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Chart of Accounts_Classifications

Chart of Accounts_Classifications - Intangible...

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Chart of Accounts_Classifications (Most commonly used accounts) Balance Sheet Normal Balance Income Statement Assets Liabilities Stockholders' Equity Account Dr Cr Revenue (R) Expense (E) Current Asset (CA) L-T Asset (LTA) Intangibles (IA) Current Liab (CL) L-T Liab (LTL) Contrib Capital (CC) Retained Earnings (RE) Accounts Payable Cr CL Accounts Receivable Dr CA Accumulated Depreciation Cr LTA (contra) Allowance for Doubtful Accounts Cr CA (contra) Amortization Expense Dr E Bad Debt Expense Dr E Building Dr LTA Cash Dr CA Contributed Capital (Common Stock, Preferred Stock) Cr CC Cost of Goods Sold / Cost of Sales Dr E Depletion Expense Dr E Depreciation Expense Dr E Equipment  Dr LTA Furniture & Fixtures Dr LTA Income Taxes (or Income Tax Expense) Dr E Intangible Assets (Goodwill, Patents, Copyrights, etc.)
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Unformatted text preview: Intangible Assets (Goodwill, Patents, Copyrights, etc.) Dr IA Inventories Dr CA Land Dr LTA Note (or Loan) Payable Cr CL, or LTL Note (or Loan) Receivable Dr CA, or LTA Operating Expenses (Wages, Insurance, Rent, Utilities, etc.) Dr E Other Expenses (Interest, Loss on sale of assets, etc.) Dr E Other Payables (Wages, Taxes, etc.) Cr CL Other Receivables (Interest, Dividends, etc.) Dr CA Other Revenues (Rent, Interest, Gain on sale of assets, etc.) Cr R Prepaid Expenses (Rent, Insurance, etc.) Dr CA, or LTA Retained Earnings Cr RE Revenue (Sales, Fees, etc.) Cr R Treasury Stock Dr CC (contra) Unearned Revenue (Rent, Fees, etc.) Cr CL...
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