Chart Of Accounts-Account Balance

Question 1

Acct. Balance

Accounts Payable

Answer 1

Credit

Question 2

Acct. Balance

Accounts Receivable

Answer 2

Debit

Question 3

Acct. Balance

Accumulated Depreciation-Buildings

Answer 3

Credit

Question 4

Acct. Balance

Accumulated Depreciation-Equipment

Answer 4

Credit

Question 5

Acct. Balance

Administrative Expenses

Answer 5

Debit

Question 6

Acct. Balance

Allowance for Doubtful Accounts

Answer 6

Credit

Question 7

Acct. Balance

Amortization Expense

Answer 7

Debit

Question 8

Acct. Balance

Bad Debts Expense

Answer 8

Debit

Question 9

Acct. Balance

Bonds Payable

Answer 9

Credit

Question 10

Acct. Balance

Buildings

Answer 10

Debit

Question 11

Acct. Balance

Cash

Answer 11

Debit

Question 12

Acct. Balance

Common Stock

Answer 12

Credit

Question 13

Acct. Balance

Copyright

Answer 13

Debit

Question 14

Acct. Balance

Cost of Goods Sold

Answer 14

Debit

Question 15

Acct. Balance

Depreciation Expense

Answer 15

Debit

Question 16

Acct. Balance

Discount on Bonds Payable

Answer 16

Debit

Question 17

Acct. Balance

Dividends

Answer 17

Debit

Question 18

Acct. Balance

Dividends Payable

Answer 18

Credit

Question 19

Acct. Balance

Equipment

Answer 19

Debit

Question 20

Acct. Balance

Freight-out

Answer 20

Debit

Question 21

Acct. Balance

Gain on Disposal of Plant Assets

Answer 21

Credit

Question 22

Acct. Balance

Goodwill

Answer 22

Debit

Question 23

Acct. Balance

Income Summary

Answer 23

Credit -> Net Income; Debit -> Net Loss

Question 24

Acct. Balance

Income Tax Expense

Answer 24

Debit

Question 25

Acct. Balance

Income Taxes Payable

Answer 25

Credit

Question 26

Acct. Balance

Insurance Expense

Answer 26

Debit

Question 27

Acct. Balance

Interest Expense

Answer 27

Debit

Question 28

Acct. Balance

Interest Payable

Answer 28

Credit

Question 29

Acct. Balance

Interest Receivable

Answer 29

Debit

Question 30

Acct. Balance

Interest Revenue

Answer 30

Credit

Question 31

Acct. Balance

Inventory(Non-Perodic System)

Answer 31

Debit

Question 32

Acct. Balance

Inventory(Perodic System)

Answer 32

Debit & Debit

Question 33

Acct. Balance

Land

Answer 33

Debit

Question 34

Acct. Balance

Loss on Disposal of Plant Assets

Answer 34

Debit

Question 35

Acct. Balance

Maintenance and Repairs Expense

Answer 35

Debit

Question 36

Acct. Balance

Mortgage Payable

Answer 36

Credit

Question 37

Acct. Balance

Notes Payable

Answer 37

Credit

Question 38

Acct. Balance

Patent

Answer 38

Debit

Question 39

Acct. Balance

Paid-in Capital in Excess of Par Value-Common Stock

Answer 39

Credit

Question 40

Acct. Balance

Paid-in Capitalin Excess of Par Value-Preferred Stock

Answer 40

Credit

Question 41

Acct. Balance

Preferred Stock

Answer 41

Credit

Question 42

Acct. Balance

Premium on Bonds Payable

Answer 42

Credit

Question 43

Acct. Balance

Prepaid Insurance

Answer 43

Debit

Question 44

Acct. Balance

Prepaid Rent

Answer 44

Debit

Question 45

Acct. Balance

Rent Expense

Answer 45

Debit

Question 46

Acct. Balance

Retained Earnings

Answer 46

Credit

Question 47

Acct. Balance

Salaries and Wages Expense

Answer 47

Debit

Question 48

Acct. Balance

Salaries and Wages Payable

Answer 48

Credit

Question 49

Acct. Balance

Sales Discounts

Answer 49

Debit

Question 50

Acct. Balance

Sales Returns and Allowances

Answer 50

Debit

Question 51

Acct. Balance

Sales Revenue

Answer 51

Credit

Question 52

Acct. Balance

Selling Expenses

Answer 52

Debit

Question 53

Acct. Balance

Service Revenue

Answer 53

Credit

Question 54

Acct. Balance

Short-Term Investments

Answer 54

Debit

Question 55

Acct. Balance

Supplies

Answer 55

Debit

Question 56

Acct. Balance

Supplies Expense

Answer 56

Debit

Question 57

Acct. Balance

Treasury Stock-Common

Answer 57

Debit

Question 58

Acct. Balance

Unearned Service Revenue

Answer 58

Credit

Question 59

Acct. Balance

Utilities Expense

Answer 59

Debit