Question

Monet Paints Co. is a newly organized business with a list of accounts arranged in alphabetical order, as follows: Assign account numbers and specify whether each account would appear on the balance sheet or income statement, as ilustrated below. Each account number is three digits: the first it is to indicate the major desification (1 for assets, and so on); the second digit is to indicate the subdassification (11 for current assets, and so on); and the third it is to identify the specific account (110 for cash 112 for Accounts Receivable, 114 for Merchandise Inventory, 115 for Store Supplies, and so on). Note: If account would not appear on either the balance sheet of the income Statement, select N/A Account Financial Statement Major Classification Accounts Payable Balance Sheet Liability - 200 Possible Account Number counts Receivable Balance Shell Asset 100 Balance Sheet Accurated Depreciation - Office Equipment cumded Decrecionore Equipment Advertising Expense Expense 500 Ace 100 Balance sheel Expenses Income State Balance Sheet SEE ch Store E

Answer 1

monet paint co. is a new organized business with a list of accounts arranged in alphabetical Onder is as follocust I Account Financial maja possible ] statment classification Account Atleta Inumber To Kailey Garner Balance sheet liability 200 310 I capital (2) Kailey Garner Balance sheet Liability 200 311 Dracing 3 Land Balance Shelt assets 100 120 4) merchandise Inventory Balance sheet Assets 100 14 15 misc Administrative Income Expenses 500 539 expenses statment 6) misc. selling Income Expenses soo 529 expenses statment 12 Notes payable Balance sheet Liability 200 12 18 office Equipment Ralance sheet Assets 100 125 a office Seelaries Income Expenses soo 530 expenses statment / 10 prepaid Insurance Balance sheet Assets 100 117 col Rent expenses Income statment Expenses 500 531 12 salaries payable Ralance sheet Liability 200 2 11 13 sales Income statment Revenue 400 410 14) sales salones Income statt Expenses soo 520 expenses statement 115) store Equipment Balance sheet Assets loo123 110 stor supplies Balance sheet Assets 100 / 115 Tor store supplies Income Expenses 500/523 expenses. statement