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List of Accounts From Assets To Expenses Merchandising Concern

ACCOUNTING LIST OF ACCOUNTS FROM ASSETS TO EXPENSES

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Jennery Gwen
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68 views2 pages

List of Accounts From Assets To Expenses Merchandising Concern

ACCOUNTING LIST OF ACCOUNTS FROM ASSETS TO EXPENSES

Uploaded by

Jennery Gwen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Assets (Current and Non-Current)

 Current Assets: NORMAL BALANCE

 Cash Debit
 Cash Equivalents Debit
 Petty Cash Fund Debit
 Notes Receivable Debit
 Accounts Receivable Debit
 Estimated Uncollectible Accounts - Contra Asset Credit
 Advances to Employees Debit
 Inventories Debit
 Supplies Inventory or Unused Supplies Debit
 Prepaid Expenses Debit
 Accrued Income Debit
 Non-Current Assets:
Property , plant and equipment
 Land Debit
 Building Debit
 Equipment Debit
 Furniture and Fixtures Debit
 Accumulated Depreciation- Contra Asset Credit

Intangible Assets

 PATENTS Debit
 COPY RIGHTS Debit
 FRANCHISE Debit
 TRADEMARK Debit

Liabilities (Current and Non-Current)

 Current Liabilities:
 Accounts Payable Credit
 Notes Payable (short-term) Credit
 Accrued Expenses Credit
 Unearned Income Credit
 Non-Current Liabilities:
 Notes Payable (long-term) Credit
 Mortgage Payable Credit

Owner’s Equity or Capital (Withdrawal, Income & Expense)

 Withdrawal Debit
 Capital Credit
Income or Revenues

 Sales Credit
 Sales Returns and Allowances Debit
 Sales Discounts Debit

COST

Purchases Debit
Purchase Returns and Allowances Credit
Purchase Discounts Credit
Freight in Debit

 Expenses
 Freigth out Debit
 Supplies Expense Debit
 Rent Expense Debit
 Repairs and Maintenance Debit
 Salaries Expense Debit
 Uncollectible Accounts Debit
 Depreciation Expense Debit
 Taxes and Licenses Debit
 Insurance Expense Debit
 Utilities Expense Debit
 Interest Expense Debit
 Miscellaneous Expense Debit
 Gas & Oil Debit

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