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Steven Popovic
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Decks in this class (61)
Chart of Accounts Overview
Commonly used accounts for a firm that generates service and sales revenue.
Perpetual approach to inventory.
(If was period, would need temp accts to record inv. purch: Purchases; freight-in, Purchase Returns and Allowances, Purchase Discounts)
5
cards
Accounts Payable
Classification,
Financial statement,
Normal balance
3
cards
Accounts Recievable
Fundamentals,
Steps to manage accounts recievable
2
cards
Accumulated Depreciation - Buildings
Fundamentals,
Computation of annual depreciatio...
2
cards
Accumulated Depreciation - Equipment
Fundamentals,
Computation of annual depreciatio...
2
cards
Administrative Expenses
Fundamentals
1
cards
Allowance for Doubtful Accounts
Fundamentals
1
cards
Amortization Expense
Fundamentals
1
cards
Bad Debts Expense
Fundamentals,
Methods to account for uncollecti...
2
cards
Bonds Payable
Fundamentals,
Long term bond investment
2
cards
Buildings
Fundamentals
1
cards
Cash
Fundamentals
1
cards
Common Stock
Fundamentals,
No par value common stock journal...,
Cost and equity methods of acctin...
3
cards
Copyright
Fundamentals
1
cards
Cost of Goods Sold
Fundamentals
1
cards
Depreciation Expense
Fundamentals
1
cards
Discount on Bonds Payable
Fundamentals class fin stmt norma...
1
cards
Dividends
Fundamentals,
Comparison of dividend effects on...
2
cards
Dividends Payable
Fundamentals
1
cards
Equipment
Fundamentals
1
cards
Freight-out
Fundamentals
1
cards
Gain on Disposal of Plant Assets
Fundamentals
1
cards
Goodwill
Fundamentals
1
cards
Income Summary
Note: The normal balance for income summary will be credit when there is a net income, debt when there is a net loss. The income summary account does not appear on any financial statement.
1
cards
Income Tax Expense
Fundamentals
1
cards
Income Taxes Payable
Fundamentals
1
cards
Insurance Expense
Fundamentals
1
cards
Interest Expense
Fundamentals,
Computation of annual bond intere...
2
cards
Interest Payable
Fundamentals,
Interest computation
2
cards
Interest Recievable
Fundamentals
1
cards
Interest Revenue
Fundamentals
1
cards
Inventory
Note: If a periodic system is used, Inventory also appears on the IS in the calc of COGS
2
cards
Land
Fundamentals
1
cards
Loss on Disposal of Plant Assets
Fundamentals
1
cards
Maintenance and Repairs Expense
Fundamentals
1
cards
Mortgage Payable
Fundamentals
1
cards
Notes Payable
Fundamentals
1
cards
Patent
Fundamentals
1
cards
Paid-in Capital in Excess of Par Value - Common Stock
Fundamentals,
Par value stock journal entry
2
cards
Paid - in Capital in Excess of Par Value - Preferred Stock
Fundamentals
1
cards
Preferred Stock
Fundamentals
1
cards
Premium on Bonds Payable
Fundamentals
1
cards
Prepaid Insurance
Fundamentals
1
cards
Prepaid Rent
Fundamentals
1
cards
Rent Expense
Fundamentals
1
cards
Retained Earnings
Fundamentals
1
cards
Salaries and Wages Expense
Fundamentals
1
cards
Salaries and Wages Payable
Fundamentals
1
cards
Sales Discounts
Fundamentals
1
cards
Sales Returns and Allowances
Fundamentals
1
cards
Sales Revenue
Fundamentals
1
cards
Selling Expenses
Fundamentals
1
cards
Service Revenue
Fundamentals
1
cards
Short-Term Investments
Fundamentals
1
cards
Supplies
Fundamentals
1
cards
Supplies Expense
Fundamentals
1
cards
Treasury Stock - Common
Fundamentals
1
cards
Unearned Service Revenue
Fundamentals
1
cards
Utilities Expense
Fundamentals
1
cards
Concepts
Fundamental qualities,
Enhancing qualities,
Assumptions
5
cards
Basic Accounting Equation
A l se,
Expanded a l common stock re divi...
2
cards
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Chart of Accounts
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