Accounting - Account types Flashcards by Keith Deuser

Q

Cash

A

Current Asset, Balance Sheet

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Q

Deferred Revenue

A

Current Liability, Balance Sheet

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Q

Treasury Stock

A

Contra-Equity, Balance Sheet

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Q

Cost of Goods Sold

A

Expense, Income Statement

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Q

Interest Expense

A

Expense, Income Statement

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Q

Sales

A

Revenues, Income Statement

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Q

Sales Discounts

A

Contra-Rev, IS

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Q

Sales Returns

A

Contra-Rev IS

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Q

Discounts on Bonds Payable

A

Longterm Contra-Liab BS

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Q

Inventory

A

Current Asset BS

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Q

Wages Payable

A

Current Liability BS

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Q

Common Stock

A

Equity BS

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Q

Accumulated Depreciation

A

Longterm Contra-Asset BS

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Q

Income Taxes Payable

A

Current Liability BS

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Q

Prepaid Expense

A

Current Asset BS

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Q

Dividends Payable

A

Current Liability BS

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Q

Depreciation Expense

A

Expense IS

Q

Marketable Securities

A

Current Asset BS

Q

Allowance for Bad Debts

A

Current Contra-Asset BS

Q

Utilities (or Utilities Expense)

A

Expense IS

Q

Rent (or Rent Expense)

A

Expense IS

Q

Notes Receivable

A

Longterm Asset BS

Q

Notes Receivable

A

Longterm Asset BS

Q

Buildings

A

Longterm Asset BS

Land

Longterm Asset BS

Bonds Payable

Longterm Liability BS

Goodwill

Longterm Asset BS

Equipment

Longterm Asset BS

Mortgage Payable

Longterm Liability BS

Licensing Revenues

Revenues IS

Interest Revenues

Revenues IS

Premium on Bonds Payable

Longterm Liability BS

Income Tax Expense

Expense IS

Supplies Expense

Expense IS

Advertising Expense

Expense IS

Salaries Expense (or Salaries)

Expense IS

Current Portion of any Long-Term Debt

Current Liability BS

Retained Earnings

Equity BS

Wages Expense

Expense IS

Notes Payable

Longterm Liability BS

Product Sales

Revenue IS

Equipment

Longterm Asset BS