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1. Prepare chart of accounts using the following CASH EQUIPMENT INVENTORY ACCOUNTS RECEIVABLE FURNITURE AND FOCTURE PREPAID RENT ADVERTISING EXPENSE WITHDRAWAL REVENUE NOTES PAYABLE MARKETINGEXPENSE ELECTRICITY EXPENSE DELIVERY VEHICLE INTEREST INCOME SALARY AND WAGES PAYABLE CASH IN BANK ACCUNTS PAYABLE INTEREST EXPENSE RENT EXPENSE CAPITAL

1. Prepare chart of accounts using the following CASH EQUIPMENT INVENTORY ACCOUNTS RECEIVABLE FURNITURE AND FOCTURE PREPAID RENT ADVERTISING EXPENSE WITHDRAWAL REVENUE NOTES PAYABLE MARKETINGEXPENSE ELECTRICITY EXPENSE DELIVERY VEHICLE INTEREST INCOME SALARY AND WAGES PAYABLE CASH IN BANK ACCUNTS PAYABLE INTEREST EXPENSE RENT EXPENSE CAPITAL

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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CHART OF ACCOUNTS Chart of Accounts Account Name Account Type Number 1000 Cash Assets 1010 Accounts Receivable Assets 1020 inventory 1030 Vehicles & Equipment 2000 Accounts Payable 2010 Payroll Tax Liability 2020 Sales Tax Liability 3000 Owner's Capital Assets Assets Liability Liability Liability Owner's Equity Owner's Equity Owner's Equity Revenue 3010 Owner's Withdrawals 3020 Retained Earnings 4000 Sales 4010 Returns and Allowances 4020 Cost of Goods Sold 5000 Markoting and Advertising 5010 Office Supplies 5020 Salaries and Wages 5030 Payroll Taxes Revenue Revenue Expenses Expenses Expenses Expenses > Activity 1. Prepare chart of accounts using the following CASH PREPAID RENT EQUIPMENT INVENTORY ACCOUNTS RECEIVABLE RURNITURE AND FECTURE WITHDRAWAL ADVERTISING EXPENSE REVENUE NOTES PAYABLE MARKETINGEXPENSE ELECTRICITY EXPENSE DELIVERY VEHICLE INTEREST INCOME SALARY AND WAGES CASH IN BANK PAYABLE ACCOUNTS PAYABLE INTEREST EXPENSE RENT EXPENSE CAPITAL
Transcribed Image Text:CHART OF ACCOUNTS Chart of Accounts Account Name Account Type Number 1000 Cash Assets 1010 Accounts Receivable Assets 1020 inventory 1030 Vehicles & Equipment 2000 Accounts Payable 2010 Payroll Tax Liability 2020 Sales Tax Liability 3000 Owner's Capital Assets Assets Liability Liability Liability Owner's Equity Owner's Equity Owner's Equity Revenue 3010 Owner's Withdrawals 3020 Retained Earnings 4000 Sales 4010 Returns and Allowances 4020 Cost of Goods Sold 5000 Markoting and Advertising 5010 Office Supplies 5020 Salaries and Wages 5030 Payroll Taxes Revenue Revenue Expenses Expenses Expenses Expenses > Activity 1. Prepare chart of accounts using the following CASH PREPAID RENT EQUIPMENT INVENTORY ACCOUNTS RECEIVABLE RURNITURE AND FECTURE WITHDRAWAL ADVERTISING EXPENSE REVENUE NOTES PAYABLE MARKETINGEXPENSE ELECTRICITY EXPENSE DELIVERY VEHICLE INTEREST INCOME SALARY AND WAGES CASH IN BANK PAYABLE ACCOUNTS PAYABLE INTEREST EXPENSE RENT EXPENSE CAPITAL
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