Chart Of Accounts-Summary

Question 1

Summary

Accounts Payable

Answer 1

Balance Sheet
Liabilities
Credit

Question 2

Summary

Accounts Receivable

Answer 2

Balance Sheet
Assets
Debit

Question 3

Summary

Accumulated Depreciation-Buildings

Answer 3

Balance Sheet
Assets
Credit

Question 4

Summary

Accumulated Depreciation-Equipment

Answer 4

Balance Sheet
Assets
Credit

Question 5

Summary

Administrative Expenses

Answer 5

Income Statement
Expenses
Debit

Question 6

Summary

Allowance for Doubtful Accounts

Answer 6

Balance Sheet
Assets
Credit

Question 7

Summary

Amortization Expense

Answer 7

Income Statement
Expenses
Debit

Question 8

Summary

Bad Debts Expense

Answer 8

Income Statement
Expenses
Debit

Question 9

Summary

Bonds Payable

Answer 9

Balance Sheet
Liabilities
Credit

Question 10

Summary

Buildings

Answer 10

Balance Sheet
Assets
Debit

Question 11

Summary

Cash

Answer 11

Balance Sheet
Assets
Debit

Question 12

Summary

Common Stock

Answer 12

Balance Sheet
Stockholders’ Equity
Credit

Question 13

Summary

Copyright

Answer 13

Balance Sheet
Assets
Debit

Question 14

Summary

Cost of Goods Sold

Answer 14

Income Statement
Expenses
Debit

Question 15

Summary

Depreciation Expense

Answer 15

Income Statement
Expenses
Debit

Question 16

Summary

Discount on Bonds Payable

Answer 16

Balance Sheet
Liabilities
Debit

Question 17

Summary

Dividends

Answer 17

Retained Earnings Statement
Stockholders’ Equity
Debit

Question 18

Summary

Dividends Payable

Answer 18

Balance Sheet
Liabilities
Credit

Question 19

Summary

Equipment

Answer 19

Balance Sheet
Assets
Debit

Question 20

Summary

Freight-out

Answer 20

Income Statement
Expenses
Debit

Question 21

Summary

Gain on Disposal of Plant Assets

Answer 21

Income Statement
Revenue
Credit

Question 22

Summary

Goodwill

Answer 22

Balance Sheet
Assets
Debit

Question 23

Summary

Income Summary

Answer 23

Not Applicable
Stockholders’ Equity
Credit -> Net Income
Debit -> Net Loss

Question 24

Summary

Income Tax Expense

Answer 24

Income Statement
Expenses
Debit

Question 25

# Summary Income Taxes Payable

Answer 25

Balance Sheet Liabilities Credit

Question 26

# Summary Insurance Expense

Answer 26

Income Statement Expenses Debit

Question 27

# Summary Interest Expense

Answer 27

Income-Statement Expenses Debit

Question 28

# Summary Interest Payable

Answer 28

Balance Sheet Liabilities Credit

Question 29

# Summary Interest Receivable

Answer 29

Balance Sheet Assets Debit

Question 30

# Summary Interest Revenue

Answer 30

Income Statement Revenue Credit

Question 31

# Summary Inventory(Non-Perodic System)

Answer 31

Balance Sheet Assets Debit

Question 32

# Summary Inventory(Perodic System)

Answer 32

Balance Sheet Income Statement Assets Expenses (COGS) Debit Debit

Question 33

# Summary Land

Answer 33

Balance Sheet Assets Debit

Question 34

# Summary Loss on Disposal of Plant Assets

Answer 34

Income Statement Expenses Debit

Question 35

# Summary Maintenance and Repairs Expense

Answer 35

Income Statement Expenses Debit

Question 36

# Summary Mortgage Payable

Answer 36

Balance Sheet Liabilities Credit

Question 37

# Summary Notes Payable

Answer 37

Balance Sheet Liabilities Credit

Question 38

# Summary Patent

Answer 38

Balance Sheet Assets Debit

Question 39

# Summary Paid-in Capital in Excess of Par Value-Common Stock

Answer 39

Balance Sheet Stockholders' Equity Credit

Question 40

# Summary Paid-in Capitalin Excess of Par Value-Preferred Stock

Answer 40

Balance Sheet Stockholders' Equity Credit

Question 41

# Summary Preferred Stock

Answer 41

Balance Sheet Stockholders' Equity Credit

Question 42

# Summary Premium on Bonds Payable

Answer 42

Balance Sheet Liabilities Credit

Question 43

# Summary Prepaid Insurance

Answer 43

Balance Sheet Assets Debit

Question 44

# Summary Prepaid Rent

Answer 44

Balance Sheet Assets Debit

Question 45

# Summary Rent Expense

Answer 45

Income Statement Expenses Debit

Question 46

# Summary Retained Earnings

Answer 46

Balance Sheet and Retained Credit Earnings Statement Stockholders' Equity Credit

Question 47

# Summary Salaries and Wages Expense

Answer 47

Income Statement Expenses Debit

Question 48

# Summary Salaries and Wages Payable

Answer 48

Balance Sheet Liabilities Credit

Question 49

# Summary Sales Discounts

Answer 49

Income Statement Revenue Debit

Question 50

# Summary Sales Returns and Allowances

Answer 50

Income Statement Revenue Debit

Question 51

# Summary Sales Revenue

Answer 51

Income Statement Revenue Credit

Question 52

# Summary Selling Expenses

Answer 52

Income Statement Expenses Debit

Question 53

# Summary Service Revenue

Answer 53

Income Statement Revenue Credit

Question 54

# Summary Short-Term Investments

Answer 54

Balance Sheet Assets Debit

Question 55

# Summary Supplies

Answer 55

Balance Sheet Assets Debit

Question 56

# Summary Supplies Expense

Answer 56

Income Statement Expenses Debit

Question 57

# Summary Treasury Stock-Common

Answer 57

Balance Sheet Stockholders' Equity Debit

Question 58

# Summary Unearned Service Revenue

Answer 58

Balance Sheet Liabilities Credit

Question 59

# Summary Utilities Expense

Answer 59

Income Statement Expenses Debit