PROBLEMS

     Account

____  1.

Accounts Payable

____  2.

Accounts Receivable

____  3.

Accrued Liabilities

____  4.

Accumulated Depreciation

____  5.

Cash

____  6.

Common Stock

____  7.

Convertible Debentures

____  8.

Deferred Income Taxes (liability)

____  9.

Equipment

____ 10.

Inventory

____ 11.

Land

____ 12.

Marketable Securities

____ 13.

Minority Interest

____ 14.

Paid-In Capital in Excess of Par

____ 15.

Retained Earnings

____ 16.

Treasury Stock

     Account Descriptions

a.

Stocks and bonds of other companies held for the purpose of exercising control.

b.

An accumulation of the sum of the expense since the beginning of the benefit period.

c.

Outside ownership in the equity of consolidated subsidiaries.

d.

Machinery and tools, valued at historical cost.

e.

Monies due because expenses, such as salaries, are incurred in a different period than when the cash outlay occurs.

f.

The most liquid of assets, it may also include savings accounts.

g.

Goods on hand.

h.

A potential liability created by differing tax and reporting methods.

i.

Ownership and debt instruments readily converted to cash.

j.

An expenditure made in advance of the use of the service or good.

k.

Monies due from customers arising from sale or service rendered.

l.

The capital stock of residual owners.

m.

Bonds that can be exchanged for stock at the option of the holder.

n.

Undistributed earnings of the corporation.

o.

Shares of the firm's own stock that have been repurchased.

p.

Monies due for goods bought for use or resale.

q.

Excess over legal par paid at time of sale.

r.

Nondepreciable real estate.

s.

Collections in advance of service.

t.

Securities that give the holder the right to buy additional shares of common stock at a fixed price.