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ABM STUDENTS
TYPES OF MAJOR ACCOUNTS
5 types of Major Accounts

• Assets
• Liabilities
• Owner’s Equity
• Revenue
• Expenses
ASSETS
CURRENT & NON-CURRENT ASSETS
•CURRENT- ASSETS THAT CAN BE REALIZED ONE
YEAR AFTER YEAR- END DATE.
•NON-CURRENT- ASSETS THAT CANNOT BE
REALIZED ONE YEAR AFTER
YEAR-END DATE.
CURRENT ASSETS
•CASH
•ACCOUNTS RECEIVABLE
•INVENTORIES
•SUPPLIES
•PREPAID EXPENSES
•ACCRUED INCOME
•SHORT TERM INVESTMENTS
NON-CURRENT ASSETS

•PROPERTY PLANT AND EQUIPMENT

•INTANGIBLE ASSETS
•LONG TERM INVESTMENTS
LIABILITIES
CURRENT & NON-CURRENT LIABILITIES
•CURRENT LIABILITIES
•ACCOUNTS PAYABLE
•NOTES PAYABLE
•ACCRUED EXPENSES
•UNEARNED INCOME
NON-CURRENT LIABILITIES

•LOANS PAYABLE
•MORTGAGE PAYABLE
•BONDS PAYABLE
OWNER’S
EQUITY
•CAPITAL
•DRAWINGS
REVENUE
EXPENSES
CHART OF ACCOUNTS