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    Koro Sensei
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    This document outlines a basic chart of accounts for a business, including balance sheet accounts like assets (cash, accounts receivable, inventory, etc.) and liabilities (accounts payable, notes payable, salaries payable). It also includes income statement accounts grouped as income (service fees, sales, interest income) and expenses (cost of sales, salaries, rent, supplies, depreciation, taxes).

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    Fundamentals of Accounting

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    This document outlines a basic chart of accounts for a business, including balance sheet accounts like assets (cash, accounts receivable, inventory, etc.) and liabilities (accounts payable, notes payable, salaries payable). It also includes income statement accounts grouped as income (service fees, sales, interest income) and expenses (cost of sales, salaries, rent, supplies, depreciation, taxes).

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    9 views1 page

    Account Titles

    Uploaded by

    Koro Sensei
    This document outlines a basic chart of accounts for a business, including balance sheet accounts like assets (cash, accounts receivable, inventory, etc.) and liabilities (accounts payable, notes payable, salaries payable). It also includes income statement accounts grouped as income (service fees, sales, interest income) and expenses (cost of sales, salaries, rent, supplies, depreciation, taxes).

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Chart of Accounts

    INCOME STATE ME~I


    BALANCE SHEET ACCOUNTS ACGOUNTS. ~
    Account Account
    No. No. ''
    ~
    . ASSETS INCO
    ~ . j
    ~
    110 Cash 410 Service fees
    120 Accounts receivable·
    . I

    420 · Sales I
    125 Allowance for bad debts 430 · Interest income .
    '
    130 Notes receivable · 440 Gains
    140 Inventory
    150 Prepaid supplies EXPENSES
    155 Prepaid rent 510 Cost of sales
    160 Prepaid insurance 515· Freight-out .
    170 Land 520 Salaries expense
    180 Building 525 Rent expense
    185 Accumulated
    depreciation - Bldg. 530. .Utilities expense
    190 Equipment 535· ·Supplies expense
    195 Accumulated
    depreciation - ..
    Equipment 540 Bad debt expense
    545 Depreciation
    expense
    LIABILITIES 550 Advertising expense
    210 Account~ payable 555 Insurance expense ·
    220 Notes payable 560
    . I

    Taxes and licenses


    230 Interest payable . 565 Transportation and
    travel ·expense
    240 Salaries payable 570 Interest expense .
    250 Utilities pAyable 575 Miscellaneous
    expense
    260 Unearned income 580 Losses

    EQUITY
    310 Owner's capital
    320 Owner's drawipgs

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