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Accounting > Chart Of Accounts-Summary > Flashcards

Chart Of Accounts-Summary Flashcards

1
Q

Summary

Accounts Payable

A

Balance Sheet
Liabilities
Credit

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2
Q

Summary

Accounts Receivable

A

Balance Sheet
Assets
Debit

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3
Q

Summary

Accumulated Depreciation-Buildings

A

Balance Sheet
Assets
Credit

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4
Q

Summary

Accumulated Depreciation-Equipment

A

Balance Sheet
Assets
Credit

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5
Q

Summary

Administrative Expenses

A

Income Statement
Expenses
Debit

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6
Q

Summary

Allowance for Doubtful Accounts

A

Balance Sheet
Assets
Credit

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7
Q

Summary

Amortization Expense

A

Income Statement
Expenses
Debit

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8
Q

Summary

Bad Debts Expense

A

Income Statement
Expenses
Debit

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9
Q

Summary

Bonds Payable

A

Balance Sheet
Liabilities
Credit

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10
Q

Summary

Buildings

A

Balance Sheet
Assets
Debit

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11
Q

Summary

Cash

A

Balance Sheet
Assets
Debit

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12
Q

Summary

Common Stock

A

Balance Sheet
Stockholders’ Equity
Credit

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13
Q

Summary

Copyright

A

Balance Sheet
Assets
Debit

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14
Q

Summary

Cost of Goods Sold

A

Income Statement
Expenses
Debit

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15
Q

Summary

Depreciation Expense

A

Income Statement
Expenses
Debit

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16
Q

Summary

Discount on Bonds Payable

A

Balance Sheet
Liabilities
Debit

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17
Q

Summary

Dividends

A

Retained Earnings Statement
Stockholders’ Equity
Debit

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18
Q

Summary

Dividends Payable

A

Balance Sheet
Liabilities
Credit

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19
Q

Summary

Equipment

A

Balance Sheet
Assets
Debit

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20
Q

Summary

Freight-out

A

Income Statement
Expenses
Debit

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21
Q

Summary

Gain on Disposal of Plant Assets

A

Income Statement
Revenue
Credit

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22
Q

Summary

Goodwill

A

Balance Sheet
Assets
Debit

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23
Q

Summary

Income Summary

A

Not Applicable
Stockholders’ Equity
Credit -> Net Income
Debit -> Net Loss

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24
Q

Summary

Income Tax Expense

A

Income Statement
Expenses
Debit

25
Q

Summary

Income Taxes Payable

A

Balance Sheet
Liabilities
Credit

26
Q

Summary

Insurance Expense

A

Income Statement
Expenses
Debit

27
Q

Summary

Interest Expense

A

Income-Statement
Expenses
Debit

28
Q

Summary

Interest Payable

A

Balance Sheet
Liabilities
Credit

29
Q

Summary

Interest Receivable

A

Balance Sheet
Assets
Debit

30
Q

Summary

Interest Revenue

A

Income Statement
Revenue
Credit

31
Q

Summary

Inventory(Non-Perodic System)

A

Balance Sheet
Assets
Debit

32
Q

Summary

Inventory(Perodic System)

A

Balance Sheet Income Statement
Assets Expenses (COGS)
Debit Debit

33
Q

Summary

Land

A

Balance Sheet
Assets
Debit

34
Q

Summary

Loss on Disposal of Plant Assets

A

Income Statement
Expenses
Debit

35
Q

Summary

Maintenance and Repairs Expense

A

Income Statement
Expenses
Debit

36
Q

Summary

Mortgage Payable

A

Balance Sheet
Liabilities
Credit

37
Q

Summary

Notes Payable

A

Balance Sheet
Liabilities
Credit

38
Q

Summary

Patent

A

Balance Sheet
Assets
Debit

39
Q

Summary

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

A

Balance Sheet
Stockholders’ Equity
Credit

40
Q

Summary

Paid-in Capitalin Excess of Par Value-Preferred Stock

A

Balance Sheet
Stockholders’ Equity
Credit

41
Q

Summary

Preferred Stock

A

Balance Sheet
Stockholders’ Equity
Credit

42
Q

Summary

Premium on Bonds Payable

A

Balance Sheet
Liabilities
Credit

43
Q

Summary

Prepaid Insurance

A

Balance Sheet
Assets
Debit

44
Q

Summary

Prepaid Rent

A

Balance Sheet
Assets
Debit

45
Q

Summary

Rent Expense

A

Income Statement
Expenses
Debit

46
Q

Summary

Retained Earnings

A

Balance Sheet and Retained Credit Earnings Statement
Stockholders’ Equity
Credit

47
Q

Summary

Salaries and Wages Expense

A

Income Statement
Expenses
Debit

48
Q

Summary

Salaries and Wages Payable

A

Balance Sheet
Liabilities
Credit

49
Q

Summary

Sales Discounts

A

Income Statement
Revenue
Debit

50
Q

Summary

Sales Returns and Allowances

A

Income Statement
Revenue
Debit

51
Q

Summary

Sales Revenue

A

Income Statement
Revenue
Credit

52
Q

Summary

Selling Expenses

A

Income Statement
Expenses
Debit

53
Q

Summary

Service Revenue

A

Income Statement
Revenue
Credit

54
Q

Summary

Short-Term Investments

A

Balance Sheet
Assets
Debit

55
Q

Summary

Supplies

A

Balance Sheet
Assets
Debit

56
Q

Summary

Supplies Expense

A

Income Statement
Expenses
Debit

57
Q

Summary

Treasury Stock-Common

A

Balance Sheet
Stockholders’ Equity
Debit

58
Q

Summary

Unearned Service Revenue

A

Balance Sheet
Liabilities
Credit

59
Q

Summary

Utilities Expense

A

Income Statement
Expenses
Debit

Accounting (4 decks)

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