Asset Classification Flashcards
(35 cards)
1
Q
Cash at Bank
A
Current Asset
2
Q
Inventory
A
Current Asset
3
Q
Accounts Receivable
A
Current Asset
4
Q
Accrued Income
A
Current Asset
5
Q
Prepaid Rent
A
Current Asset
6
Q
Prepaid Insurance
A
Current Asset
7
Q
Prepaid Advertising
A
Current Asset
8
Q
Interest Expense
A
Expense
9
Q
Interest Income
A
Income
10
Q
Tax Payable
A
Current Liability
11
Q
Accounts Payable
A
Current Liability
12
Q
Accrued Wages
A
Current Liability
13
Q
Capital
A
Equity
14
Q
Retained Earnings
A
Equity
15
Q
Short Term Debt
A
Current Liability
16
Q
Sales
A
Income
17
Q
Fees
A
Income
18
Q
Discount Received
A
Income
19
Q
GST Received/Credits
A
Current Asset
20
Q
GST Payable
A
Current Liability
21
Q
Wages
A
Expense
22
Q
Advertising
A
Expense
23
Q
Telephone
A
Expense
24
Q
Loss on sale of asset
A
Expense
25
Depreciation
Expense
26
Accumulated Depreciation
Negative Asset (Contra Asset)
27
Gain on sale of asset
Other Income
28
Sales Returns
Expense
29
Cost of Sales
Expense
30
Unearned Income
Current Liability
31
Goodwill
Non-Current Asset
32
Property Plant and Equipment
Non-Current Asset
33
Motor Vehicle
Non-Current Asset
34
Investments
Non-Current Asset
35
Marketable Securities
Current Asset
