ACCT 3001- Account classification

Accounts payable
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Terms in this set (59)
Accounts payable
Balance sheet
current liability
Credit
Accounts receivable
Balance sheet
current asset
debit
Accumulated depreciation-Plants and building
Balance sheet
Plant contra-asset
credit
Administrative expenses
Income statement
operating expense
debit
allowance for doubtful accounts
Balance sheet
current contra-asset
credit
Amortization expense
Income statement
operating expense
debit
Bad debt expense
Income statement
operating expense
debit
bonds payable
Balance sheet
long-term liability
credit
buildings
balance sheet
plant asset
debit
cash
balance sheet
current asset
debit
common stockbalance sheet SE creditcopyrightsBalance sheet intangible asset debitCOGSIncome statement COGS debitdebt investmentsbalance sheet Current Asset / Long-Term Investment debitdepreciation expenseIncome statement operating expense Debitdiscount on bonds payableBalance sheet Long-term contra liability debitDividend revenueIncome statement other income creditdividendsRE statement temporary account closed to retained earnings debitdividends payablebalance sheet current liability creditequipmentbalance sheet plant asset debitfreight-outIncome statement operating expense debitGain on disposal of plant assetsincome statement other income creditGoodwillbalance sheet intangible asset debitincome summarytemporary account closed to REIncome Tax ExpenseIncome statement income tax expense debitIncome Taxes Payablebalance sheet current liability creditinsurance expenseincome statement operating expense debitinterest expenseIncome statement other expense debitinterest payablebalance sheet current liability creditinterest receivablebalance sheet current asset debitinterest revenueincome statement other income creditinventorybalance sheet current asset debitlandBalance sheet plant asset debitloss on disposal of plant assetincome statement other expense debitmaintenance and repair expenseincome statement operating expense debitmortgage payablebalance sheet long-term liability creditnotes payablebalance sheet current/long-term liability creditpatentsbalance sheet intangible asset debitpaid-in capital in excess of par-CSBalance sheet SE creditpaid-in capital in excess of par-preferred stockBalance sheet SE creditpreferred stockbalance sheet SE creditpremium on bonds payablebalance sheet long-term contra liability creditprepaid insurancebalance sheet current asset debitprepaid rentbalance sheet current asset debitrent expenseincome statement operating expense debitretained earningsbalance sheet and RE statement SE creditsalaries and wages expenseincome statement operating expense debitsalaries and wages payablebalance sheet current liability creditsales discountsincome statement contra-revenue debitsales returns and allowancesincome statement contra-revenue debitsales revenueincome statement revenue creditselling expensesincome statement operating expense debitservice revenueincome statement revenue creditstock investmentsbalance sheet current asset/long-term investment debitsuppliesbalance sheet current asset debitsupplies expenseincome statement operating expense debittreasury stockbalance sheet SE debitunearned service revenuebalance sheet current liability creditutilities expenseincome statement operating expense debit