Page 1

Love It Again, NGODDARD

Chart of Accounts

No. Description Type Account Class

Chart of Accounts - Current Year (2022)

ASSET

1000 CURRENT ASSETS H

1005 Test account G Asset
1020 Bank: Love it again A Asset
1100 Cash on Hand A Asset
1150 Total Cash S
1190 Prepaid Expense G Asset
1200 Purchased Clothing G Asset
1210 Purchased Books G Asset
1220 Other Purchased Items G Asset
1300 Office Supplies G Asset
1310 Other Supplies G Asset
1320 T-Shirts G Asset
1390 TOTAL CURRENT ASSETS T

1500 FIXED ASSETS H

1510 Fax/Telephone G Asset
1520 Computers G Asset
1530 Store Furniture & Shelving G Asset
1590 TOTAL FIXED ASSETS T

LIABILITY

2000 CURRENT LIABILITIES H

2100 Bank Loan G Liability
2140 A/P Bell Canada G Liability
2200 A/P - Kids Stuff G Liability
2300 A/P - Kids in Motion G Liability
2350 A/P Wearable Designs G Liability
2400 A/P - Places for Us G Liability
2420 A/P - Data Connections G Liability
2550 GST Charged on Sales A Liability
2560 HST Charged on Sales A Liability
2570 GST Paid on Purchases A Liability
2580 HST Paid on Purchases A Liability
2590 GST/HST Owing/Refund S
2690 TOTAL CURRENT LIABILITIES T

EQUITY

3000 EQUITY H
3560 Accumulated Surplus G Retained Earnings
3600 Net Income X Current Earnings
3690 TOTAL EQUITY T

REVENUE

4000 REVENUE H
4020 Revenue: Donated Items G Revenue
4040 Revenue: Purchased Clothing & Books G Operating Revenue
4080 Revenue: Other Purchases G Operating Revenue
4100 Revenue: Donation G Operating Revenue
4180 Revenue: Advertising G Operating Revenue
4390 TOTAL REVENUE T

EXPENSE

5000 OPERATING EXPENSES H

5010 Bank Charges G Operating Expense
5020 Rental Expense G Expense
5100 Interest Expense G Operating Expense
5200 Supplies Used G Cost of Goods Sold

Printed On: Feb 06, 2021

 Page 2

Love It Again, NGODDARD

Chart of Accounts

No. Description Type Account Class

5240 Postage Expense G Cost of Goods Sold
5280 Maintenance Expenses G Cost of Goods Sold
5300 Utilities Expenses G Cost of Goods Sold
5320 Publicity & Promotion G Cost of Goods Sold
5380 Payroll Services G Operating Expense
5400 Wages - Manager G Cost of Goods Sold
5420 Miscellaneous Expenses G Cost of Goods Sold
5430 Employee Gifts G Operating Expense
5490 TOTAL OPERATING EXPENSES T

5500 COST OF GOODS SOLD H

5510 Cost of Purchased Clothing & Books G Expense
5520 Cost of Other Purchases G Expense
5690 TOTAL COST OF GOODS SOLD T

Printed On: Feb 06, 2021