wiL62279 CA CA CA1 indd Following is a typical chart of accounts, which is used in several assignments Each company has its own unique set of accounts and numbering system *An asterisk denotes a contr[.]
wiL62279_CA_CA-CA1.indd Page 22/08/14 5:34 PM f-500 /205/MH02183/wiL62279_disk1of1/0077862279/wiL62279_pagefiles Chart of Accounts Following is a typical chart of accounts, which is used in several assignments Each company has its own unique set of accounts and numbering system *An asterisk denotes a contra account Assets Current Assets 101 102 103 104 105 106 107 108 109 110 111 119 120 121 124 125 126 128 129 131 132 133 134 135 Cash Petty cash Cash equivalents Short-term investments Fair value adjustment, _ securities (S-T) Accounts receivable Allowance for doubtful accounts* Legal fees receivable Interest receivable Rent receivable Notes receivable Merchandise inventory (or Inventory) inventory inventory Office supplies Store supplies _ supplies Prepaid insurance Prepaid interest Prepaid rent Raw materials inventory Work in process inventory, _ Work in process inventory, _ Finished goods inventory Long-Term Investments 141 Long-term investments 142 Fair value adjustment, _ securities (L-T) 144 Investment in _ 145 Bond sinking fund Plant Assets 151 152 153 154 155 156 157 158 159 160 161 162 163 164 CA Automobiles Accumulated depreciation—Automobiles* Trucks Accumulated depreciation—Trucks* Boats Accumulated depreciation—Boats* Professional library Accumulated depreciation—Professional library* Law library Accumulated depreciation—Law library* Furniture Accumulated depreciation—Furniture* Office equipment Accumulated depreciation—Office equipment* 165 Store equipment 166 Accumulated depreciation—Store equipment* 167 _ equipment 168 Accumulated depreciation— _ equipment* 169 Machinery 170 Accumulated depreciation—Machinery* 173 Building _ 174 Accumulated depreciation—Building _* 175 Building _ 176 Accumulated depreciation—Building _* 179 Land improvements _ 180 Accumulated depreciation—Land improvements _* 181 Land improvements _ 182 Accumulated depreciation—Land improvements _* 183 Land 218 219 221 222 223 224 225 226 State unemployment taxes payable Employee federal income taxes payable Employee medical insurance payable Employee retirement program payable Employee union dues payable Federal unemployment taxes payable FICA taxes payable Estimated vacation pay liability Unearned Revenues 230 231 232 233 234 235 236 238 Unearned consulting fees Unearned legal fees Unearned property management fees Unearned _ fees Unearned _ fees Unearned janitorial revenue Unearned _ revenue Unearned rent Notes Payable 185 Mineral deposit 186 Accumulated depletion—Mineral deposit* 240 241 245 251 252 Intangible Assets Long-Term Liabilities 191 192 193 194 195 196 197 253 255 256 257 258 Natural Resources Patents Leasehold Franchise Copyrights Leasehold improvements Licenses Accumulated amortization— _* Liabilities Current Liabilities 201 202 203 204 207 208 209 210 211 212 214 215 216 217 Accounts payable Insurance payable Interest payable Legal fees payable Office salaries payable Rent payable Salaries payable Wages payable Accrued payroll payable Factory payroll payable Estimated warranty liability Income taxes payable Common dividend payable Preferred dividend payable Short-term notes payable Discount on short-term notes payable* Notes payable Long-term notes payable Discount on long-term notes payable* Long-term lease liability Bonds payable Discount on bonds payable* Premium on bonds payable Deferred income tax liability Equity Owner’s Equity 301 302 303 304 305 306 , Capital , Withdrawals , Capital , Withdrawals , Capital , Withdrawals Paid-In Capital Common stock, $ _ par value Common stock, no-par value Common stock, $ _ stated value Common stock dividend distributable Paid-in capital in excess of par value, Common stock 312 Paid-in capital in excess of stated value, No-par common stock 307 308 309 310 311 wiL62279_CA_CA-CA1.indd Page CA-1 22/08/14 5:34 PM f-500 /205/MH02183/wiL62279_disk1of1/0077862279/wiL62279_pagefiles CA-1 Chart of Accounts 313 Paid-in capital from retirement of common stock 314 Paid-in capital, Treasury stock 315 Preferred stock 316 Paid-in capital in excess of par value, Preferred stock Retained Earnings 318 Retained earnings 319 Cash dividends (or Dividends) 320 Stock dividends Other Equity Accounts 321 Treasury stock, Common* 322 Unrealized gain—Equity 323 Unrealized loss—Equity Revenues 401 402 403 404 405 406 407 408 409 410 413 414 415 fees earned fees earned revenues Revenues Commissions earned Rent revenue (or Rent earned) Dividends revenue (or Dividends earned) Earnings from investment in _ Interest revenue (or Interest earned) Sinking fund earnings Sales Sales returns and allowances* Sales discounts* Cost of Sales Cost of Goods Sold 502 505 506 507 508 Cost of goods sold Purchases Purchases returns and allowances* Purchases discounts* Transportation-in Manufacturing 520 521 530 540 541 542 543 544 545 546 547 548 549 550 551 552 560 561 Raw materials purchases Freight-in on raw materials Direct labor Factory overhead Indirect materials Indirect labor Factory insurance expired Factory supervision Factory supplies used Factory utilities Miscellaneous production costs Property taxes on factory building Property taxes on factory equipment Rent on factory building Repairs, factory equipment Small tools written off Depreciation of factory equipment Depreciation of factory building Standard Cost Variances 580 581 582 583 584 585 Direct material quantity variance Direct material price variance Direct labor quantity variance Direct labor price variance Factory overhead volume variance Factory overhead controllable variance Expenses Amortization, Depletion, and Depreciation 601 602 603 604 605 606 607 608 609 610 611 612 613 614 615 Amortization expense— _ Amortization expense— _ Depletion expense— _ Depreciation expense—Boats Depreciation expense—Automobiles Depreciation expense—Building _ Depreciation expense—Building _ Depreciation expense—Land improvements _ Depreciation expense—Land improvements _ Depreciation expense—Law library Depreciation expense—Trucks Depreciation expense— _ equipment Depreciation expense— _ equipment Depreciation expense— _ Depreciation expense— _ Employee-Related Expenses 620 621 622 623 624 625 Office salaries expense Sales salaries expense Salaries expense _ wages expense Employees’ benefits expense Payroll taxes expense Financial Expenses 630 631 632 633 Cash over and short Discounts lost Factoring fee expense Interest expense Insurance Expenses 635 Insurance expense — Delivery equipment 636 Insurance expense — Office equipment 637 Insurance expense — _ Rental Expenses 640 641 642 643 644 645 Rent expense Rent expense — Office space Rent expense — Selling space Press rental expense Truck rental expense _ rental expense Supplies Expenses 650 Office supplies expense 651 Store supplies expense 652 _ supplies expense 653 _ supplies expense Miscellaneous Expenses 655 656 657 658 659 661 662 663 664 667 668 671 672 673 674 676 677 678 679 680 681 682 683 684 685 687 688 689 690 691 692 695 Advertising expense Bad debts expense Blueprinting expense Boat expense Collection expense Concessions expense Credit card expense Delivery expense Dumping expense Equipment expense Food and drinks expense Gas and oil expense General and administrative expense Janitorial expense Legal fees expense Mileage expense Miscellaneous expenses Mower and tools expense Operating expense Organization expense Permits expense Postage expense Property taxes expense Repairs expense — _ Repairs expense — _ Selling expense Telephone expense Travel and entertainment expense Utilities expense Warranty expense _ expense Income taxes expense Gains and Losses 701 702 703 704 705 706 801 802 803 804 805 806 807 808 809 810 811 812 Gain on retirement of bonds Gain on sale of machinery Gain on sale of investments Gain on sale of trucks Gain on _ Foreign exchange gain or loss Loss on disposal of machinery Loss on exchange of equipment Loss on exchange of _ Loss on sale of notes Loss on retirement of bonds Loss on sale of investments Loss on sale of machinery Loss on _ Unrealized gain — Income Unrealized loss — Income Impairment gain Impairment loss Clearing Accounts 901 Income summary 902 Manufacturing summary ... retirement of bonds Gain on sale of machinery Gain on sale of investments Gain on sale of trucks Gain on _ Foreign exchange gain or loss Loss on disposal of machinery Loss on exchange of equipment... 22/08/14 5:34 PM f-500 /205/MH02183/wiL62279_disk 1of1 /0077862279/wiL62279_pagefiles CA-1 Chart of Accounts 313 Paid-in capital from retirement of common stock 314 Paid-in capital, Treasury stock... Loss on exchange of equipment Loss on exchange of _ Loss on sale of notes Loss on retirement of bonds Loss on sale of investments Loss on sale of machinery Loss on _ Unrealized gain — Income