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    rose mae joy's Avatar
    rose mae joy Posts: 2, Reputation: 1
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    #1

    Sep 18, 2009, 11:44 PM
    Assets acc.
    what's under on asset account??
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Sep 19, 2009, 03:08 AM

    Typical things you'll start with are cash, supplies, receivables, inventory, prepaids, land, equipment...

    However, don't try to memorize every asset account. You're going to keep getting new ones and you'll never memorize them all. Learn what they are so you can recognize them when you see them. An asset is something the company owns that they can use in their business, or something they have some type of claim on in the future. (Receivables and prepaids come under the category of "claim in the future.")
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