Bookmark 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.