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    Chart of Accounts: Account Numbering

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    rjrjrj
    This document outlines an accounting chart of accounts organized into categories including asset, liability, equity, revenue, cost of goods sold, and expense accounts. Asset accounts are broken into current assets like cash, accounts receivable, inventory, and other current assets as well as fixed assets like property, plant, and equipment. Liability accounts separate current obligations from long-term debt. Equity accounts include capital stock and retained earnings. Revenue is broken into sales categories while expenses itemize operating costs.

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    © All Rights Reserved
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    Chart of Accounts: Account Numbering

    Uploaded by

    rjrjrj
    239 views15 pages
    This document outlines an accounting chart of accounts organized into categories including asset, liability, equity, revenue, cost of goods sold, and expense accounts. Asset accounts are broken into current assets like cash, accounts receivable, inventory, and other current assets as well as fixed assets like property, plant, and equipment. Liability accounts separate current obligations from long-term debt. Equity accounts include capital stock and retained earnings. Revenue is broken into sales categories while expenses itemize operating costs.

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    This document outlines an accounting chart of accounts organized into categories including asset, liability, equity, revenue, cost of goods sold, and expense accounts. Asset accounts are broken into current assets like cash, accounts receivable, inventory, and other current assets as well as fixed assets like property, plant, and equipment. Liability accounts separate current obligations from long-term debt. Equity accounts include capital stock and retained earnings. Revenue is broken into sales categories while expenses itemize operating costs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    239 views15 pages

    Chart of Accounts: Account Numbering

    Uploaded by

    rjrjrj
    This document outlines an accounting chart of accounts organized into categories including asset, liability, equity, revenue, cost of goods sold, and expense accounts. Asset accounts are broken into current assets like cash, accounts receivable, inventory, and other current assets as well as fixed assets like property, plant, and equipment. Liability accounts separate current obligations from long-term debt. Equity accounts include capital stock and retained earnings. Revenue is broken into sales categories while expenses itemize operating costs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 15
    At a glance
    Powered by AI
    The document outlines a chart of accounts which categorizes different types of financial accounts for a business.

    Asset, liability, equity, revenue, cost of goods sold and expense accounts are listed.

    Expenses are broken down into categories such as advertising, taxes, supplies, salaries and utilities.

    CHART OF

    ACCOUNTS

    Account Numbering
    1000-1999 ASSET ACCOUNTS
    2000-2999 LIABILITY ACCOUNTS
    3000-3999 EQUITY ACCOUNTS
    4000-4999 REVENUE ACCOUNTS
    5000-5999 COST OF GOODS SOLD
    6000-6999 EXPENSE ACCOUNTS
    7000-7999 OTHER REVENUE
    (for example, interest income)
    8000-8999 OTHER EXPENSE
    ( for example, income taxes)
    Asset Accounts

    Current Asset

    1000 PETTY CASH


    1010 CASH ON HAND (e. g. in cash
    registers)
    1020 REGULAR CHECKING
    ACCOUNT
    1030 PAYROLL CHECKING
    ACCOUNT
    1040 SAVING ACCOUNT
    1050 SPECIAL ACCOUNT
    1060 INVESTMENTS- MONEY
    MARKET
    1070 INVESTMENTS-
    CERTIFICATES OF DEPOSIT
    1100 ACCOUNTS RECEIVABLE
    1140 OTHER RECEIVABLES
    1150 ALLOWANCE FOR
    DOUBTFUL ACCOUNTS
    1200 RAW MATERIALS
    INVENTORY
    1205 SUPPLIES INVENTORY
    1210 WORK IN PROGRESS
    INVENTORY
    1215 FINISHED GOODS
    INVENTORY-PRODUCT #1
    1220 FINISHED GOODS
    INVENTORY- PRODUCT #2
    1230 FINISHED GOODS
    INVENTORY- PRODUCT #3
    1400 PREPAID EXPENSES
    1410 EMPLOYEE ADVANCES
    1420 NOTES RECEIVABLE-
    CURRENT
    1430 PREPAID INTEREST
    1470 OTHER CURRENT ASSETS

    FIXED ASSETS
    1500 Furniture and Fixtures
    1510 Equipment
    1520 Vehicles
    1530 Other Depreciable Property
    1540 Leasehold Improvements
    1550 Buildings
    1560 Building Improvements
    1690 Land
    1700 Accumulated Depreciation,
    Furniture and Fixtures
    1710 Accumulated Depreciation,
    Equipment
    1720 Accumulated Depreciation,
    Vehicles
    1730 Accumulated Depreciation,
    Other
    1740 Accumulated Depreciation,
    Leasehold
    1750 Accumulated Depreciation,
    Buildings
    1760 Accumulated Depreciation,
    Building Improvement
    OTHER ASSETS

    1900 Deposits
    1910 Organizations Costs
    1915 Accumulated Amortization,
    Organization Costs
    1920 Notes Receivable, Non-current
    1990 Other Non-current Assets

    Liability Accounts

    Current liabilities

    200 Accounts Payable


    0
    230 Accrued Expenses
    0
    2310 Sales Tax Payable
    232 Wages Payable
    0
    233 401-K Deductions Payable
    0
    233 Health Insurance Payable
    5
    234 Federal Payroll Taxes Payable
    0
    235 FUTA Tax Payable
    0
    236 State Payroll Tax Payable
    0
    237 SUTA Payable
    0
    238 Local Payroll Taxes Payable
    0
    239 Income Taxes Payable
    0
    240 Other Taxes Payable
    0
    2410 Employee Benefits Payable
    242 Current Portion of Long-term
    0 Debt
    244 Deposits from Customers
    0
    248 Other Current Liabilities
    0

    Long-term Liabilities

    270 Notes Payable


    0
    270 Land Payable
    2
    270 Equipment Payable
    4
    270 Vehicles Payable
    6
    270 Bank Loans Payable
    8
    2710 Deferred Revenue
    274 Other Long-term Liabilities
    0

    Equity Accounts

    3010 Stated Capital


    302 Capital Surplus
    0
    303 Retained Earnings
    0

    Revenue Accounts

    400 Product #1 Sales


    0
    402 Product #2 Sales
    0
    404 Product #3 Sales
    0
    406 Interest Income
    0
    408 Other Income
    0
    454 Finance Charge Income
    0
    455 Shipping Charges Reimbursed
    0
    480 Sales Returns and Allowances
    0
    490 Sales Discounts
    0

    Cost of Goods Sold

    500 Product #1 Cost


    0
    5010 Product #2 Cost
    502 Product #3 Cost
    0
    505 Raw Material Purchases
    0
    5100 Direct Labor Costs
    5150 Indirect Labor Costs
    520 Heat and Power
    0
    525 Commissions
    0
    530 Miscellaneous Factory Costs
    0
    570 Cost of Goods Sold, Salaries
    0 and Wages
    573 Cost of Goods Sold, Contract
    0 Labor
    575 Cost of Goods Sold, Freight
    0
    580 Cost of Goods Sold, Other
    0
    585 Inventory Adjustments
    0
    590 Purchase Returns and
    0 Allowances
    595 Purchase Discounts
    0
    Expenses

    600 Default Purchase Expense


    0
    6010 Advertising Expense
    605 Amortization Expense
    0
    6100 Auto Expense
    6150 Bad Debt Expense
    620 Bank fees
    0
    625 Cash Over and Short
    0
    630 Charitable Contributions
    0 Expense
    635 Commissions and Fees
    0 Expense
    640 Depreciation Expense
    0
    645 Dues and Subscriptions
    0 Expense
    650 Employee Benefits Expense,
    0 Health Insurance
    6510 Employee Benefits Expense,
    Pension Plan
    652 Employee Benefits Expense,
    0 Profit Sharing Plan
    653 Employee Benefits Expense,
    0 Other
    655 Freight Expense
    0
    660 Gifts Expense
    0
    665 Income Tax Expense, Federal
    0
    666 Income Tax Expense, State
    0
    667 Income Tax Expense, Local
    0
    670 Insurance Expense, Product
    0 Liability
    6710 Insurance Expense, Vehicle
    675 Interest Expense
    0
    680 Laundry and Dry Cleaning
    0 Expense
    685 Legal and Professional
    0 Expense
    690 Licenses Expense
    0
    695 Loss on NSF Checks
    0
    700 Maintenance Expense
    0
    705 Meals and Entertainment
    0 Expense
    7100 Office Expense
    720 Payroll Tax Expense
    0
    725 Penalties and Fines Expense
    0
    730 Other Taxes
    0
    735 Postage Expense
    0
    740 Rent or Lease Expense
    0
    745 Repair and Maintenance
    0 Expense, Office
    746 Repair and Maintenance
    0 Expense, Vehicle
    755 Supplies Expense, Office
    0
    760 Telephone Expense
    0
    762 Training Expense
    0
    765 Travel Expense
    0
    770 Salaries Expense, Officers
    0
    775 Wages Expense
    0
    780 Utilities Expense
    0
    890 Other Expense
    0
    900 Gain/Loss on Sale of Assets
    0

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