CHAPTER 17. CLASSIFICATION TABLE. BALANCE SHEET (ASSETS = LIABILITY + OWNERS’ EQUITY) CURRENT ASSETS FIXED ASSETS CURRENT LIABILITY CASH PROPERTY ACCOUNTS PAYABLE CHECKING ACCOUNTS BALANCES MERCHANDISE INVENTORY UNDEPOSITED CHECKS FROM CUSTOMERS COMPUTER SOFTWARE EQUIPMENT ACCOUNT RECEIVABLE US TREASURY BILLS SHORT TERM INVESTMENT PREPAID RENT PREPAID INSURANCE MARKETABLE SECURITIES PREPAID LIABILITIES STOCKS OFFICE SUPPLIES ADVANCED PAYMENTS ENDING STOCK VEHICLE MACHINES LONG TERM LIABILITY NOTES PAYABLE OWNER’S EQUITY BANK OVERDRAFT BONDS ADDITIONAL PAIDIN CAPITAL SALARIES PAYABLE SHORT TERM DEBT BANK LOAN (MORE 1 YEAR) DEBENDURES (fixed-income instruments that are unsecured) LONG TERM DEBT PENSION LIABILITIES (DRAWING) FEES EARNED PURCHASES SALARIES/ WAGES RETAINED EARNINGS DISCOUNT RECEIVED (PURCHASE RETURNS) TRAVELLING EXPENSES NET INCOME SERVICE REVENUE INTEREST EARNED SALES REVENUE (AMORTIZATION) UTILITY PAYABLE DEFERRED REVENUE (ACCUMULATED DEPRECIATION) LAND UNEARNED REVENUE UNEARNED FEES BUILDINGS BANK LOAN (LESS 1 YEAR) …….. PAYABLE LONG TERM INVESTMENT LONG TERM RECEIVABLES INCOME STATEMENT (PROFIT OR LOSS = REVENUE EXPENSES) REVENUES COST OF GOODS EXPENSES SOLD …… SOLD MERCHANDISE TAXES INVENTORY RENT RECEIVED (ENDING STOCK) INSUARNCE CURRENT PORTION OF LONG TERM DEBT ADVANCE SUBSCRIPTION REVENUE CAPITAL (NET LOSS) STOCK SHARES DIVIDENDS DIVIDENDS RECEIVED INCOME FROM OTHER SOURCES BAD DEBTS RECOVERED (SALES RETURNS) (SALES DISCOUNT) RENT RATES MAINTANANCE UTILITY BILLS ADVERTISING DELIVERY CHARGES