Cash
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Accounts Recievable
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Notes Recievable
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Inventory
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Supplies
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Prepaid Rent
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Prepaid Advertising
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Investments
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Equipment
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Buildings
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Copyrights
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Patents
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Goodwill
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Prepaid Expenses (Prepaid ...)
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Intangibles (Copyrights, Patents, Goodwill)
1.Asset
2.Balance Sheet
3.Debit
4.Permanent
Accumulated Depreciation
1. Contra-ASSET
Companion Account - Buildings (etc...)
2.Balance Sheet
3.CREDIT
4.Permanent
Allowance for Doubtful Accounts
1. Contra-ASSET
Companion Account - Accounts Recievable
2.Balance Sheet
3.CREDIT
4.Permanent
Accounts Payable
1.Liability
2.Balance Sheet
3. CREDIT
4. Permanent
Wages Payable
1.Liability
2.Balance Sheet
3. CREDIT
4. Permanent
Utilities Payable
1.Liability
2.Balance Sheet
3. CREDIT
4. Permanent
Interest Payable
1.Liability
2.Balance Sheet
3. CREDIT
4. Permanent
Taxes Payable
1.Liability
2.Balance Sheet
3. CREDIT
4. Permanent
Unearned Revenue
1.Liability
2.Balance Sheet
3. CREDIT
4. Permanent
Bonds Payable
1.Liability
2.Balance Sheet
3. CREDIT
4. Permanent
Accrued Liabilities (... Payable)
1.Liability
2.Balance Sheet
3. CREDIT
4. Permanent
Capital Stock
1.Owners Equity
2.Balance Sheet
3.CREDIT
4.Permanent
Common Stock
1.Owners Equity
2.Balance Sheet
3.CREDIT
4.Permanent
Preferred Stock
1.Owners Equity
2.Balance Sheet
3.CREDIT
4.Permanent
Paid in Capital in excess of par
1.Owners Equity
2.Balance Sheet
3.CREDIT
4.Permanent
Retained Earnings
1.Owners Equity
2.Balance Sheet
3.CREDIT
4.Permanent
Contributed Capital (Capital Stock, Common Stock, Preferred Stock, and Paid in Capital in excess of par)
1.Owners Equity
2.Balance Sheet
3.CREDIT
4.Permanent
Dividends
1.Contra-Owners Equity
2.Statement of Retained Earnings
3.Debit
4.TEMPORARY
Sales Revenue
1.Revenue
2.INCOME STATEMENT
3.CREDIT
4.Temporary
Fees Earned
1.Revenue
2.INCOME STATEMENT
3.CREDIT
4.Temporary
Interest Revenue
1.Revenue
2.INCOME STATEMENT
3.CREDIT
4.Temporary
Rent Revenue
1.Revenue
2.INCOME STATEMENT
3.CREDIT
4.Temporary
Service Revenue
1.Revenue
2.INCOME STATEMENT
3.CREDIT
4.Temporary
Cost of Goods Sold
1.Expenses
2.INCOME STATEMENT
3.Debit
4.Temporary
Wages Expense
1.Expenses
2.INCOME STATEMENT
3.Debit
4.Temporary
Rent Expense
1.Expenses
2.INCOME STATEMENT
3.Debit
4.Temporary
Interest Expense
1.Expenses
2.INCOME STATEMENT
3.Debit
4.Temporary
Depreciation Expense
1.Expenses
2.INCOME STATEMENT
3.Debit
4.Temporary
Advertising Expense
1.Expenses
2.INCOME STATEMENT
3.Debit
4.Temporary
Income Tax Expense
1.Expenses
2.INCOME STATEMENT
3.Debit
4.Temporary
The Accounting Cycle
1.Analyze
2.Journalize
3.Post
4.Unadjusted Trial balance
5.Adjustments
6.Adjusted Trial Balance
7.Prepare Financial Statements
8.Closing
9.Post-Closing Trial Balance