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    Rosita Aquino Pacibe
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    The document outlines the five major accounts used in accounting: assets, liabilities, equity, income, and expenses. It classifies assets, liabilities, and equity as balance sheet accounts and income and expenses as income statement accounts. A chart of accounts lists all accounts used by a business.

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    The Major Accounts in Accounting

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    The document outlines the five major accounts used in accounting: assets, liabilities, equity, income, and expenses. It classifies assets, liabilities, and equity as balance sheet accounts and income and expenses as income statement accounts. A chart of accounts lists all accounts used by a business.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    9 views4 pages

    Part 2

    Uploaded by

    Rosita Aquino Pacibe
    The document outlines the five major accounts used in accounting: assets, liabilities, equity, income, and expenses. It classifies assets, liabilities, and equity as balance sheet accounts and income and expenses as income statement accounts. A chart of accounts lists all accounts used by a business.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 4

    THE MAJOR ACCOUNT

    FIVE MAJOR ACCOUNTS CLASSIFICATION OF ACCOUNTS


    1. Assets
    2. Liabilities Balance Sheet Accounts
    3. Equity (Permanent Accounts)

    4. Income Income Statement Accounts


    5. Expenses (Temporary Accounts)

    FINANCIAL STATEMENTS

    BALANCE SHEET
    INCOME STATEMENT
    CHART OF ACCOUNTS
    A chart of accounts is a list of all the accounts used by a business.

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