ACCOUNTING 1A

CHART OF ACCOUNTS
ASSETS

C NC PP Inv Inta O
A A E est n A
ACCOUNT TITLES
Cash ∕
1 Accounts Payable
2 Accrued Expenses
3 Accumulated depreciation
4 Advertising Expense
5 Allowance for doubtful accounts
6 Copyright
7 Depreciation Expense
8 Doubtful Account Expense
9 Drawing
10 Franchise
11 Freight In
12 Furnitures and Fixtures
13 Income tax Payable
14 Interest Income
15 Interest Receivable
16 Internet Fees
17 Land
18 Land held for speculation
Light, water and communication
19 expense
20 Machineries
21 Mortgage Payable
22 Notes Payable
23 Notes Receivable
24 Office Equipment
25 Owner’s capital
26 Prepaid Advertising
27 Prepaid Insurance
28 Professional Fees
29 Purchases
30 Refundable Deposits
31 Rent Expense
32 Representation Expense
33 Salaries and Wages
34 Sales
35 Supplies
36 Supplies Expense
37 Taxes and Licenses
38 Transportation Expense
39 Unearned Income
40 Withholding Tax Payable
required:
Classify the account by writing check mark ( ) on the appropriate column
Legend: CA= current asset; NCA= non current assets; PPE= Property, plant and Equipment;
Invest= investment; Intan= intangibles; OA=Other assets; CL= current liabilities
NCL=non current liabilities; EQ= Equity; Rev= revenue; and EXP= expenses; Cont A= contra asset
 LIABILITIES EQUITY

Co CL NC Ca Dr Re Ex
nt L pita aw v p
A l ing
CLASSIFY THE FOLLOWING ACCOUNTS

F/S

1 Cash on Hand SFP

2 Accounts Payable SFP
3 Accrued Expenses SFP
4 Accumulated depreciation
5 Advances from customers SFP
6 Advances of employees collectible currently SFP
7 Advances of officers (not currently collectible) SFP
8 Advertising Expense I/S
9 Allowance for doubtful accounts SFP
10 Bonds Payable due 5 yrs after the reporting period
11 Cash in Bank -Current SFP
12 Cash in Bank-Savings SFP
13 Cash surrender Value SFP
14 Claim Receivable SFP
15 Copyright SFP
16 customers deposit SFP
17 Depreciation Expense I/S
18 Doubtful Account Expense I/S
19 Drawing SFP
20 Factory supplies SFP
21 Finished goods SFP
22 Franchise SFP
23 Freight In I/S
24 Furnitures and Fixtures SFP
25 Goods in process SFP
26 Goodwill SFP
27 Income tax Payable SFP
28 Interest Income 1/S
29 Interest Receivable SFP
30 Internet Fees I/S
31 Investment in Bonds SFP
32 Land SFP
33 Land held for speculation SFP
34 Machinery SFP
35 MDSE Inventory SFP
36 Mortgage Payable
37 Notes Payable SFP
38 Notes Receivable SFP
39 Office Equipment SFP
40 Ordinary shares SFP
41 Owner’s capital SFP
42 Petty cash Fund SFP
43 Plant Expansion Fund SFP
44 Preference redemption Fund SFP
45 Preference share SFP
46 Prepaid Advertising SFP
47 Prepaid Insurance SFP
48 Prepaid Taxes SFP
49 Professional Fees I/S
50 Purchases I/S
51 Raw Materials Inventory SFP
52 Refundable Deposits SFP
53 Rent Expense I/S
54 Representation Expense I/S
55 Retained Earnings SFP
56 Salaries and Wages I/S
57 Sales I/S
58 Share Premium SFP
59 Sinking Fund SFP
60 Supplies SFP
61 Supplies Expense I/S
62 Taxes and Licenses I/S
63 Time deposit SFP
64 Tools SFP
65 Trading Securities SFP
66 Transportation Expense IS
67 Unearned Income SFP
68 Unused Supplies SFP
69 Withholding Tax Payable -compensation SFP
 Sub Line Items
classificati
on
CA Cash and Cash Equivalents
CL Trade and Other payables
CL Trade and Other payables

CL Trade and Other payables

CA Trade and Other receivables
NCA Long-term investments
OPE Selling expenses
CA (contra Asset) Trade and Other receivables

CA Cash and Cash Equivalents

CA Cash and Cash Equivalents
NCA Long-term investments
CA Trade and Other receivables
NCA Intangibles Assets
CL Trade and Other payables
OPE Adm or Selling expense
OPE Adm or Selling expense
Equity
CA Prepaid Expenses
CA Inventories
NCA Intangibles Assets
C/S
NCA PPE
 CA Inventories
NCA Intangibles Assets
CL Trade and Other payables
Revenues Other Income or Revenues
CA Trade and Other receivables
Revenues
NCA Long-term investments
NCA PPE
NCA Long-term investments
NCA PPE
CA MDSE Inventory

CL Trade and Other payables

CA Trade and Other receivables
NCA PPE
SHE ordinary shares (Paid-in capital)
OE Owner's Capital
CA Cash and Cash Equivalents
NCA Long-term investments
NCA Long-term investments
SHE Preference share
CA Prepaid Expenses
CA Prepaid Expenses
CA Prepaid Expenses
Revenues
C/S cost of sales
CA Inventories
NCA Other noncurrent assets
OPE Selling/Admin Expenses
 OPE Selling/Admin Expenses
SHE Retained Earnings
OPE Selling/Admin Expenses
Revenues
SHE Share Premium (Paid-in capital)
NCA Long-term investments
CA Prepaid Expenses
OPE Admin Expenses
OPE Admin Expenses
CA Cash and Cash Equivalents
NCA PPE
CA Financial Assets
OPE Selling/Admin Expenses
CL Trade and Other payables
CA Prepaid Expenses
CL Trade and Other payables
QUIZ ACCTG 1A
IDENTIFY THE NORMAL BALANCE OF THE ACCOUNT. DETERMINE THE CORRECT PLACEMENT OF DEB

ACCOUNT TITLES NORMAL BALANCE

EXAMPLE Cash DR
1 Accounts Payable
2 Accrued Expenses
3 Accumulated depreciation
4 Advertising Expense
5 Allowance for doubtful
accounts
Copyright
6
7 Depreciation Expense
8 Doubtful Account Expense
9 Drawing
10 Franchise
11 Freight In
12 Furnitures and Fixtures
13 Income tax Payable
14 Interest Income
15 Interest Receivable
16 Internet Fees
17 Land
18 Land held for speculation
Light, water and
communication expense
19
20 Machineries
21 Mortgage Payable
22 Notes Payable
23 Notes Receivable
24 Office Equipment
25 Owner’s capital
26 Prepaid Advertising
27 Prepaid Insurance
28 Professional Fees
29 Purchases
30 Refundable Deposits
31 Rent Expense
32 Representation Expense
33 Salaries and Wages
34 Sales
35 Supplies
36 Supplies Expense
37 Taxes and Licenses
38 Transportation Expense
39 Unearned Income
40 Withholding Tax Payable
E THE CORRECT PLACEMENT OF DEBIT OR CREDIT WHEN THE ACCOUNT IS TO BE INCREASED OR DECREASED

INCREASE DECREASE
DR CR
CREASED OR DECREASED