Chart of Accounts
A company’s Chart of Accounts is a list of all Asset, Liability, Equity, Revenue, and Expense
accounts included in the company’s General Ledger. The number of accounts included in the
chart of accounts varies depending on the size of the company. A small family run business may
only have twenty total accounts whereas a worldwide company like General Electric will likely have
hundreds of accounts.
A numbering system is used in a chart of accounts to make organization and recordkeeping easier.
The following numbering system would be similar to that of a midsized business.
101-199
201-299
301-399
401-499
501-599
Asset Accounts
Liability Accounts
Equity Accounts
Revenue Accounts
Expense Accounts
The following are examples of Asset accounts:
101
102
103
104
106
107
109
110
111
119
124
128
129
131
141
151
152
153
154
159
160
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Cash
Petty cash
Cash equivalents
Short-term investments
Accounts receivable
Allowance for doubtful accounts
Interest receivable
Rent receivable
Notes receivable
Merchandise inventory
Office supplies
Prepaid insurance
Prepaid interest
Prepaid rent
Long-term Investments
Automobiles
Accumulated depreciation- Automobiles
Trucks
Accumulated depreciation-Trucks
Library
Accumulated depreciation-Library
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Chart of Accounts
Reviewed September 2009
161
162
163
164
169
170
175
176
179
180
183
185
186
191
192
193
194
195
196
197
Furniture
Accumulated depreciation-Furniture
Office Equipment
Accumulated depreciation-Office equipment
Machinery
Accumulated depreciation-Machinery
Building
Accumulated depreciation-Building
Land improvements
Accumulated depreciation-Land improvements
Land
Mineral deposit
Accumulated depreciation-Mineral deposit
Patents
Leasehold
Franchise
Copyrights
Leaseholds improvements
Licenses
Accumulated amortization
The following are examples of Liability accounts:
201
202
Accounts payable
Insurance payable
203
Interest payable
204
Legal fees payable
207
Office salaries payable
208
Rent payable
209
Salaries payable
210
Wages payable
211
Accrued payroll payable
214
Estimated warranty liability
215
Income taxes payable
216
Common dividend payable
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Chart of Accounts
217
218
219
221
222
223
224
225
226
230
231
232
235
238
240
245
251
253
255
258
Preferred dividend payable
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 consulting fees
Unearned legal fees
Unearned property management fees
Unearned janitorial revenue
Unearned rent
Short-term notes payable
Notes payable
Long-term notes payable
Long-term lease liability
Bonds payable
Deferred income tax liability
The following are examples of Equity accounts:
301
302
307
308
309
310
311
312
313
314
315
316
318
319
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Owner’s Capital
Owner’s Withdrawals
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
Paid-in capital in excess of stated value, No-par
common stock
Paid-in capital from retirement of common
stock
Paid in capital, Treasury stock
Preferred stock
Paid-in capital in excess of par value, Preferred
stock
Retained earnings
Cash dividends
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Chart of Accounts
320
321
322
323
Stock dividends
Treasury stock, Common
Unrealized gain-Equity
Unrealized loss-Equity
The following are examples of Revenue accounts:
401
402
403
404
405
406
407
408
409
410
413
414
415
Fees earned from product one*
Fees earned from product two*
Service revenue one*
Service revenue two*
Commissions earned
Rent revenue
Dividends revenue
Earnings from investments in “blank”
Interest revenue
Sinking fund earnings
Sales
Sales returns and allowances
Sales discounts
*A firm will have a varying number of these accounts depending on the number of products or
services the firm manufactures or offers.
The following are examples of Expense accounts:
501
502
503
504
505
506
507
508
509
510
511
520
521
522
523
524
525
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Amortization expense
Depletion expense
Depreciation expense-Automobiles
Depreciation expense-Building
Depreciation expense-Furniture
Depreciation expense-Land improvements
Depreciation expense-Library
Depreciation expense-Machinery
Depreciation expense-Mineral deposit
Depreciation expense-Office equipment
Depreciation expense-Trucks
Office salaries expense
Sales salaries expense
Salaries expense
“Blank” wages expense
Employees’ benefits expense
Payroll taxes expense
4
Chart of Accounts
530
531
532
533
535
536
540
541
542
543
544
545
550
551
552
555
556
557
558
559
561
562
563
564
566
567
568
571
572
573
574
576
577
578
579
580
581
582
582
584
585
587
590
591
595
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Cash over and Short
Discounts lost
Factoring fee expense
Interest expense
Insurance expense-Delivery equipment
Insurance expense-Office equipment
Rent expense
Rent expense-Office space
Rent expense-Selling space
Press rental expense
Truck rental expense
“Blank” rental expense
Office supplies expense
Store supplies expense
“Blank” supplies expense
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 expense
Mower and tool expense
Operating expense
Organization expense
Permits expense
Postage expense
Property taxes expense
Repairs expense
Selling expense
Telephone expense
Travel and entertainment expense
Utilities expense
Warranty expense
Income taxes expense
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Chart of Accounts
The journal entry rules for the accounts are as follows:
For Asset accounts you debit increases and credit decreases.
For Liability accounts you credit increases and debit decreases
For Revenue accounts you credit increases and debit decreases
For Expense accounts you debit increases and credit decreases
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Chart of Accounts