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Principles of Accounting > Account Classification > Flashcards

Account Classification Flashcards

(61 cards)

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1
Q

Account Classification

Accounts Payable

Accounting Principles

A

Current Liabilities

Account classification

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2
Q

Account Classification

Accounts Receivable

Accounting Principles

A

Current Assets

Accounts Classification

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3
Q

Account Classification

Accumulated Depreciation—Buildings

Accounting Principles

A

PPE Asset—Contra

Account Classification

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4
Q

Account Classification

Advertising Expense

Accounting Principles

A

Operating Expense

Account Classification

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5
Q

Account Classification

Allowance for Doubtful Accounts

Accounting Principles

A

Current Assets—Contra

Account Classification

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6
Q

Account Classification

Amortization Expense

Accounting Principles

A

Operating Expense

Account Classification

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7
Q

Account Classification

Bad Debt Expense

Accounting Principles

A

Operating Expense

Account Classification

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8
Q

Account Classification

Bonds Payable

Accounting Principles

A

Long-Term Liabilities

Account Classification

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9
Q

Account Classification

Buildings

Accounting Principles

A

PPE Asset

Account Classification

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10
Q

Account Classification

Cash

Accounting Principles

A

Current Assets (cash and cash equivalents)

Account Classification

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11
Q

Account Classification

Common Stock

Accounting Principles

A

Stockholders’ Equity

Account Classification

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12
Q

Account Classification

Copyrights

Accounting Principles

A

Intangible Assets

Account Classification

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13
Q

Account Classification

Cost of Goods Sold

Accounting Principles

A

Cost of Goods Sold

Account Classification

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14
Q

Account Classification

Debt Investments

Accounting Principles

A

Current Assets / Long-Term Investment

Account Classification

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15
Q

Account Classification

Depreciation Expense

Accounting Principles

A

Operating Expense

Account Classification

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16
Q

Account Classification

Discount on Bonds Payable

Accounting Principles

A

Long-Term Liabilities—Contra

Account Classification

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17
Q

Account Classification

Divdend Revenue

Accounting Principles

A

Other Income

Account Classification

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18
Q

Account Classification

Dividends

Accounting Principles

A

Temporary account closed to Retained Earnings

Account Classification

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19
Q

Account Classification

Dividends Payable

Accounting Principles

A

Current Liabilities

Account Classification

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20
Q

Account Classification

Equipment

Account Classification

Accounting Principles

A

PPE Asset

Account Classification

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21
Q

Account Classification

Freight-Out

Accounting Principles

A

Operating Expense

Account Classification

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22
Q

Account Classification

Gain on Disposal of Plant Assets

Accounting Principles

A

Other Income

Account Classification

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23
Q

Account Classification

Goodwill

Accounting Principles

A

Intangible Assets

Account Classification

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24
Q

Account Classification

Income Summary

Accounting Principles

A

Temporary account closed to Retained Earnings

Account Classification

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25
# Account Classification Income Tax Expense ## Footnote Accounting Principles
Income Tax Expense | Account Classification
26
# Account Classification Income Taxes Payable ## Footnote Accounting Principles
Current Liabilities | Account Classification
27
# Account Classification Insurance Expense ## Footnote Accounting Principles
Operating Expense | Account Classification
28
# Account Classification Interest Expense ## Footnote Accounting Principles
Other Expense | Account Classification
29
# Account Classification Interest Payable ## Footnote Accounting Principles
Current Liabilities | Account Classification
30
# Account Classification Interest Receivable ## Footnote Accounting Principles
Current Assets | Account Classification
31
# Account Classification Interest Revenue ## Footnote Accounting Principles
Other Income | Account Classification
32
# Account Classification Inventory ## Footnote Accounting Principles
Current Assets | Account Classification
33
# Account Classification Land ## Footnote Accounting Principles
PPE Asset | Account Classification
34
# Account Classification Loss on Disposal of Plant Assets ## Footnote Accounting Principles
Other Expense | Account Classification
35
# Account Classification Maintenance and Repairs Expense ## Footnote Accounting Principles
Operating Expense | Account Classification
36
# Account Classification Mortgage Payable ## Footnote Accounting Principles
Long-Term Liabilities | Account Classification
37
# Account Classification Notes Payable ## Footnote Accounting Principles
Current Liabliities / Long-Term Liabilities | Account Classification
38
# Account Classification Owner's Capital ## Footnote Accounting Principles
Owner's Equity | Account Classification
39
# Account Classification Owner's Drawings ## Footnote Accounting Principles
Temporary account closed to Owner's Capital | Account Classification
40
# Account Classification Patents ## Footnote Accounting Principles
Intangible Assets | Account Classification
41
# Account Classification Paid-in Capital in Excess of Par—Common Stock ## Footnote Accounting Principles
Stockholders' Equity | Account Classification
42
# Account Classification Paid-in Capital in Excess of Par—Preferred Stock ## Footnote Accounting Principles
Stockholders' Equity | Account Classification
43
# Account Classification Preferred Stock ## Footnote Accounting Principles
Stockholders' Equity | Account Classification
44
# Account Classification Premium on Bonds Payable ## Footnote Accounting Principles
Long-Term Liabilties—Adjunct | Account Classification
45
# Account Classification Prepaid Insurance ## Footnote Accounting Principles
Current Assets | Account Classification
46
# Account Classification Prepaid Rent ## Footnote Accounting Principles
Current Assets | Account Classification
47
# Account Classification Rent Expense ## Footnote Accounting Principles
Operating Expense | Account Classification
48
# Account Classification Retained Earnings ## Footnote Accounting Principles
Stockholders' Equity | Account Classification
49
# Account Classification Salaries and Wages Expense ## Footnote Accounting Principles
Operating Expense | Account Classification
50
# Account Classification Salaries and Wages Payable ## Footnote Accounting Principles
Current Liabilties | Account Classification
51
# Account Classification Sales Discounts ## Footnote Accounting Principles
Revenue—Contra | Account Classification
52
# Account Classification Sales Returns and Allowances ## Footnote Accounting Principles
Revenue—Contra | Account Classification
53
# Account Classification Sales Revenue ## Footnote Accounting Principles
Revenue | Account Classification
54
# Account Classification Selling Expenses ## Footnote Accounting Principles
Operating Expense | Account Classification
55
# Account Classification Service Revenue ## Footnote Accounting Principles
Revenue | Account Classification
56
# Account Classification Stock Investments ## Footnote Accounting Principles
Current Assets / Long-Term Investment | Account Classification
57
# Account Classification Supplies ## Footnote Accounting Principles
Current Assets | Account Classification
58
# Account Classification Supplies Expense ## Footnote Accounting Principles
Operating Expense | Account Classification
59
# Account Classification Treasury Stock ## Footnote Accounting Principles
Stockholders' Equity | Account Classification
60
# Account Classification Unearned Service Revenue ## Footnote Accounting Principles
Current Liabilties | Account Classification
61
# Account Classification Utilities Expense ## Footnote Accounting Principles
Operating Expense | Account Classification

Principles of Accounting (15 decks)

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