Question

create a chart of accounts for ABC company using the excel template provoded below

+ 23 1 x ✓ for в 1 Part 2 ABC Company Chart of Accounts Minimum Required Accounts: 5 Asset accounts 2 Liabilities accounts Account Number Account Name ASSETS: 2 Equity accounts 1 Revenue account 5 Expense accounts Tip: Remember the order of account numbering for each category LIABILITIES: 16 EQUITY: 20 REVENUE: 23 EXPENSES: Chart of Accounts

Answer 1

ABC Company
Chart of Accounts
	Account Number	Account Name
ASSETS
	1	Machinery Account
	2	Bank Account
	3	Trade Receivables Account
	4	Inventory Account
	5	Deferred Taxes Account
LIABILITIES
	6	Trade Payables Account
	7	Income Tax Payable Account
EQUITY
	8	Common Stock
	9	Additional Paid in Capital
REVENUE
	10	Sales Account
EXPENSES
	11	Salaries Account
	12	Income Tax Expense Account
	13	Depreciation Account
	14	Rent Expense
	15	Interest Expense