Classification of accounts Flashcards by Andy Diep

Q

Capital

A

OE

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Q

Drawings

A

-ve OE

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Q

Cash at bank

A

CA

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Q

Accounts receivable

A

CA

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Q

Inventory

A

CA

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Q

GST clearing (paid > collected)

A

CA

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Q

Prepaid expense

A

CA

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Q

Allowance for doubtful debts

A

-ve CA

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Q

Accrued revenue

A

CA

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Q

Shop fittings

A

NCA

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Q

Equipment

A

NCA

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Q

Machinery

A

NCA

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Q

Accumulated depreciation

A

-ve NCA

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Q

Office furniture

A

NCA

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Q

Motor vehicle

A

NCA

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Q

Premises (buildings)

A

NCA

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Q

Bank overdraft

A

CL

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Q

Accounts payable

A

CL

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Q

Loan (due after 12 months)

A

NCL

Q

Loan (due within 12 months)

A

CL

Q

GST clearing (collected > paid)

A

CL

Q

Unearned (prepaid) revenue

A

CL

Q

Accrued expense

A

CL

Q

Discount expense

A

E

Q

Cost of sales

A

E

Q

Wages expense

A

E

Q

Rent expense

A

E

Q

Insurance expense

A

E

Q

Telephone expense

A

E

Q

Accounting fees

A

E

Q

Maintenance costs

A

E

Q

Electricity expense

A

E

Q

Interest expense

A

E

Q

Materials expense

A

E

Q

Advertising expense

A

E

Q

Loss on disposal of NCA

A

E

Q

Inventory write-down

A

E

Q

Inventory loss

A

E

Q

Bad debts

A

E

Q

Cash sales

A

R

Q

Credit sales

A

R

Q

Discount revenue

A

R

Q

Interest revenue

A

R

Q

Inventory gain

A

R

Q

Profit on disposal of NCA

A

R

Q

Sales return

A

-ve R