Chart of accounts
ACCT 3512 Chart of Accounts
Accounts & 4 Characteristics by 6 Acct Types: FS, Real vs. Nominal & Normal Acct Bal (NAB) mjm cpa 9/13
(Contra Accts) [Historical Cost Exceptions] (ACCT 3512 emphasized accts in italics) by Marco J. Malandra, CPA 1. ASSETS: BS, Real, Dr NAB, (Cr if contra) 3. SHs’ EQUITY: BS, Real, Cr NAB (Dr if contra) Current [generally]: IC accts: Preferred Stock [at Par Value]
Cash (Money Orders,Checks,Checking, Savings, Petty) Additional-paid-in-capital –Preferred Stock[HC-PV]
Cash Equivalents (safe investment; < 3 mo. maturity) Common Stock [at Par Value]
Trading & Available-for-sale Securities [at Fair Value] Additional-paid-in-capital –Common Stock[HC-PV]
Accts|Trade Receivable [at Net RealizableValue(-ADA)] Paid-in-capital –Stock Options or –Expired SO’s
(Allowance for Doubtful Accts-Cr NAB) Paid-in-capital –Treasury Stock
Interest(based on cash, not revenue) or Div. Receivable Retained Earnings
Other Receivables (from customers,employees,IRS,etc) (Treasury Stock)
Inventory or Merchandise [at Lower or Cost or Mk] Accumulated Other Comprehensive Gain or (Loss)
(Inventory Purchase Discounts, Returns & Allowances) Unrealized Holding Gain or (Loss)-Equity or -SE
Purchases(Periodic system temp.acct-AJE eliminated) Other Comprehensive Income or (Loss)-Pension PSC
Construction in Process vs (Billing on CIP) [Inv|] Other Comprehensive Income or (Loss)-Pension G/L
Prepaid Exps: Supplies, Prepaid Insur. or Rent 4. REVENUES: IS, Nominal, Cr NAB (Dr if contra) Sales (of products) or Fees (from services) Noncurrent or Long-Term [generally]: (Sales Discounts or Sales Returns & Allowances)
Notes Receivable [often Current] Interest, Dividend, Rent or Lease Revenue
Held-to-Maturity Securities [at Amortized cost]
Accounts & 4 Characteristics by 6 Acct Types: FS, Real vs. Nominal & Normal Acct Bal (NAB) mjm cpa 9/13
(Contra Accts) [Historical Cost Exceptions] (ACCT 3512 emphasized accts in italics) by Marco J. Malandra, CPA 1. ASSETS: BS, Real, Dr NAB, (Cr if contra) 3. SHs’ EQUITY: BS, Real, Cr NAB (Dr if contra) Current [generally]: IC accts: Preferred Stock [at Par Value]
Cash (Money Orders,Checks,Checking, Savings, Petty) Additional-paid-in-capital –Preferred Stock[HC-PV]
Cash Equivalents (safe investment; < 3 mo. maturity) Common Stock [at Par Value]
Trading & Available-for-sale Securities [at Fair Value] Additional-paid-in-capital –Common Stock[HC-PV]
Accts|Trade Receivable [at Net RealizableValue(-ADA)] Paid-in-capital –Stock Options or –Expired SO’s
(Allowance for Doubtful Accts-Cr NAB) Paid-in-capital –Treasury Stock
Interest(based on cash, not revenue) or Div. Receivable Retained Earnings
Other Receivables (from customers,employees,IRS,etc) (Treasury Stock)
Inventory or Merchandise [at Lower or Cost or Mk] Accumulated Other Comprehensive Gain or (Loss)
(Inventory Purchase Discounts, Returns & Allowances) Unrealized Holding Gain or (Loss)-Equity or -SE
Purchases(Periodic system temp.acct-AJE eliminated) Other Comprehensive Income or (Loss)-Pension PSC
Construction in Process vs (Billing on CIP) [Inv|] Other Comprehensive Income or (Loss)-Pension G/L
Prepaid Exps: Supplies, Prepaid Insur. or Rent 4. REVENUES: IS, Nominal, Cr NAB (Dr if contra) Sales (of products) or Fees (from services) Noncurrent or Long-Term [generally]: (Sales Discounts or Sales Returns & Allowances)
Notes Receivable [often Current] Interest, Dividend, Rent or Lease Revenue
Held-to-Maturity Securities [at Amortized cost]