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Assets, Liabilities
Assets, Liabilities and Ownership Interest
| Term | Definition |
|---|---|
| Asset | accounts receivable |
| Asset | cash |
| Asset | equipment |
| Asset | furniture and fixtures |
| Asset | land |
| Asset | building |
| Asset | notes receivable |
| Asset | office supplies |
| Asset | prepaid advertising |
| Asset | prepaid insurance |
| Asset | prepaid rent |
| Asset | supplies |
| liability | accounts payable |
| liability | interest payable |
| liability | notes payable |
| liability | salaries payable |
| liability | taxes payable |
| liability | unearned rent revenue |
| liability | unearned revenue |
| liability | utilities payable |
| liability | wages payable |
| Owners' equity | common stock |
| Owners' equity | retained earnings |
| Revenue | rent earned |
| Revenue | Fees Earned |
| Revenue | Sales |
| expense | cost of sales |
| expense | utilities expense |
| expense | rent expense |
| expense | insurance expense |
| expense | interest expense |
| expense | salary expense |
| expense | wages expense |