Define the term and which statement it goes on
Accrued revenue
Asset/ Balance Sheet/Debit. A revenue that has been earned but for which the cash has not yet been collected.
Supplies
Asset/Balance Sheet/Debit
Cash
Current Asset / Balance Sheet
Accounts Receivable
Current Asset / Balance Sheet. Amounts to be received in the future due to the sale of goods or services
Inventory
Current Asset / Balance Sheet/Debit. A list of possessions or goods on hand
Prepaid Rent
Current Asset, Balance Sheet, Debit
Short-term investments
Current Asset/Balance Sheet/Debit
Retained earnings
Equity/Balance Sheet/Credit. An amount earned by a corporation and not yet distributed to stockholders.
Contributed Capital
Equity/Balance Sheet/Credit. Owner contributions to a corporation
Operating expenses
Expense/Income Statement/ Debit. Costs involved in operating a business, such as rent, utilities, and salaries.
Research & Development Expense
Expense/Income Statement/Debit
Rent bill
Expense/Income Statement/Debit. Bill for rent (can be divided over years therefore, if it's over a year, it will go on the bottom)
Utility bill
Expense/Income Statement/Debit. Paying for all overhead bills (gas,water, etc.)
COGS
Expense/Income Statement/Debit. beginning inventory + purchases - ending inventory
Non-operating expenses
Expense/Income Statement/Debit. expenses that are not related to a business's normal operations
Depreciation
Expense/Income Statement/Debit. the portion of a plant asset's cost that is transferred to an expense account in each fiscal period during a plant asset's useful life
Notes Payable
Liability/Balance Sheet/Credit. A debt owed to a financial institution
Accounts Payable
Liability/Balance Sheet/Credit. Amounts to be paid in the future for goods or services already acquired
Unearned Revenue
Liability/Balance Sheet/Credit. Money received for a service or product that has yet to be provided or delivered.
Wages Payable
Liability/Balance Sheet/Credit. Wages earned by but not yet paid to employees
Long-term investments
Long term asset/Balance Sheet/Debit
Property, Plant, and Equipment
Long-term assets that are used in the operation of a business and that are subject to depreciation (except for land, which is not depreciated). Anything you can feel and touch (buildings, machinery, office equipment, vehicles) / Balance Sheet