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Chart of accounts
Monet Paints Co. is a newly organized business with a list of accounts arranged in alphabetical order, as follows:
Accounts Payable
Accumulated
Accumulated Depreciation—Store Equipment
Advertising Expense
Cash
Cost of Merchandise Sold
Delivery Expense
Depreciation Expense—Office Equipment
Depreciation Expense—Store Equipment
Income Summary
Insurance Expense
Interest Expense
Kailey Garner, Capital
Kailey Garner, Drawing
Land
Merchandise Inventory
Miscellaneous Administrative Expense
Miscellaneous Selling Expense
Notes Payable
Office Equipment
Office Salaries Expense
Office Supplies
Office Supplies Expense
Prepaid Insurance
Rent Expense
Salaries Payable
Sales
Sales Salaries Expense
Store Equipment
Store Supplies
Store Supplies Expense
Construct a chart of accounts, assigning account numbers and arranging the accounts in
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Chapter 6 Solutions
Working Papers, Chapters 1-17 for Warren/Reeve/Duchac's Accounting, 26th and Financial Accounting, 14th
- What is the contribution margin ratio of this financial accounting question?arrow_forwardA firm has net working capital of $980, net fixed assets of $4,418, sales of $9,250, and current liabilities of $1,340. How many dollars worth of sales are generated from every $1 in total assets? Need Answer general Accountingarrow_forwardFinancial Accountingarrow_forward
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