An interest to be collected on promissory notes received.

Expenses that are paid in advance, but not yet incurred or have not yet expired

Facilities used in business operations such as delivery trucks, machines, air-conditioner, computers, filing cabinets, electric fans, etc.

A structure to be used for factory, store, warehouse or office of an enterprise to conduct business operations.

A piece of lot or real estate owned by the company in which a building can be constructed for business purposes.

This includes cash on hand, cash in bank and cash fund. Includes money substitutes (postal money money orders, bank drafts and treasury warrants)

Includes chairs, carpet, tables, lamp and lighting fixtures and wall decors. Specific account titles may be used such as office furniture and fixtures and office furniture and fixtures.

A financial obligation that constitutes verbal agreement to pay.

Income received in advance, but services have not yet rendered or goods have not yet been delivered to the customer.

Represents the financial obligations to bank and other financial institutions.

The value of cash and other assets invested in the business by the owner at the start of the operation of the business. The beginning capital of succeeding years.

Expense for the portion of the cost of property and equipment or fixed assets that has expired based on rational and systematic allocation procedure.

This refers to the cost of supplies that were consumed.

Compensation given to the employees of a business.

The account title used for electricity, water, and telephone bills.

Represents the amount paid for the use of office space, store space or factory area.

An “asset offset” or “contra-asset” account which provides for possible losses from uncollected accounts receivable. This is a deduction on accounts receivable account to get the net realizable value.

Represents temporary withdrawal of capital by the owner for personal use from the business.

An account payable with evidence of a promissory note.