Choose from the following list of account titles the one that most accurately fits the description of that account or is an example of that account. An account title may be used more than once or not at all.

____________________ 1. A written obligation to repay a fixed amount, with interest, at sometime in the future
____________________ 2. Twenty acres of land held for speculation
____________________ 3. An amount owed by a customer
____________________ 4. Corporate income taxes owed to the federal government
____________________ 5. Ownership in a company that allows the owner to receive dividends before common shareholders receive any distributions
____________________ 6. Five acres of land used as the site for a factory
____________________ 7. Amounts owed on an open account to a vendor, due in 90 days
____________________ 8. A checking account at a bank
____________________ 9. A warehouse used to store equipment
____________________ 10. Claims by the owners on the undistributed net income of a business
____________________ 11. Rent paid on an office building in advance of use of the facility

Transcribed Image Text:

Cash Prepaid Asset Investments Taxes Payable Preferred Stock Accounts Receivable Land Accounts Payable Retained Earnings Notes Receivable Buildings Notes Payable Common Stock