Account | Classification |
Accounts Payable | Current Liability
Balance Sheet
Credit |
Accounts Receivable | Current Asset
Balance Sheet
Debit |
Accumulated Depreciation - Equipment | Contra Asset
Balance Sheet
Credit |
Bonds Payable | Long-Term Liability
Balance Sheet
Credit |
Buildings | Asset
Balance Sheet
Debit |
Cash | Current Asset
Balance Sheet
Debit |
Common Stock | Stockholder's Equity
Balance Sheet
Credit |
Cost of Goods Sold | Cost of Goods Sold
Income Statement
Debit |
Depreciation Expense | Operating Expense
Income Statement
Debit |
Dividends | Temporary account closed to Retained Earnings
Retained Earnings Statement
Debit |
Dividends Payable | Current Liability
Balance Sheet
Credit |
Equipment | Asset
Balance Sheet
Debit |
Freight-out | Operating Expense
Income Statement
Debit |
Goodwill | Intangible Asset
Balance Sheet
Debit |
Income Summary | Temporary account closed to Retained Earnings
not applicable |
Insurance Expense | Operating Expense
Income Statement
Debit |
Inventory | Current Asset
Balance Sheet/also income statement if periodic
Debit |
Land | Asset
Balance Sheet
Debit |
Maintenance and Repairs Expense | Operating Expense
Income Statement
Debit |
Notes Payable | Liability
Balance Sheet
Credit |
Patent | Intangible Asset
Balance Sheet
Debit |
Prepaid Insurance | Current Asset
Balance Sheet
Debit |
Prepaid Rent | Current Asset
Balance Sheet
Debit |
Rent Expense | Operating Expense
Income Statement
Debit |
Retained Earnings | Stockholders' Equity
Balance Sheet and Statement of Retained Earnings
Credit |
Sales Discounts | Revenue - Contra
Income Statement
Debit |
Sales Returns and Allowances | Revenue - Contra
Income Statement
Debit |
Sales Revenue | Revenue
Income Statement
Credit |
Service Revenue | Revenue
Income Statement
Credit |
Short-Term Investments | Current Asset
Balance Sheet
Debit |
Supplies | Current Asset
Balance Sheet
Debit |
Supplies Expense | Operating Expense
Income Statement
Debit |
Unearned Service Revenue | Current Liability
Balance Sheet
Credit |
Utilities Expense | Operating Expense
Income Statement
Debit |
Five Categories of Chart of Accounts | Assets, Liabilities, SE, Revenues, Expenses |