ACCT 229 Account Balances
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51 Terms
Cash
Current Asset
Marketable Securities
Current Asset
Accounts Receivables
Current Asset
Supplies
Current Asset
Inventory
Current Asset
Prepaid Expenses
Current Asset
Accounts Payable
Current Liabilities
Accrued Expenses
Current Liabilities
Wages Payable
Current Liabilities
Interest Payable
Current Liabilities
Taxes Payable
Current Liabilities
Income Tax Payable
Current Liabilities
Unearned Revenue
Current Liabilities
ST Notes Payable
Current Liabilities
Contributed Capital
SHE
Retained earnings (Revenues, Expenses, Dividends)
SHE
LT Notes Payable
Long Term Liabilities
Bonds Payable
Long Term Liabilities
Mortgage Payable
Long Term Liabilities
Land
Long Term Assets
Buildings
Long Term Assets
Equipment
Long Term Assets
Furniture
Long Term Assets
Accumulated Depreciation
Long Term Assets
Patents
Long Term Assets
Copyright
Long Term Assets
Trademark
Long Term Assets
Franchise/License
Long Term Assets
Goodwill
Long Term Assets
Contra Account
Has the opposite balance / reduces total of that category
Income Statement
Revenues and Expenses make up this
Retained Earnings
The result of income sheet flows into this
Balance sheet
Retained earnings shows up on this
Dividends
Affects retained earnings which shows up on balance sheet
Sales Revenue
Operating Revenue
Service Revenue
Operating Revenue
Gain from…
Other Revenue
Interest Revenue
Other Revenue
Cost of Goods Sold (COGS)
Operating Expenses
Salaries / Wage Expense
Operating Expense
Rent Expense
Operating Expense
Advertising Expense
Operating Expense
Insurance Expense
Operating Expense
Utilities Expense
Operating Expense
Repairs Expense
Operating Expense
Supplies Expense
Operating Expense
Depreciation Expense
Operating Expense
Loss from…
Other Expense
Interest Expense
Other Expense
Income Tax Expense
Other Expense
Sales and General Administration (SGA)
Operating Expenses are sometimes referred to as this
Note 
Flashcards (43)