1.

List of account titles

2.The account title for gasoline,diesoline,lubricants,grease,fluids,lube oils,etc.for

use by company vehicles

3.for the amount paid for business permits,licenses and other government duues
except the income tax paid which is not allowed bylaw as a deduction.

4.this represents cost of supplies that were used and consumed that bears
specific titles as office supplies expense,store supplies expense,shop supplies
expense,etc.

6.for compensation given to employees of a business.It may be specifies as Office

salaries,salesmen’s salaries,etc.

8.the account title for telephone,light,and water bills

10.for the amount paid or incurred for use of property,usually premises.

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

12.account title for the expired portion of the insurance premium paid

13.any amount paid as expense which is not significant enough to warrant a

particular classification

14.for expenses incurred in repairing or servicing the

buidings,machineries,vechiles,equipment, etc.which are owned by the business

16.an expense incurred from borrowed money.This is separately shown as a

deduction from profit before finance charges to arrive at profit

18.for the anticipated loss that the business may incur arising from uncollectible
accounts

20.identification or brief description of items that fall tothesame kind,class or

nature
21.account title for expenses that are paid in advance but are not yet incurred or
have not yet expired

22.Defined as resource controlled by the enterprise as a result of past of

transaction and events and from which future economic benefits are expected to
flow to the enterprise

23.this is an asset offset or contra asset account.it provides for possible losses
from uncollectible accounts

24.the account title ro describe money,either paper or in coins and money

substitutes like check,postal money orders,bank draft and treasury warrants

26.the account title for amounts collectible arising from services rendered to a
customer or client on credit or sale of goods to customer on accounts

28.This is a promissory note that is received by the business from the customer
arising from rendering of services,sales of merchandise,etc

30.the account title for amounts collectible from employees for allowing them to
make cash advances which are deductible against their salaries or wages

31.an account title for money that is separately placed inside the box and set
aside for petty or small expenses

32.an account title for cost of stationery and other supplies purchased for use but
are left on hand and still unused

33.short term,highly liquid investments that are readily convertible to known

amounts cash and which are subject to an insignificant riskof changes in values
because of changes in interest rates.

34.these are assets which are held sale in the ordinary course of business,in the
process of production for such sale or in the form of materials or supplies to be
consumed in the production process or in the rendering of services

36.an account titke for the sites where the building used as office or store is
constructed.
38.as tangible assets which are held by an enterprise for use in production or
supply of goods and services,for rental to others, or for administrative
purposes,and which are expected to be used during more than one period

40.this is an asset off set or contra asset account.this called a valuation account
which shown as a deduction from property and equipment

41.account title for a finished construction owned by the business when

operations and transactions took place

42.includes calculators,typewriters,adding machines,computers,steel filing

cabinets and be like.

43.this is an account title for an income collected or received in advance but

services have not been rendered yet

44.a financial obligation of the enterprise which requires a fixed or tangible

property to be pledged as a collateral to ensure payment

46.Financial obligations of the enterprise which are expected to be settled in the

normal course of the operating of the operating cycle;due to be settled within
one year from the statement of financial position date

48.an account title for a financial obligation of an enterprise that constitutes an

oral or verbal promise to pay

60.same nature with that of notes payable short term but only ,this requires
payment for more than a year

61.these are expenses incurred by the enterprise but are not yet paid

62.same as accounts payable in nature but only the obligation is evidenced by a

promissory note.The enterprise is the one who issued note

63.include chairs,tables,counters,display cases and the like.

64.refer to all assets that are expected to be realized,sold or consumed within the
enterprise’s normal operating cycle.
66.the interval time form date of acquisition of merchandise inventory;sell the
inventory to customers and the ultimate collection of cash from the sale

68.Defined as financial obligations of the business to its creditors.Its represents

the claim of the creditors over the assets of the enterprise

80.This is the residual interest in the assets of the enterprise after deducting all its
liabilities

81.Synonymous to proprietorship,proprietary interest ornet worth

82.The owner’s capital begiven a title by indicating the name,with the word
capital written after the name which is separated by a

83.forincome earned by the business which is not the main line of its activity and
could not be clearly classified

84.for income received by the business arising from amount of money borrowed
by a customer and usually covered promissory note

86.This is the account title used for all types of income derived from rendering of
services.

88.for incomeearned on buildings,space or other properties owned and rented

out by the business as the main line of its activity

100.The account title generally used y professionals for income earned from the
practice of their profession or may be specified as accounting or auditing fees
income for accountants,legal fees income for lawyers,dental fees income for
dentis,medical fees income for doctors etc.

101.refers to theproceeds from services rendered by a servicing firm,income from

use by other entities of the resoursec of the enterprise like royalties income,rent
income,interest income etc.

102.this is the residual interestin the assets of theenterprise afterdeducting allits

liabilities
103.This is the residual in the assets of the enterprise after deducting all its
liabilities

104.