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Chart of Accounts
Following is a typical chart of accounts, which is used in several assignments. Every company has its own unique accounts and numbering system.
Assets
Current Assets
101
102
103
104
105
106
107
108
109
110
111
119
120
121
124
125
126
128
129
131
132
133
134
135
Cash
Petty cash
Cash equivalents
Short-term investments
Fair value adjustment, _______ securities (S-T)
Accounts receivable
Allowance for doubtful accounts
Legal fees receivable
Interest receivable
Rent receivable
Notes receivable
Merchandise inventory
__________ inventory
__________ inventory
Office supplies
Store supplies
_______ supplies
Prepaid insurance
Prepaid interest
Prepaid rent
Raw materials inventory
Goods in process inventory, _______
Goods in process inventory, _______
Finished goods inventory
Long-Term Investments
141
142
144
145
Long-term investments
Fair value adjustment, _______ securities (L-T)
Investment in _______
Bond sinking fund
166 Accumulated depreciation — Store equipment
167 _______ equipment
168 Accumulated depreciation — _______
equipment
169 Machinery
170 Accumulated depreciation — Machinery
173 Building _______
174 Accumulated depreciation — Building _______
175 Building _______
176 Accumulated depreciation — Building _______
179 Land improvements _______
180 Accumulated depreciation — Land
improvements _______
181 Land improvements _______
182 Accumulated depreciation — Land
improvements _______
183 Land
Natural Resources
185 Mineral deposit
186 Accumulated depletion — Mineral deposit
Intangible Assets
191
192
193
194
195
196
197
Patents
Leasehold
Franchise
Copyrights
Leasehold improvements
Licenses
Accumulated amortization— _______
Liabilities
Plant Assets
Current Liabilities
151
152
153
154
155
156
157
158
201
202
203
204
207
208
209
210
211
214
215
216
217
218
219
221
159
160
161
162
163
164
165
CA
Automobiles
Accumulated depreciation — Automobiles
Trucks
Accumulated depreciation — Trucks
Boats
Accumulated depreciation — Boats
Professional library
Accumulated depreciation — Professional
library
Law library
Accumulated depreciation — Law library
Furniture
Accumulated depreciation — Furniture
Office equipment
Accumulated depreciation — Office equipment
Store equipment
Accounts payable
Insurance payable
Interest payable
Legal fees payable
Office salaries payable
Rent payable
Salaries payable
Wages payable
Accrued payroll payable
Estimated warranty liability
Income taxes payable
Common dividend payable
Preferred dividend payable
State unemployment taxes payable
Employee federal income taxes payable
Employee medical insurance payable
222
223
224
225
226
Employee retirement program payable
Employee union dues payable
Federal unemployment taxes payable
FICA taxes payable
Estimated vacation pay liability
Unearned Revenues
230
231
232
233
234
235
236
238
Unearned consulting fees
Unearned legal fees
Unearned property management fees
Unearned _______ fees
Unearned _______ fees
Unearned janitorial revenue
Unearned _______ revenue
Unearned rent
Notes Payable
240
241
245
251
252
Short-term notes payable
Discount on short-term notes payable
Notes payable
Long-term notes payable
Discount on long-term notes payable
Long-Term Liabilities
253
255
256
257
258
Long-term lease liability
Bonds payable
Discount on bonds payable
Premium on bonds payable
Deferred income tax liability
Equity
Owner’s Equity
301
302
303
304
305
306
______________, Capital
______________, Withdrawals
______________, Capital
______________, Withdrawals
______________, Capital
______________, Withdrawals
Paid-In Capital
307
308
309
310
311
Common stock, $ _______ par value
Common stock, no-par value
Common stock, $ _______ stated value
Common stock dividend distributable
Paid-in capital in excess of par value,
Common stock
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Chart of Accounts
312 Paid-in capital in excess of stated value,
No-par common stock
313 Paid-in capital from retirement of common stock
314 Paid-in capital, Treasury stock
315 Preferred stock
316 Paid-in capital in excess of par value,
Preferred stock
Standard Cost Variance
Miscellaneous Expenses
580
581
582
583
584
585
655
656
657
658
659
661
662
663
664
667
668
671
672
673
674
676
677
678
679
680
681
682
683
684
685
687
688
689
690
691
695
Direct material quantity variance
Direct material price variance
Direct labor quantity variance
Direct labor price variance
Factory overhead volume variance
Factory overhead controllable variance
Retained Earnings
318 Retained earnings
319 Cash dividends (or Dividends)
320 Stock dividends
Other Equity Accounts
321 Treasury stock, Common
322 Unrealized gain — Equity
323 Unrealized loss — Equity
Revenues
401
402
403
404
405
406
407
408
409
410
413
414
415
______________ fees earned
______________ fees earned
______________ services revenue
______________ services revenue
Commissions earned
Rent revenue (or Rent earned)
Dividends revenue (or Dividend earned)
Earnings from investment in _______
Interest revenue (or Interest earned)
Sinking fund earnings
Sales
Sales returns and allowances
Sales discounts
Cost of Sales
Cost of Goods Sold
502
505
506
507
508
Cost of goods sold
Purchases
Purchases returns and allowances
Purchases discounts
Transportation-in
Manufacturing
520
521
530
531
540
541
542
543
544
545
546
547
548
549
550
551
552
560
561
Raw materials purchases
Freight-in on raw materials
Factory payroll
Direct labor
Factory overhead
Indirect materials
Indirect labor
Factory insurance expired
Factory supervision
Factory supplies used
Factory utilities
Miscellaneous production costs
Property taxes on factory building
Property taxes on factory equipment
Rent on factory building
Repairs, factory equipment
Small tools written off
Depreciation of factory equipment
Depreciation of factory building
CA-1
Expenses
Amortization, Depletion, and
Depreciation
601
602
603
604
605
606
607
608
609
610
611
612
613
614
615
Amortization expense — _______
Amortization expense — _______
Depletion expense — _______
Depreciation expense — Boats
Depreciation expense — Automobiles
Depreciation expense — Building _______
Depreciation expense — Building _______
Depreciation expense — Land
improvements _______
Depreciation expense — Land
improvements _______
Depreciation expense — Law library
Depreciation expense — Trucks
Depreciation expense — _______ equipment
Depreciation expense — _______ equipment
Depreciation expense — _______
Depreciation expense — _______
Employee-Related Expenses
620
621
622
623
624
625
Office salaries expense
Sales salaries expense
Salaries expense
_______ wages expense
Employees’ benefits expense
Payroll taxes expense
Financial Expenses
630
631
632
633
Cash over and short
Discounts lost
Factoring fee expense
Interest expense
Insurance Expenses
635 Insurance expense — Delivery equipment
636 Insurance expense — Office equipment
637 Insurance expense — _______
Rental Expenses
640
641
642
643
644
645
Rent expense
Rent expense — Office space
Rent expense — Selling space
Press rental expense
Truck rental expense
_______ rental expense
Supplies Expenses
650
651
652
653
Office supplies expense
Store supplies expense
_______ supplies expense
_______ supplies expense
Advertising expense
Bad debts expense
Blueprinting expense
Boat expense
Collection expense
Concessions expense
Credit card expense
Delivery expense
Dumping expense
Equipment expense
Food and drinks expense
Gas and oil expense
General and administrative expense
Janitorial expense
Legal fees expense
Mileage expense
Miscellaneous expenses
Mower and tools expense
Operating expense
Organization expense
Permits expense
Postage expense
Property taxes expense
Repairs expense — _______
Repairs expense — _______
Selling expense
Telephone expense
Travel and entertainment expense
Utilities expense
Warranty expense
Income taxes expense
Gains and Losses
701
702
703
704
705
706
801
802
803
804
805
806
807
808
809
810
811
812
Gain on retirement of bonds
Gain on sale of machinery
Gain on sale of investments
Gain on sale of trucks
Gain on _______
Foreign exchange gain or loss
Loss on disposal of machinery
Loss on exchange of equipment
Loss on exchange of _______
Loss on sale of notes
Loss on retirement of bonds
Loss on sale of investments
Loss on sale of machinery
Loss on _______
Unrealized gain — Income
Unrealized loss — Income
Impairment gain
Impairment loss
Clearing Accounts
901 Income summary
902 Manufacturing summary