AcctgEquation_Perpetual - Revenue Cash Equivalents Land...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Account Type Assets = Liabilities + Equity Classification Current Assets Long-Term Assets Property Plant Intangible Assets Current Liabilities Long-Term Liabilities Owners’ Equity Retained Earnings Accounts Cash Investments in Stocks Land Patents Accounts Payable Long-term Notes Payable Common Stock Retained Earnings (Contra Accounts) Accounts Receivable Investments in Bonds Buildings Copyrights Short-term Notes Pay Bonds Payable Preferred Stock (Dividends) (Allowance for DA) Notes Receivable Automobiles Goodwill Salaries Payable Additional Paid in Capital Inventory Equipment Taxes Payable (Treasury Stock) Supplies Furniture & Fixtures Current Portions of LTD Prepaid Expense (Accumulated Depreciation) Unearned
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Revenue Cash Equivalents Land Improvements Accrued Liability Marketable Securities Account Type Revenues-Expenses = Net Income Classification Operating Revenues Non-Operating Revenues Operating Expenses Non-Operating Expenses Cost of Goods Sold Accounts & Service Revenue Interest Revenue Advertising Expense Interest Expense Cost of Goods Sold (Contra Accounts) Sales Revenue Gain on Disposal of Asset Depreciation Expense Loss on Disposal of Assets (Sales Returns & Allowances) Postage/Freight-out Loss from Disaster (Sales Discounts) Repairs Expense Rent Expense Salaries Expense Utilities Expense Basic Accounting Equation...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online