Acct Classifications 2

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Accounting

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Freight-Out

Operating Expense - Income Statement

Freight-In

Temporary account closed to cost of good sold - balance sheet system used for COGS

Furniture and Fixtures

Property, plant, and equipment - Balance sheet

Gain on Disposal of Plant Assets

Other revenues and gains - income statement

Income Tax Expense

Income tax Expense - Income Statement

Income Taxes Payable

Current Liability - Balance Sheet

Insurance Expense

Operating Expense - Income Statement

Intellectual Property Rights

Intangible Asset - balance sheet

Interest Expense

other expenses and losses - income statement

Interest Payable

current liability - balance sheet

Interest Receivable

current asset - balance sheet

Interest Income or Interest Revenue

Other revenues and gain - income statement

Inventory

current asset - balance sheet & inc stmt if periodic system used for COGS

Investment Income

Other revenues and gain - income statement

Investment Loss

Other expenses and losses - income statement

Investment in Real Estate

Long-Term Investment - Balance sheet

Land (held for operations only)

Property, plant, and equipment - Balance sheet

Loss on Disposal of Plant Assets

Other expenses and losses - income statement

Maintenance and Repairs Expense

Operating Expense - Income Statement

Machinery

Property, plant, and equipment - Balance sheet

Marketable Securities (Investments)

Current Asset - Balance Sheet

Merchandise Inventory

Current Asset -balance sheet system used for COGS

Miscellaneous Expense

Operating Expense - Income Statement

Mortgage Payable

Long-Term Liability - Balance Sheet

Notes Payable (current portion only)

Current Liability - Balance Sheet

Notes Payable (long-term portion only)

Long-Term Liability - Balance Sheet

Notes Receivable (current portion only)

Current Asset - Balance Sheet

Notes Receivable (long-term portion only)

Long-Term Investement - Balance Sheet

Office Equipment

Property, plant, and equipment - Balance sheet

Office Expense

Operating Expense - Income Statement

Office Furniture

Property, plant, and equipment - Balance sheet

Other Assets (list any non-current assets not already listed)

Other asset - balance sheet

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