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18/04/2014 11:47:11 PM

Sample Chart of Accounts for a Small Company

Sample Chart of Accounts for a Small Company

This is a partial listing of another sample chart of accounts. Note that each account is assigned a three-digit number followed by the account name. The first digit of the number signifies if it is an asset, liability, etc. For example, if the first digit is a "1" it is an asset, if the first digit is a "3" it is a revenue account, etc. The company decided to include a column to indicate whether a debit or credit will increase the amount in the account. This sample chart of accounts also includes a column containing a description of each account in order to assist in the selection of the most appropriate account.

Asset Accounts

15X-table-01

Liability Accounts

15X-table-02

Owner's Equity Accounts

15X-table-03

Operating Revenue Accounts

15X-table-04

Operating Expense Accounts

15X-table-05

Non-Operating Revenues and Expenses, Gains, and Losses

15X-table-06

Accounting software frequently includes sample charts of accounts for various types of businesses. It is expected that a company will expand and/or modify these sample charts of accounts so that the specific needs of the company are met. Once a business is up and running and transactions are routinely being recorded, the company may add more accounts or delete accounts that are never used.