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85 terms

Common Accounts

Quiz 1
STUDY
PLAY
Cash (money orders, checks, checking, savings, petty)
Asset. Balance Sheet. Real. Debit NAB.
Cash Equivalents (=<3 month)
Asset. Balance Sheet. Real. Debit NAB.
Trading
Asset. Balance Sheet. Real. Debit NAB.
Available-for-Sale Securities
Asset. Balance Sheet. Real. Debit NAB.
Accounts Receivable
Asset. Balance Sheet. Real. Debit NAB.
Trade Receivable
Asset. Balance Sheet. Real. Debit NAB.
Allowance for Doubtful Accounts
Contra-Asset. Balance Sheet. Real. Credit NAB.
Inventory
Asset. Balance Sheet. Real. Debit NAB.
Merchandise
Asset. Balance Sheet. Real. Debit NAB.
Purchase Discount
Contra-Asset. Balance Sheet. Real. Credit NAB.
Purchase Returns & Allowances
Contra-Asset. Balance Sheet. Real. Credit NAB.
Purchases
Asset. Balance Sheet. Real. Debit NAB.
Prepaid Expenses
Asset. Balance Sheet. Real. Debit NAB.
Notes Receivable
Asset. Balance Sheet. Real. Debit NAB.
Held-to-Maturity Investments
Asset. Balance Sheet. Real. Debit NAB.
PPE
Asset. Balance Sheet. Real. Debit NAB.
Land (not depreciated)
Asset. Balance Sheet. Real. Debit NAB.
Building
Asset. Balance Sheet. Real. Debit NAB.
Equipment
Asset. Balance Sheet. Real. Debit NAB.
Vehicles
Asset. Balance Sheet. Real. Debit NAB.
Furniture & Fixtures
Asset. Balance Sheet. Real. Debit NAB.
Accumulated Depreciation
Contra-Asset. Balance Sheet. Real. Credit NAB.
Intangibles
Asset. Balance Sheet. Real. Debit NAB.
Goodwill
Asset. Balance Sheet. Real. Debit NAB.
Patterns & Copyrights
Asset. Balance Sheet. Real. Debit NAB.
License, Franchise, & Other Legal Rights
Asset. Balance Sheet. Real. Debit NAB.
Accumulated Amortization
Contra-Asset. Balance Sheet. Real. Credit NAB.
Deferred Tax Asset
Asset. Balance Sheet. Real. Debit NAB.
Accounts Payable
Liability. Balance Sheet. Real. Credit NAB.
Unearned Revenue
Liability. Balance Sheet. Real. Credit NAB.
Unearned Fees
Liability. Balance Sheet. Real. Credit NAB.
Interest Payable
Liability. Balance Sheet. Real. Credit NAB.
Dividends Payable
Liability. Balance Sheet. Real. Credit NAB.
Income Tax Payable
Liability. Balance Sheet. Real. Credit NAB.
Salaries/Wages Payable
Liability. Balance Sheet. Real. Credit NAB.
Deposits
Liability. Balance Sheet. Real. Credit NAB.
Notes Payable
Liability. Balance Sheet. Real. Credit NAB.
Mortgage Payable
Liability. Balance Sheet. Real. Credit NAB.
Bonds Payable
Liability. Balance Sheet. Real. Credit NAB.
Premium on Bonds Payable
Liability. Balance Sheet. Real. Credit NAB.
Discounts on Bonds Payable
Contra-Liability. Balance Sheet. Real. Debit NAB.
Warranty Payable
Liability. Balance Sheet. Real. Credit NAB.
Deferred Tax Liability
Liability. Balance Sheet. Real. Credit NAB.
Paid-in Capital
SH Equity. Balance Sheet. Real. Credit NAB.
Contributed Capital
SH Equity. Balance Sheet. Real. Credit NAB.
Common Stock
SH Equity. Balance Sheet. Real. Credit NAB.
Additional Paid-in-Capital CS
SH Equity. Balance Sheet. Real. Credit NAB.
Preferred Stock
SH Equity. Balance Sheet. Real. Credit NAB.
Additional Paid-in-Capital PS
SH Equity. Balance Sheet. Real. Credit NAB.
Retained Earnings
SH Equity. Balance Sheet. Real. Credit NAB.
Treasury Stock
Contra-SH Equity. Balance Sheet. Real. Debit NAB.
Sales
Revenues. IS. Nominal. Credit NAB.
Sales Discounts
Contra-Revenue. IS. Nominal. Debit NAB.
Sales Returns & Allowances
Contra-Revenue. IS. Nominal. Debit NAB.
Fees
Revenue. IS. Nominal. Credit NAB.
Interest Revenue
Revenue. IS. Nominal. Credit NAB.
Dividend Revenue
Revenue. IS. Nominal. Credit NAB.
Rent Revenue
Revenue. IS. Nominal. Credit NAB.
Lease Revenue
Revenue. IS. Nominal. Credit NAB.
Gain
Revenue. IS. Nominal. Credit NAB.
COGS
Expense. IS. Nominal. Debit NAB.
Cost of Sales
Expense. IS. Nominal. Debit NAB.
Supplies Expense
Expense. IS. Nominal. Debit NAB.
Rent Expense
Expense. IS. Nominal. Debit NAB.
Insurance Expense
Expense. IS. Nominal. Debit NAB.
Bad Debit
Expense. IS. Nominal. Debit NAB.
Warranty Expense
Expense. IS. Nominal. Debit NAB.
Depreciation Expense
Expense. IS. Nominal. Debit NAB.
Amortization Expense
Expense. IS. Nominal. Debit NAB.
Depletion Expense
Expense. IS. Nominal. Debit NAB.
Salaries/Wage Expense
Expense. IS. Nominal. Debit NAB.
R&D Expense
Expense. IS. Nominal. Debit NAB.
Selling, Marketing, Advertising Expense
Expense. IS. Nominal. Debit NAB.
General, Administrative, Misc Expense
Expense. IS. Nominal. Debit NAB.
Interest Expense
Expense. IS. Nominal. Debit NAB.
Income Tax Expense
Expense. IS. Nominal. Debit NAB.
Loss
Expense. IS. Nominal. Debit NAB.
Dividends on Common Stock
Dividends. RE. Nominal. Debit NAB.
Dividends on Preferred Stock
Dividends. RE. Nominal. Debit NAB.
ASSETS
BS, Real, Debit NAB.
LIABILITIES
BS, Real, Credit NAB.
SH EQUITY
BS, Real, Credit NAB.
REVENUES
IS, Nominal, Credit NAB.
EXPENSES
IS, Nominal, Debit NAB.
DIVIDENDS
RE, Nominal, Debit NAB.