Account Types - principlesofaccounting.com (2024)

ACCOUNTS PAYABLELiabilityDecreaseIncreaseACCOUNTS RECEIVABLEAssetIncreaseDecreaseACCUMULATED DEPRECIATIONContra AssetDecreaseIncreaseADVERTISING EXPENSEExpenseIncreaseDecreaseALLOWANCE FOR UNCOLLECTIBLE ACCOUNTSContra AssetDecreaseIncreaseAMORTIZATION EXPENSEExpenseIncreaseDecreaseAVAILABLE FOR SALE SECURITIESAssetIncreaseDecreaseBONDS PAYABLELiabilityDecreaseIncreaseBUILDINGAssetIncreaseDecreaseCAPITAL STOCKEquityDecreaseIncreaseCASHAssetIncreaseDecreaseCASH OVERRevenueDecreaseIncreaseCASH SHORTExpenseIncreaseDecreaseCHARITABLE CONTRIBUTIONS PAYABLELiabilityDecreaseIncreaseCOMMON STOCKEquityDecreaseIncreaseCOST OF GOODS SOLDExpenseIncreaseDecreaseCURRENCY EXCHANGE GAINGainDecreaseIncreaseCURRENCY EXCHANGE LOSSLossIncreaseDecreaseDEPRECIATION EXPENSEExpenseIncreaseDecreaseDISCOUNT ON BONDS PAYABLELiabilityDecreaseIncreaseDISCOUNT ON NOTES PAYABLEContra LiabilityIncreaseDecreaseDIVIDEND INCOMERevenueDecreaseIncreaseDIVIDENDSDividendIncreaseDecreaseDIVIDENDS PAYABLELiabilityDecreaseIncreaseDOMAIN NAMEAssetIncreaseDecreaseEMPLOYEE BENEFITS EXPENSEExpenseIncreaseDecreaseEQUIPMENTAssetIncreaseDecreaseFEDERAL INCOME TAX PAYABLELiabilityDecreaseIncreaseFEDERAL UNEMPLOYMENT TAX PAYABLELiabilityDecreaseIncreaseFREIGHT-INPart of Calculation of Net PurchasesIncreaseDecreaseFREIGHT-OUTExpenseIncreaseDecreaseFUEL EXPENSEExpenseIncreaseDecreaseGAINGainDecreaseIncreaseHEALTH/CHILD FLEX PAYABLELiabilityDecreaseIncreaseINCOME SUMMARYNot a Financial Statement AccountDebited for Total ExpensesCredited for Total RevenuesINSURANCE EXPENSEExpenseIncreaseDecreaseINSURANCE PAYABLELiabilityDecreaseIncreaseINTEREST EXPENSEExpenseIncreaseDecreaseINTEREST INCOMERevenueDecreaseIncreaseINTEREST PAYABLELiabilityDecreaseIncreaseINTEREST RECEIVABLEAssetIncreaseDecreaseINVENTORYAssetIncreaseDecreaseINVESTMENT IN BONDSAssetIncreaseDecreaseINVESTMENT INCOMERevenueDecreaseIncreaseINVESTMENTSAssetIncreaseDecreaseLANDAssetIncreaseDecreaseLOAN PAYABLELiabilityDecreaseIncreaseLOSSLossIncreaseDecreaseMEDICARE/MEDICAID PAYABLELiabilityDecreaseIncreaseMISCELLANEOUS EXPENSEExpenseIncreaseDecreaseNOTES PAYABLELiabilityDecreaseIncreaseNOTES RECEIVABLEAssetIncreaseDecreaseOBLIGATION UNDER CAPITAL LEASELiabilityDecreaseIncreasePAID-IN CAPITAL IN EXCESS OF PAR – COMMONEquityDecreaseIncreasePAID-IN CAPITAL IN EXCESS OF PAR – PREFERREDEquityDecreaseIncreasePATENTAssetIncreaseDecreasePAYROLL TAX EXPENSEExpenseIncreaseDecreasePETTY CASHAssetIncreaseDecreasePOSTAGE EXPENSEExpenseIncreaseDecreasePREMIUM ON BONDS PAYABLELiability Adjunct AccountDecreaseIncreasePREPAID INSURANCEAssetIncreaseDecreasePREPAID RENTAssetIncreaseDecreasePURCHASE DISCOUNTSReduces Calculation of Net PurchasesDecreaseIncreasePURCHASE DISCOUNTS LOSTExpenseIncreaseDecreasePURCHASESPart of Calculation of Net PurchasesIncreaseDecreasePURCHASE RETURNSReduces Calculation of Net PurchasesDecreaseIncreaseRENT EXPENSEExpenseIncreaseDecreaseREPAIR EXPENSEExpenseIncreaseDecreaseRETAINED EARNINGSEquityDecreaseIncreaseRETIREMENT CONTRIBUTION PAYABLELiabilityDecreaseIncreaseREVENUERevenueDecreaseIncreaseSALARIES EXPENSEExpenseIncreaseDecreaseSALARIES PAYABLELiabilityDecreaseIncreaseSALESRevenueDecreaseIncreaseSALES DISCOUNTSContra RevenueIncreaseDecreaseSALES RETURNSContra RevenueIncreaseDecreaseSERVICE CHARGEExpenseIncreaseDecreaseSERVICE REVENUERevenueDecreaseIncreaseSOCIAL SECURITY PAYABLELiabilityDecreaseIncreaseSTATE INCOME TAX PAYABLELiabilityDecreaseIncreaseSTATE UNEMPLOYMENT TAX PAYABLELiabilityDecreaseIncreaseSUPPLIESAssetIncreaseDecreaseSUPPLIES EXPENSEExpenseIncreaseDecreaseTRADING SECURITIESAssetIncreaseDecreaseTREASURY STOCKContra EquityIncreaseDecreaseUNCOLLECTIBLE ACCOUNTS EXPENSEExpenseIncreaseDecreaseUNEARNED REVENUELiabilityDecreaseIncreaseUNREALIZED GAINGainDecreaseIncreaseUNREALIZED LOSSLossIncreaseDecreaseUNREALIZED GAIN – OTHER COMPREHENSIVE INCOMEIncrease in Equity Via Other Comprehensive IncomeDecreaseIncreaseUNREALIZED LOSS – OTHER COMPREHENSIVE INCOMEDecrease in Equity Via Other Comprehensive IncomeIncreaseDecreaseUTILITIES EXPENSEExpenseIncreaseDecreaseWARRANTY EXPENSEExpenseIncreaseDecreaseWARRANTY LIABILITYLiabilityDecreaseIncrease