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1. Account Title Classification Financial Statement Normal Balance
Accounts Payable Current Liabilities Statement of Financial Position Credit
Accounts Receivable Current Assets Statement of Financial Position Debit
Accumulated Amortization Ingangible Assets and Goodwill Statement of Financial Position Credit (contra asset account)
Accumulated Depreciation Property, Plant, and Equipment Statement of Financial Position Credit (contra asset account)
Accumulated Other Comprehensive
Income (Loss)
Shareholders' Equity
Statement of Changes in Equity;
Statement of Financial Position
Credit (if income) or Debit (if loss)
Allowance for Doubtful Accounts Current Assets Statement of Financial Position Credit (contra asset account)
Allowance for Doubtful Notes Current Assets Statement of Financial Position Credit (contra asset account)
Amortization Expense Operating Expenses Income Statement Debit
Bad Debts Expense Operating Expenses Income Statement Debit
Bank Charges Expense Operating Expenses Income Statement Debit
Kimmel, Weygandt, Kieso, Trenholm, Irvine
Selected List of Accounts
Financial Accounting: Tools for Business Decision-Making, Fifth Canadian Edition
The following is a sample of account titles. It does not represent a comprehensive chart of all the accounts used in the textbook but rather those accounts that are
commonly used. This sample chart of accounts is for a company that generates both service revenue as well as sales revenue. It uses a perpetual inventory
system. Accounts used in a periodic inventory system follow at the end of this chart of accounts.
ACCOUNT CLASSIFICATION AND PRESENTATION
A
B
Selected List of Accounts Kimmel 5e Page 1 of 8

2. Account Title Classification Financial Statement Normal Balance
ACCOUNT CLASSIFICATION AND PRESENTATION
Bank Loan Payable Current or Non-Current Liabilities Statement of Financial Position Credit
Bonds Payable Non-Current Liabilities Statement of Financial Position Credit
Buildings Property, Plant, and Equipment Statement of Financial Position Debit
Cash Current Assets Statement of Financial Position Debit
Common Shares Shareholders' Equity (Share Capital)
Statement of Changes in Equity;
Statement of Financial Position
Credit
Contributed Capital─Reacquisition of
Shares
Shareholders' Equity (Additional
Contributed Capital)
Statement of Changes in Equity;
Statement of Financial Position
Credit
Copyrights Intangible Assets and Goodwill Statement of Financial Position Debit
Cost of Goods Sold Cost of Goods Sold Income Statement Debit
CPP Payable Current Liabilities Statement of Financial Position Credit
Credit Card Expense Operating Expenses Income Statement Debit
Credit Card Receivables Current Assets Statement of Financial Position Debit
Debit Card Expense Operating Expenses Income Statement Debit
Depreciation Expense Operating Expenses Income Statement Debit
Development Costs Intangible Assets and Goodwill Statement of Financial Position Debit
Development Expense Operating Expenses Income Statement Debit
C
D
Selected List of Accounts Kimmel 5e Page 2 of 8

3. Account Title Classification Financial Statement Normal Balance
ACCOUNT CLASSIFICATION AND PRESENTATION
Dividends
Shareholders' Equity (deduction from
Retained Earnings)
Statement of Changes in Equity
(Statement of Retained Earnings─
ASPE)
Debit
Dividends Payable Current Liabilities Statement of Financial Position Credit
Dividend Revenue Other Revenues and Gains Income Statement Credit
EI Payable Current Liabilities Statement of Financial Position Credit
Employee Benefits Expense Operating Expenses Income Statement Debit
Equipment Property, Plant, and Equipment Statement of Financial Position Debit
Fees Earned Revenue Income Statement Credit
Freight Out Operating Expenses Income Statement Debit
Franchise Intangible Assets and Goodwill Statement of Financial Position Debit
Gain on Disposal (e.g., property, plant,
and equipment)
Other Revenues and Gains Income Statement Credit
Goodwill Intangible Assets and Goodwill Statement of Financial Position Debit
Impairment Loss Operating Expenses Income Statement Debit
E
F
G
I
Selected List of Accounts Kimmel 5e Page 3 of 8

4. Account Title Classification Financial Statement Normal Balance
ACCOUNT CLASSIFICATION AND PRESENTATION
Income Summary
Temporary account closed to Retained
Earnings
Not Applicable Credit (if profit) or Debit (if loss)
Income Tax Expense Income Tax Expense Income Statement Debit
Income Tax Payable Current Liabilities Statement of Financial Position Credit
Insurance Expense Operating Expenses Income Statement Debit
Interest Expense Operating Expenses Income Statement Debit
Interest Payable Current Liabilities Statement of Financial Position Credit
Interest Receivable Current Assets Statement of Financial Position Debit
Interest Revenue Other Revenues and Gains Income Statement Credit
Investment in Associates Investments Statement of Financial Position Debit
Land Property, Plant, and Equipment Statement of Financial Position Debit
Land Improvements Property, Plant, and Equipment Statement of Financial Position Debit
Long-Term Investments Investments Statement of Financial Position Debit
Loss on Disposal (e.g., property, plant,
and equipment)
Operating Expenses Income Statement Debit
Merchandise Inventory Current Assets Statement of Financial Position Debit
Mortgage Payable Non-Current Liabilities Statement of Financial Position Credit
L
M
Selected List of Accounts Kimmel 5e Page 4 of 8

5. Account Title Classification Financial Statement Normal Balance
ACCOUNT CLASSIFICATION AND PRESENTATION
Notes Payable Current or Non-Current Liabilities Statement of Financial Position Credit
Notes Receivable Current or Non-Current Assets Statement of Financial Position Debit
Office Expense Operating Expenses Income Statement Debit
Other Comprehensive Income (Loss)
(e.g., revaluation of property, plant, and
equipment)
Other Comprehensive Income (Loss)
Statement of Comprehensive Income;
Statement of Changes in Equity
Credit (if income) or Debit (if loss)
Patents Intangible Assets and Goodwill Statement of Financial Position Debit
Preferred Shares Shareholders' Equity (Share Capital)
Statement of Changes in Equity;
Statement of Financial Position
Credit
Prepaid Expenses (e.g., property tax,
insurance, rent)
Current Assets Statement of Financial Position Debit
Professional Fees Expense Operating Expenses Income Statement Debit
Property Tax Expense Operating Expenses Income Statement Debit
Property Tax Payable Current Liabilities Statement of Financial Position Credit
Realized Gain (e.g., trading investments) Other Revenues and Gains Income Statement Credit
Realized Loss (e.g, trading investments) Other Expenses and Losses Income Statement Debit
P
R
N
O
Selected List of Accounts Kimmel 5e Page 5 of 8

6. Account Title Classification Financial Statement Normal Balance
ACCOUNT CLASSIFICATION AND PRESENTATION
Rent Expense Operating Expenses Income Statement Debit
Rent Payable Current Liabilities Statement of Financial Position Credit
Rent Revenue Other Revenues and Gains Income Statement Credit
Repairs and Maintenance Expense Operating Expenses Income Statement Debit
Research Expense Operating Expenses Income Statement Debit
Retained Earnings (Deficit)
Shareholders' Equity (Retained
Earnings)
Statement of Changes in Equity;
Statement of Financial Position
Credit (if retained earnings) or Debit (if
deficit)
Revenue from Investment in Associates Other Revenues and Gains Income Statement Credit
Salaries Expense Operating Expenses Income Statement Debit
Salaries Payable Current Liabilities Statement of Financial Position Credit
Sales Revenue Income Statement Credit
Sales Discounts Revenue Income Statement Debit (contra revenue account)
Sales Returns and Allowances Revenue Income Statement Debit (contra revenue account)
Sales Tax Payable Current Liabilities Statement of Financial Position Credit
Service Revenue Revenue Income Statement Credit
Stock Dividends
Shareholders' Equity (deduction from
Retained Earnings)
Statement of Changes in Equity
(Statement of Retained Earnings─
ASPE)
Debit
S
Selected List of Accounts Kimmel 5e Page 6 of 8

7. Account Title Classification Financial Statement Normal Balance
ACCOUNT CLASSIFICATION AND PRESENTATION
Stock Dividends Distributable Shareholders' Equity (Share Capital)
Statement of Changes in Equity;
Statement of Financial Position
Credit
Supplies Current Assets Statement of Financial Position Debit
Supplies Expense Operating Expenses Income Statement Debit
Telephone Expense Operating Expenses Income Statement Debit
Trademark Intangible Assets and Goodwill Statement of Financial Position Debit
Trading Investments Current Assets Statement of Financial Position Debit
Travel Expense Operating Expenses Income Statement Debit
Unearned Revenue Current Liabilities Statement of Financial Position Credit
Union Dues Payable Current Liabilities Statement of Financial Position Credit
Unrealized Gain (e.g., trading
investments under fair value model)
Other Revenues and Gains Income Statement Credit
Unrealized Loss (e.g., trading
investments under fair value model)
Other Expenses and Losses Income Statement Debit
Utilities Expense Operating Expenses Income Statement Debit
Vehicles Property, Plant, and Equipment Statement of Financial Position Debit
T
U
V
Selected List of Accounts Kimmel 5e Page 7 of 8

8. Account Title Classification Financial Statement Normal Balance
ACCOUNT CLASSIFICATION AND PRESENTATION
Freight In Cost of Goods Sold Income Statement Debit
Purchase Discounts Cost of Goods Sold Income Statement Credit
Purchase Returns and Allowances Cost of Goods Sold Income Statement Credit
Purchases Cost of Goods Sold Income Statement Debit
PERIODIC INVENTORY SYSTEM
If a periodic inventory system is used, the above four accounts would be needed to record inventory purchases.
Selected List of Accounts Kimmel 5e Page 8 of 8