Classification of accounts Flashcards
1
Q
Capital
A
OE
2
Q
Drawings
A
-ve OE
3
Q
Cash at bank
A
CA
4
Q
Accounts receivable
A
CA
5
Q
Inventory
A
CA
6
Q
GST clearing (paid > collected)
A
CA
7
Q
Prepaid expense
A
CA
8
Q
Allowance for doubtful debts
A
-ve CA
9
Q
Accrued revenue
A
CA
10
Q
Shop fittings
A
NCA
10
Q
Equipment
A
NCA
11
Q
Machinery
A
NCA
11
Q
Accumulated depreciation
A
-ve NCA
12
Q
Office furniture
A
NCA
12
Q
Motor vehicle
A
NCA
13
Q
Premises (buildings)
A
NCA
14
Q
Bank overdraft
A
CL
15
Q
Accounts payable
A
CL
15
Q
Loan (due after 12 months)
A
NCL
16
Q
Loan (due within 12 months)
A
CL
16
Q
GST clearing (collected > paid)
A
CL
16
Q
Unearned (prepaid) revenue
A
CL
16
Q
Accrued expense
A
CL
17
Q
Discount expense
A
E
17
Cost of sales
E
18
Wages expense
E
19
Rent expense
E
20
Insurance expense
E
20
Telephone expense
E
20
Accounting fees
E
21
Maintenance costs
E
21
Electricity expense
E
22
Interest expense
E
22
Materials expense
E
22
Advertising expense
E
22
Loss on disposal of NCA
E
22
Inventory write-down
E
23
Inventory loss
E
24
Bad debts
E
25
Cash sales
R
26
Credit sales
R
27
Discount revenue
R
28
Interest revenue
R
29
Inventory gain
R
30
Profit on disposal of NCA
R
31
Sales return
-ve R
