Matching Definitions with Balance Sheet-Related Terms P5-2 LO5-3 Following are terms related to the balance sheet that were discussed in Chapters 2 through 5. Match can definition with its related term by entering the appropriate letter in the space provided. Terms Definitions (1) Capital in excess of par (2) Assets (3) Retained earnings (4) Book value (5) Other assets (6) Shares outstanding (7) Shareholders' equity (8) Liquidity (9) Normal operating cycle (10) Current assets (11) Current liabilities (12) Long-term liabilities (13) Property, plant, equipment, net (14) Liabilities (15) Contra-asset account (16) Accumulated depreciation (17) Intangible assets A. Nearness of assets to cash (in time). B. Liabilities expected to be paid out of current assets normally within the next year. C. All liabilities not classified as current liabilities. D. Total assets minus total liabilities. E. Probable future economic benefits owned by the entity from past transactions. F. Debts or obligations from past transactions to be paid with assets or services. G. Assets expected to be collected in cash within one year or the operating cycle, if longer. H. Assets that do not have physical substance. I. Balance of the Common Stock account divided by the par value per share. J. A miscellaneous category of assets. K. Sum of the annual depreciation expense on an asset from its acquisition to the current date. L. Asset offset account (subtracted from asset). M. Accumulated earnings minus accumulated dividends. N. Property, plant, and equipment, less accumulated depreciation. 0. Same as carrying value; cost less accumulated depreciation to date. P. Amount of contributed capital less the par value of the stock Q. The average cash-to-cash time involved in the operations of the business. R. None of the above. In Dart A5 43