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Comprehensive Chart of Accounts Guide

This document outlines a basic chart of accounts for bookkeeping, including asset, liability, equity, revenue and expense accounts. Assets are listed on the left side and include current assets like cash, accounts receivable, and inventory as well as fixed assets like buildings, machinery and land. Liabilities are shown in the center and include current liabilities such as accounts payable and taxes payable along with long-term liabilities such as notes payable and loans payable. Owners' equity is listed on the right side with accounts for initial capital, retained earnings, and drawings. Revenue and expense accounts are grouped at the bottom.

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Tusshar Ahmed
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226 views1 page

Comprehensive Chart of Accounts Guide

This document outlines a basic chart of accounts for bookkeeping, including asset, liability, equity, revenue and expense accounts. Assets are listed on the left side and include current assets like cash, accounts receivable, and inventory as well as fixed assets like buildings, machinery and land. Liabilities are shown in the center and include current liabilities such as accounts payable and taxes payable along with long-term liabilities such as notes payable and loans payable. Owners' equity is listed on the right side with accounts for initial capital, retained earnings, and drawings. Revenue and expense accounts are grouped at the bottom.

Uploaded by

Tusshar Ahmed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Chart of Accounts

Assets Liabilities Owners Equity


Capital(+) Revenue(+ Expense(-) Drawing(-)
)
(+) Debit (+) Credit (+) Credit (+) Credit (+) Debit (+) Debit
(-) Credit (-) Debit (-) Debit (-) Debit (-) Credit (-) Credit
Current Assets Current Initial Capital Service Advertising Drawing
Liabilities Revenue
Cash Accounts Reinvestment Interest Rent Expense
Payable Income
Accounts Taxes Payable Retained Gain on Sale of Salaries
Receivable Earnings Equipment Expense
Notes Salaries Other Income Utilities
Receivable Payable Expense
Interest Rent Payable Interest
Receivable Expense
Supplies Interest Depreciation
Payable Expense
Inventory Unearned Amortization
Revenue Expense
Bank Wages Freight
Accounts Payable Expense
Prepaid Other Current Insurance
Expenses Liabilities Expense
Fixed Asset Long Term Maintenance
Liabilities Expense
Buildings Notes Payable Postage
Expense
Machinery Loans Payable Training
& Equipment Expense
Vehicles Wages
Expense
Computer Travel Expense
Equipment
Furniture Office Expense
& Fixtures
Land Entertainment
Expense
Bank Charges
Commission
Expense
Repairs
Expense

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