ACCOUNT CLASSIFICATION AND PRESENTATION
Account Title	Classification	Financial Statement	Normal Balance
A
Accounts Payable	Current Liability	Balance Sheet	Credit
Accounts Receivable	Click here to enter text.	Click here to enter text.	Click here to enter text.
Accumulated DepreciationBuildings	Click here to enter text.	Click here to enter text.	Click here to enter text.
Accumulated DepreciationEquipment	Click here to enter text.	Click here to enter text.	Click here to enter text.
Administrative Expenses	Click here to enter text.	Click here to enter text.	Click here to enter text.
Allowance for Doubtful Accounts	Click here to enter text.	Click here to enter text.	Click here to enter text.
Amortization Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
B
Bad Debts Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
Bonds Payable	Click here to enter text.	Click here to enter text.	Click here to enter text.
Buildings	Click here to enter text.	Click here to enter text.	Click here to enter text.
C
Cash	Click here to enter text.	Click here to enter text.	Click here to enter text.
Common Stock	Click here to enter text.	Click here to enter text.	Click here to enter text.
Copyright	Click here to enter text.	Click here to enter text.	Click here to enter text.
Cost of Goods Sold	Click here to enter text.	Click here to enter text.	Click here to enter text.
D
Depreciation Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
Discount on Bonds Payable	Click here to enter text.	Click here to enter text.	Click here to enter text.
Dividends	Click here to enter text.	Click here to enter text.	Click here to enter text.
Dividends Payable	Click here to enter text.	Click here to enter text.	Click here to enter text.
E
Equipment	Click here to enter text.	Click here to enter text.	Click here to enter text.
F
Freight-out	Click here to enter text.	Click here to enter text.	Click here to enter text.
G
Gain on Disposal of Plant Assets	Click here to enter text.	Click here to enter text.	Click here to enter text.
Goodwill	Click here to enter text.	Click here to enter text.	Click here to enter text.
I
Income Summary	Click here to enter text.	Click here to enter text.	Click here to enter text.(1)
Income Tax Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
Income Taxes Payable	Click here to enter text.	Click here to enter text.	Click here to enter text.
Insurance Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
Interest Payable	Click here to enter text.	Click here to enter text.	Click here to enter text.
Interest Receivable	Click here to enter text.	Click here to enter text.	Click here to enter text.
Interest Revenue	Click here to enter text.	Click here to enter text.	Click here to enter text.
Inventory	Click here to enter text.	Click here to enter text.(2)	Click here to enter text.
L
Land	Click here to enter text.	Click here to enter text.	Click here to enter text.
Loss on Disposal of Plant Assets	Click here to enter text.	Click here to enter text.	Click here to enter text.
M
Mortgage Payable	Click here to enter text.	Click here to enter text.	Click here to enter text.
N
Notes Payable	Click here to enter text.	Click here to enter text.	Click here to enter text.
P
Paid-in Capital in Excess of Par ValuePreferred Stock	Click here to enter text.	Click here to enter text.	Click here to enter text.
Preferred Stock	Click here to enter text.	Click here to enter text.	Click here to enter text.
Premium on Bonds Payable	Click here to enter text.	Click here to enter text.	Click here to enter text.
Prepaid Insurance	Click here to enter text.	Click here to enter text.	Click here to enter text.
Prepaid Rent	Click here to enter text.	Click here to enter text.	Click here to enter text.
R
Rent Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
Retained Earnings	Click here to enter text.	Click here to enter text.	Click here to enter text.
S
Salaries and Wages Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
Salaries and Wages Payable	Click here to enter text.	Click here to enter text.	Click here to enter text.
Sales Discounts	Click here to enter text.	Click here to enter text.	Click here to enter text.
Sales Returns and Allowances	Click here to enter text.	Click here to enter text.	Click here to enter text.
Sales Revenue	Click here to enter text.	Click here to enter text.	Click here to enter text.
Selling Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
Service Revenue	Click here to enter text.	Click here to enter text.	Click here to enter text.
Short-Term Investments	Click here to enter text.	Click here to enter text.	Click here to enter text.
Supplies	Click here to enter text.	Click here to enter text.	Click here to enter text.
Supplies Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
T
Treasury StockCommon	Click here to enter text.	Click here to enter text.	Click here to enter text.
U
Unearned Service Revenue	Click here to enter text.	Click here to enter text.	Click here to enter text.
Utilities Expense	Click here to enter text.	Click here to enter text.	Click here to enter text.
(1) The normal balance for Income Summary will be credit when there is a net income, debit when there is a net loss. The Income Summary Account does not appear on any financial statement. (2) If a periodic system is used, Inventory also appears in the income statement in the calculation of costs of goods sold.