Assets vs. Liabilities vs. SHE

asset

normal dr.

liability

normal cr.

she

normal cr.

expense

normal dr. (she acct) (inco stmt)

dividend

normal dr. (stmt of she)

cash

current asset: #1

land

long-term asset

equipment

long-term asset

supplies

current asset

accounts recievable

current asset (UOMe)

inventory

current asset

building

long-term asset

prepaids

current asset

accounts payable

liability (IOU)

salaries payable

liability (IOU)

utilities payable

liability (IOU)

interest payable

liability (IOU)

notes payable

liability (IOU)

deferred revenue

liability (not yet provided service)

common stock

she (stmt of she)

retained earnings

she (stmt of she)

revenues

she (inco stmt)

sales discounts

contra to Sales; she (normal dr.) (inco stmt)

sales return

contra to Sales; she (normal dr.) (inco stmt)

sales allowances

contra to Sales; she (normal dr.) (inco stmt)

allowance for uncollectable accounts (AFUA)

contra to A/R; asset (normal cr.) (bs)

cost of goods sold (COGS)

expense (normal dr.)

accumulated depreciation

contra to Asset being depreciated (normal cr.) (bs)

additional paid-in-capital (APIC)

she (normal cr.) (bs)