Account                                          Account                        Normal        Financial

Title                                                Classification               Balance      Statement

Accounts Payable                          Current liability             Credit          Balance sheet

Accounts Receivable                     Current asset               Debit           Balance sheet

Accumulated Depreciation             Fixed asset                  Credit          Balance sheet

Accumulated Depletion                  Fixed asset                  Credit          Balance sheet

Advertising Expense                      Operating expense      Debit           Income statement

Allowance for Doubtful Accounts   Current asset               Credit          Balance sheet

Amortization Expense                    Operating expense      Debit           Income statement

Bonds Payable                               Long‑term liability         Credit          Balance sheet

Building                                           Fixed asset                  Debit           Balance sheet

Capital                                            Owners' equity             Credit          Statement of

owner's equity/ Balance sheet

Capital Stock                                  Stockholders' equity     Credit          Balance sheet

Cash                                               Current asset               Debit           Balance sheet

Cash Dividends                              Stockholders' equity     Debit           Retained earnings

statement

Cash Dividends Payable                Current liability             Credit          Balance sheet

Common Stock                              Stockholders' equity     Credit          Balance sheet

Cost of Merchandise (Goods)        Cost of merchandise   Debit           Income statement

Sold                                                 (goods sold)

Deferred Income Tax Payable       Current liability/Long‑   Credit          Balance sheet

term liability

Depletion Expense                         Operating expense      Debit           Income statement

Discount on Bonds Payable           Long‑term liability         Debit           Balance sheet

Dividend Revenue                          Other income               Credit          Income statement

Dividends                                        Stockholders' equity     Debit           Retained earnings

statement

Donated Capital                              Stockholders' equity     Credit          Balance sheet

Employees Federal Income Tax    Current liability             Credit          Balance sheet

Payable

Equipment                                      Fixed asset                  Debit           Balance sheet

Exchange Gain                               Other income               Credit          Income statement

Exchange Loss                              Other expense             Debit           Income statement

Factory Overhead (Overapplied)   Deferred credit             Credit          Balance sheet (interim)

Factory Overhead (Underapplied)  Deferred debit              Debit           Balance sheet (interim)

Federal Income Tax Payable          Current liability             Credit          Balance sheet

Federal Unemployment Tax           Current liability             Credit          Balance sheet

Payable

Finished Goods                              Current asset               Debit           Balance sheet

Gain on Disposal of Fixed Assets  Other income               Credit          Income statement

Gain on Redemption of Bonds       Extraordinary item       Credit          Income statement

Gain on Sale of Investments          Other income               Credit          income statement

Goodwill                                          Intangible asset            Debit           Balance sheet

Income Tax Expense                      Income tax                   Debit           Income statement

Income Tax Payable                       Current liability             Credit          Balance sheet

Insurance Expense                         Operating expense      Debit           Income statement

Interest Expense                             Other expense             Debit           Income statement

Interest Receivable                         Current asset               Debit           Balance sheet

Interest Revenue                            Other income               Credit          Income statement

Investment in Bonds                       Investment                   Debit           Balance sheet

Investment in Stocks                      Investment                   Debit           Balance sheet

Investment in Subsidiary                Investment                   Debit           Balance sheet

Land                                                Fixed asset                  Debit           Balance sheet

Loss on Disposal of Fixed Assets  Other expense             Debit           Income statement

Loss on Redemption of Bonds       Extraordinary item        Debit           Income statement

Loss on Sale of Investments          Other expense             Debit           Income statement

Marketable Securities                   Current asset                  Debit         Balance sheet

Materials                                        Current asset                  Debit         Balance sheet

Medicare Tax Payable                  Current liability                 Credit        Balance sheet

Merchandise Inventory                  Current asset/Cost of     Debit         Balance sheet/Income

merchandise sold                            statement

Notes Payable                               Current liability/Long‑      Credit        Balance sheet

term liability

Notes Receivable                          Current asset/                 Debit         Balance sheet

Investment

Organization Costs                       Intangible asset               Debit         Balance sheet

Patents                                          Intangible asset               Debit         Balance sheet

Paid‑In Capital from Sale of          Stockholders' equity        Credit        Balance sheet

Treasury Stock

Paid‑In Capital in Excess of          Stockholders' equity        Credit        Balance sheet

Par (Stated Value)

Payroll Tax Expense                     Operating expense          Debit         Income statement

Pension Expense                          Operating expense          Debit         Income statement

Petty Cash                                    Current asset                  Debit         Balance sheet

Premium on Bonds Payable         Long‑term liability            Credit        Balance sheet

Prepaid Insurance                         Current asset                  Debit          Balance sheet

Prepaid Rent                                 Current asset                  Debit          Balance sheet

Preferred Stock                             Stockholders' equity        Credit        Balance sheet

Purchases                                     Cost of merchandise      Debit          Income statement

sold

Purchases Discounts                   Cost of merchandise      Credit        Income statement

sold

Purchases Returns and                Cost of merchandise      Credit        Income statement

Allowances                                      sold

Rent Expense                               Operating expense          Debit          Income statement

Rent Revenue                               Other income                  Credit        Income statement

Retained Earnings                        Stockholders' equity        Credit        Balance sheet/Retained

earnings statement

Salaries Expense                          Operating expense          Debit          Income statement

Salaries Payable                           Current liability                 Credit        Balance sheet

Sales                                             Revenue from sales        Credit        Income statement

Sales Discounts                            Revenue from sales        Debit          Income statement

Sales Returns and Allowances     Revenue from sales       Debit          Income statement

Sales Tax Payable                        Current liability                Credit        Balance sheet

Sinking Fund Cash                        Investment                      Debit          Balance sheet

Sinking Fund Investments             Investment                      Debit          Balance sheet

Social Security Tax Payable         Current liability                Credit        Balance sheet

State Unemployment Tax Payable   Current liability             Credit        Balance sheet

Stock Dividends                            Stockholders' equity        Debit          Retained earnings

statement

Stock Dividends Distributable       Stockholders' equity        Credit        Balance sheet

Supplies                                         Current asset                  Debit          Balance sheet

Supplies Expense                         Operating expense         Debit          Income statement

Transportation In                           Cost of merchandise      Debit          Income statement

sold

Transportation Out                        Operating expense         Debit          Income statement

Treasury Stock                              Stockholders' equity        Debit          Balance sheet

Uncollectible Accounts Expense   Operating expense         Debit          Income statement

Unearned Rent                              Current liability                Credit        Balance sheet

Utilities Expense                            Operating expense         Debit          Income statement

Vacation Pay Expense                  Operating expense         Debit          Income statement

Vacation Pay Payable                   Current liability/Long‑      Credit        Balance sheet

term liability

Work in Process                           Current Asset                  Debit          Balance Sheet