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Chart of Accounts - Account Type, Normal Balance

Chart Of Accounts - Account Type, Normal Balance

by KYSU_ACC, Feb. 2013

Subjects: Accounting, Financial Accounting

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154 Cards in this Set

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	Cash	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet, Statement of Cash Flows
	Petty Cash	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet, Statement of Cash Flows
	Cash equivalents	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet, Statement of Cash Flows
	Short-term investments	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Accounts Receivable	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Allowance for Doubtful Accounts	Asset, Current Asset (coupled with accounts receivable) Increase with Credit, Decrease with Debit Normal Balance Credit (Contra-Asset Account) Balance Sheet
	Legal fees receivable	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Interest receivable	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Rent receivable	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Notes receivable	Asset, Current or Long-term Asset depending on due date Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Merchandise inventory	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Raw materials inventory	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Work in process inventory	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Finished goods inventory	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Office supplies	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Store supplies	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Prepaid insurance	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Prepaid interest	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Prepaid rent	Asset, Current Asset Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Long term Investment	Asset, Long Term Investment Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Bond Sinking Fund	Asset, Long Term Investment Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Automobiles	Asset, Property Plant & Equipment Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Accumulated depreciation Automobiles	Asset, Property Plant & Equipment Increase with Credit, Decrease with Debit Normal Balance Credit (Contra Asset Account) Balance Sheet
	Law library	Asset, Property Plant & Equipment Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Accumulated Depreciation - Law library	Asset, Property Plant & Equipment Increase with Credit, Decrease with Debit Normal Balance Credit (Contra Asset Account) Balance Sheet
	Furniture	Asset, Property Plant & Equipment Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Accumulated depreciation - Furniture	Asset, Property Plant & Equipment Increase with Credit, Decrease with Debit Normal Balance Credit (Contra Asset Account) Balance Sheet
	Office Equipment	Asset, Property Plant & Equipment Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Accumulated depreciation - Office Equipment	Asset, Property Plant & Equipment Increase with Credit, Decrease with Debit Normal Balance Credit (Contra Asset Account) Balance Sheet
	Building	Asset, Property Plant & Equipment Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Accumulated Depreciation - Building	Asset, Property Plant & Equipment Increase with Credit, Decrease with Debit Normal Balance Credit (Contra Asset Account) Balance Sheet
	Land improvements	Asset, Property Plant & Equipment Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Accumulated depreciation - Land improvements	Asset, Property Plant & Equipment Increase with Credit, Decrease with Debit Normal Balance Credit (Contra Asset Account) Balance Sheet
	Land	Asset, Property Plant & Equipment Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Mineral Deposit	Asset, Natural Resources Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Accumulated depletion - Mineral Deposit	Asset, Natural Resources Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Patents	Asset, Intangible Assets Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Franchise	Asset, Intangible Assets Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Copyrights	Asset, Intangible Assets Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Goodwill	Asset, Intangible Assets Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Accumulated amortization ______x intangible asset	Asset, Intangible Assets Decrease with Debit, Increase with Credit Normal Balance Credit (Contra Asset) Balance Sheet
	Accounts payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Insurance payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Interest payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Legal fees payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Office salaries payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Rent payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Salaries payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Estimated warranty liability	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Income taxes payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Common dividend payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Preferred dividend payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Unemployment taxes payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Employee federal income taxes payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Employee medical insurance payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Employee retirement program payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Employee union dues payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Federal unemployment taxes payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	FICA taxes payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Estimated vacation pay liability	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Unearned consulting fees	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Unearned legal fees	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Unearned revenue	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Unearned rent	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Short-term notes payable	Liability, Current Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Discount on short-term notes payable	Liability, Current Liabilities Increase with Debit, Decrease with Credit Normal Balance Debit (Contra-Liability) Balance Sheet
	Notes payable	Liability, Current Liabilities or Long Term Liabilities depending on the due date Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Long-term notes payable	Liability, Long-Term Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Long-term lease liability	Liability, Long-Term Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Bonds payable	Liability, Long-Term Liabilities (usually, could be short term depending on maturity date) Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Discount on Bonds Payable	Liability, Long-term Liabilities (coupled with Bonds Payable) Increase with Debit, Decrease with Credit Normal Balance Debit (Contra-Liability) Balance Sheet
	Premium on Bonds Payable	Liability, Long-Term Liabilities (coupled with Bonds Payable) Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Deferred income tax liability	Liability, Long-Term Liabilities Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Common stock, $-- par value	Equity, Contributed Capital Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Common stock, no-par value	Equity, Contributed Capital Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Common stock, $ __ stated Value	Equity, Contributed Capital Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Common stock dividend distributable	Equity, Contributed Capital Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Paid in capital in excess of par value, Common stock	Equity, Contributed Capital Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Paid in capital in excess of stated value, no-par common stock	Equity, Contributed Capital Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Paid-in capital, Treasury stock	Equity, Contributed Capital Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Preferred stock	Equity, Contributed Capital Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Paid-in capital in excess of par value, Preferred stock	Equity, Contributed Capital Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet
	Retained earnings	Equity, Retained Earnings Decrease with Debit, Increase with Credit Normal Balance Credit Balance Sheet, Statement of Retained Earnings
	Treasury stock, Common	Equity Increase with Debit, Decrease with Credit Normal Balance Debit Balance Sheet
	Fees Earned	Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Service Revenue	Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Commissions earned	Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Rent Revenue	Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Dividends revenue	Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Interest revenue	Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Sales	Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Sales returns and allowances	Revenue Increase with Debit, Decrease with Credit Normal Balance Debit (Contra Revenue account) Income Statement
	Sales discounts	Revenue Increase with Debit, Decrease with Credit Normal Balance Debit (Contra Revenue Account) Income Statement
	Cost of Goods Sold	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Amortization expense ----	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Depletion expense ________	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Depreciation expense ________________	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Office salaries expense	Expense - General & Administrative Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Sales salaries expense	Expense - Selling expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Salaries expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Employees' benefits expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Payroll taxes expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Cash over and short	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Interest expense	Expense - other expenses Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Insurance expense - Delivery equipment	Expense - Selling expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Insurance expense - Office equipment	Expense - General & Administrative expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Insurance expense - _________________	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Rent expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Rent expense - Office space	Expense - General & administrative expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Rent expense - Selling space	Expense - Selling expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Truck rental expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	____________ rental expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Office supplies expense	Expense - General & administrative expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Store supplies expense	Expense - Store supplies expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	_____________ supplies expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Advertising expense	Expense - Selling expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Bad debts expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Collection expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Delivery expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Freight expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Equipment expense (not the same as depreciation expense)	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Gas and oil expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	General and administrative expense	Expense - general and administrative Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Janitorial expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Legal fees expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Mileage expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Miscellaneous expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Mower and tools expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Organization expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Postage expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Property taxes expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Repair expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Selling expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Telephone expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Travel and entertainment expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Utilities expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Warranty expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Income taxes expense	Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Gain on retirement of bonds	Other Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Gain on sale of machinery	Other Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Gain on sale of investments	Other Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Gain on sale of trucks	Other Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Gain on ________________	Other Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Loss on disposal of machinery	Other Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Loss on exchange of equipment	Other Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Loss on exchange of __________________	Other Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Loss on sale of notes	Other Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Loss on retirement of bonds	Other Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Loss on sale of investments	Other Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Loss on sale of machinery	Other Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Loss on _________________________	Other Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Impairment gain	Other Revenue Decrease with Debit, Increase with Credit Normal Balance Credit Income Statement
	Impairment loss	Other Expense Increase with Debit, Decrease with Credit Normal Balance Debit Income Statement
	Income Summary	Clearing Account Zero balance before and after closing Does not appear on the financial statements