Account Names
Cash
Cash on hand or deposits in banks
Intangible Assets
Items like patents and copyrights that provide future benefit but do not have physical substance. Only recognized if purchased from outside source
Sales or Operating Revenues
amount earned and expected to be received from customers for goods or services already delivered
Advertising Expense
amount of advertising performed during the period
Additional Paid in capital
amount of cash the firm received above par value when the stock was issued aggregated over the life of the firm
Preferred stock
amount of cash the firm received for stock giving the holder a preference relative to common stock holders in terms of dividends and assets received if the firm is liquidated.
Interest Expense
amount of expense incurred for money borrowed during the period
Insurance Expense
amount of insurance used up during the period
Long-Term Debt
amount of obligations to be paid more than 1 year later
Rent Expense
amount of rent used up during the period
Wage or Salary Expense
amount of wages employees have earned during the period
Other payables or accrued expenses
amount owed for expenses like interest, taxes, salaries, and rent that have already incurred
Accounts Payable
amount owed to suppliers for inventory purchased on credit
Accounts Receivable
amounts due from customers for goods and services already delivered
Prepaid Expenses
asset recognized when cash paid in advance of when future expenses will be incurred
Property, plant, and equipment, net
buildings, land, and equipment used in operations minus accumulated depreciation
Treasury Stock
cost of stock repurchased by the firm and held internally
Cost of Goods Sold or Cost of Sales Revenue
cost to the selling firm for goods or services delivered during the period
Retained Earnings
cumulative net income minus dividends over the life of the firm
Inventory
goods in the process of being manufactured or available for sale to customers
Other Revenue
interest revenue or gains on investments held
Long-term investments
investments expected to be held for more than a year
Marketable Securities
investments that can be quickly sold for cash
Unearned revenue or advances
liability obligation incurred because cash was received from customers in advance of when revenue is earned by delivering goods or services to the customer
Common stock at par
par value of stock issued for common stock aggregated over the life of the firm
Current maturities of long-term debt
portion of long-term debt to be paid within the next year
Goodwill
purchase price of an acquired company minus the market value of the identifiable assets minus liabilities of that company.