Assets

Cash- The easiest way to acquire other assets is by using cash, which is the most liquid sort of asset.

Accounts receivable- The money that the business will receive from clients who have used credit to buy
its goods and services is known as accounts receivable (AR).

Building- is how people, families, and communities assemble the assets that will propel them toward
long-term economic prosperity.

Notes receivable- note receivable is a written promise to receive money at a future date.

Office equipment- These purchases are considered long-term investments and will depreciate over the
course of years.

Liabilities

Accounts payable- The word "accounts payable" refers to the sums owed to suppliers or vendors for
products or services that were paid for with credit.

Unearned fees- is cash a company receives in advance from a client for services it has not yet rendered,
such as a prepaid annual membership.

Mortage payable- The obligation of a property owner to repay a loan that is backed by real estate is
known as a mortgage payable.

Wages payable- The amount of unpaid wages is what the employer owes the workers for their labor
Salaries owing- Salaries payable is a liability account that holds the amounts for any unpaid salaries that
are owing to employees.

Owners equity / capital

Common Stock- Common stock is a security that represents ownership in a corporation.

Contributed Surplus- is the total overpayment made by investors for equities they have purchased with
a par value.

Retained earning- The percentage of net income that is not distributed to shareholders as dividends is
known as retained earnings.

Outstanding shares - Shares outstanding are all the shares of a corporation that have been authorized,
issued and purchased by investors and are held by them.

Preferred Stock- Shares that entitles the owner to a fixed dividend that is paid before dividends on
common stock.

Revenue

Fees earned- A revenue account called "fees earned" can be found in the income statement's top-level
revenue column.

Service income- An organization's money from selling its products and services to clients is recorded in
an account called service revenue.
Rent income- is the money made from renting out real estate, like office space, to other people.

Dividend revenue- A corporation pays its shareholders a dividend, which is a portion of its profits and
retained earnings.

Sales- Sales revenue is the income received by a company from its sales of goods or the provision of
services

Expenses

Supplies expense- The cost of consumables utilized during a reporting period is referred to as supplies
expense.

Bank charges/ fees- These fees may be charged on a one-time or ongoing basis.

Repairs and maintenance- is the cost incurred to ensure that an asset continues to operate.

Rent- Rent expense refers to the total cost of using rental property for each reporting period.

Payable Interest- It shows how much interest is presently owed to lenders.