Income Statement Classification
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65 Terms
Sales Wages
DC
Sales Commission
DC
Advertising
DC
Delivery Expenses
DC
Supplies Used
DC
Repairs
DC
Depreciation on Equipment
DC
Anything with the words “Shop” or “Sales”
DC
Office Wages
AC
Office Expenses
AC
Insurance
AC
Electricity
AC
Printing
AC
Rates
AC
Loss on Sale of An Asset
AC
General Expenses
AC
Internet & Telephone
AC
Depreciation on Land & Buildings
AC
Depreciation on Office Equipment
AC
Interest on Overdraft
FC
Interest on Loan
FC
Interest on Mortgage
FC
Sales
R
Fees
R
Commission Received
OI
Interest Received
OI
Donations Received
OI
Gain on Sale of an Asset
OI
Rent Received
OI
Dividends Received
OI
Bank
CA
Accounts Receivable
CA
Inventory/Stock
CA
Petty Cash
CA
Prepayments
CA
GST Receivable
CA
Accrued Revenue
CA
Supplies On Hand
CA
Computer
PPE
Land
PPE
Buildings
PPE
Furniture
PPE
Fixtures and Fittings
PPE
Vehicle
PPE
Office Equipment
PPE
Shop Fitting
PPE
Goodwill
INT
Patents
INT
Copyrights
INT
Term Deposit
INV
Government Bonds
INV
Shares in another company
INV
Accounts Payable
CL
Bank Overdraft
CL
Loan (Under 1 year)
CL
Accrued Expenses
CL
Income in Advance
CL
GST Payable
CL
Mortgage
NCL
Loan (Over 1 year)
NCL
Capital
EQ
Drawings
EQ
Profit for the year
EQ
Accumulated Depreciation
(-) PPE
Allowance for Doubtful Debts
(-) Accounts Receivable Note