ACC 221 Account Types

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Liability

Account Type: Accounts Payable

Asset

Account Type: Accounts Receivable

Contra Asset

Account Type: Accumulated Depreciation

Asset

Account Type: Cash

Equity

Account Type: Common Stock

Expense

Account Type: Cost of Goods Sold

Expense

Account Type: Depreciation Expense

Dividend

Account Type: Dividend

Liability

Account Type: Dividend Payable

Asset

Account Type: Equipment

Expense

Account Type: Interest Expense

Liability

Account Type: Interest Payable

Asset

Account Type: Inventory

Liability

Account Type: Note Payable

Expense

Account Type: Rental Expenses

Expense

Account Type: Repair Expenses

Equity

Account Type: Retained Earnings

Revenue

Account Type: Service Revenue

Asset

Account Type: Supplies

Expense

Account Type: Supplies Expense

Liability

Account Type: Unearned Revenue

Expense

Account Type: Wages Expense

Liability

Account Type: Wages Payable

Revenue - All Expense Accounts

How to calculate Net Income

Assets Liabilities Equity Accumulated Depreciation

What accounts are shown on the Balance Sheet?

Revenue and Expenses

What accounts are shown on the income statement?

All Accounts

What accounts are shown on the post closing trial balance?

All Accounts

What accounts are shown on the trial balance?


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