Account Name/Title
Assets
Cash
Petty Cash
Accounts Receivable
Allowance for Doubtful Accounts (contra-asset)
Inventory
Supplies
Prepaid Expenses (prepaid rent, prepaid insurance)
Land
Buildings
Equipment
Machinery
Furniture and Fixtures
Vehicles
Accumulated Depreciation (contra asset)
Liabilities
Accounts Payable
Notes Payable (Short-term)
Accrued Expenses (e.g., Accrued Salaries, Accrued Interest)
Taxes Payable (e.g., Income Tax Payable, Sales Tax Payable)
Unearned Revenue (Advance payments from customers)
Dividends Payable
Short-term Loans Payable
Long-term Notes Payable
Bonds Payable
Mortgage Payable
Deferred Tax Liabilities
Lease Payable
Equity
Owner’s Capital / Common Stock
Preferred Stock
Additional Paid-in Capital
Retained Earnings
Owner’s Drawings / Withdrawals
Revenue
Operating Revenue(Main Business Income)
Sales Revenue
Service Revenue
Interest Revenue
Rent Revenue
Commission Revenue
Non-operating Revenue (other income resources)
Dividend Income
Gain on Sale of Assets
Other income
Expenses (Cost incurred to run a business)
Cost of Goods Sold (COGS)
Salaries and Wages Expense
Rent Expense
Utilities Expense
Supplies Expense
Insurance Expense
Advertising Expense
Depreciation Expense
Amortization Expense
Repairs and Maintenance Expense
Administrative & General Expenses
Office Supplies Expense
Legal and Professional Fees
Bank Charges
Travel and Entertainment Expense
Telephone and Internet Expense
Financial Expenses
Interest Expense
Income Tax Expense
Loss on Sale of Assets