIBI
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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