Chart of Accounts Flashcards
1
Q
Bank
A
Current Assets
2
Q
Accounts Receivable
A
Current Assets
3
Q
Inventory
A
Current Assets
4
Q
Shares
A
Investments
5
Q
Shop Fittings and Equipment
A
Property, Plant, and Equipment
6
Q
Goodwill
A
Intangibles
7
Q
Accounts Payable
A
Current Liabilities
8
Q
GST
A
Current Liabilities
9
Q
Loan
A
Non-Current Liabilities
10
Q
Capital
A
Owner’s Equity
11
Q
Drawings
A
Owner’s Equity
12
Q
Fees Received (Sales)
A
Revenue
13
Q
Dividends Received
A
Other Income
14
Q
Discount Received
A
Other Income
15
Q
Advertising
A
Distribution Costs
