Page 41 - Finance for Non-Financial Managers

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Finance for Non-Financial Managers
22
Account
Account Description
Number
Liabilities
2100 Accounts payable—trade
2200 Accrued payroll and benefits
2220 Accrued payroll
2230 Accrued payroll taxes
2300 Other accrued liabilities
2500 Contracts payable for leased equipment
2700 Long-term notes payable
Stockholders’ Equity
3100 Capital stock
3500 Retained earnings
3500 Income
4100 Sales of products
4110 Sales of Widgets
4300 Sales discounts and allowances
Cost of Goods Sold
5100 Cost of manufacturing Widgets
5110 Direct Labor
5120 Materials
5600 Manufacturing overhead
5610 Factory rent
5620 Factory maintenance and repairs
5630 Factory insurance
Operating Expenses
6000 Sales and Marketing expenses
6100 Salaries and wages
6120 Travel expenses
6130 Telephone
6200 Advertising
6300 Trade shows
7000 General and Administrative expenses
7100 Salaries and wages
7200 Insurance
7300 Postage and mailing
7400 Professional fees paid
... and so on
Figure 2-5. Sample chart of accounts (continued)