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Types of Accounts (Balance Sheet Accounts (Assets (Equipment, Inventory,…
Types of Accounts
Balance Sheet Accounts
Assets
Equipment
Inventory
Accounts Receivable
Prepaid Expenses
Cash
e.t.c.
Supplies
Property (Land, Building)
Note Receivable
Bank/Cash at Bank
Deferred Expense
Prepaid Insurance
Liabilities
Notes Payable
Unearned Revenue
Accrued Expenses
Deferred Taxes
Accounts Payable
e.t.c.
Sales Tax Payable
Wages Payable
Payroll Taxes Payable
Mortgage Payable
Interest Payable
Deferred Gross profit
Owner's Equity
Owner's Capital
Retained Earnings
Common Stock
Withdrawal (or Drawing)
Share Capital (Ordinary)
Capital contributions
Dividends
Income Statement Accounts
Revenue/Gains
Dividend?
Capital Gains
Rental Income
Asset Sales
Interest Earned
Sales Income
Expenses/Losses
Depreciation
Rent Expense
Selling Expenses
Interest Expenses
Salaries/Wages Expense
Cost of Goods Sold (COGS)
Utilities Expense
Supplies Expenses
Insurance Expense
Advertising Expense
Bank Fees Expense
Printing & Stationery Expense
Depreciation Expense(?)
Other Expenses (computer, communication, office, labour, welfare)