Account Titles

It is the allocated cost of fixed asset in the current period.

It is the listing of all accounts or account titles used by the business.

Amounts earned from lending money.

Amounts of income earned from services rendered of a service concern business.

Used to record the amount the owner of the business entity has invested in the entity.

Amounts due to the creditors which are supported by a promissory note.

It refers to a provision for accounts that may not be collected in the future.

Refers to goods unsold at the end of the accounting period or on hand at the beginning of the year.

Expenses paid in advance or items that are bought which will be used during the accounting period.

It includes tables, chairs, showcases, counters, cabinets and other pieces of furniture owned and used by the business in its operation.