Question

In Excel, create a four column chart of accounts for a fictitious company in your pathway. The company should be a sole proprietor and a service business. In the upper left side of your worksheet list your name, your company name and your pathway. Write a short description of what your company does. Your Chart of Accounts must include the following:

• List at least 16 accounts.
• At least 6 account titles should be customized for your specific company.
• Assign a three digit account number to your accounts following the example chart of accounts.
• Group and title the accounts, as in the example, as Assets, Liabilities, Owner’s Equity, Revenue and Expense.
• In the last two columns, state what the normal balance of the account is (debit or credit), and state how the account is increased (debit or credit).

Your four columns should have the following titles:

• Account number
• Account title
• normal balance
• increases with

The example below is for the cash line

Account number	Account title		Normal Balance		Increases with
101	Cash		Debit		Debit

:

Examples of businesses in pathways could be:

• AHCD: Dance, Theater, Film production, Social media, Graphics design or architecture business
• Business: Accounting office, caterer, advertising firm, dry cleaner, restaurant, any business is acceptable
• Education: K-12 tutoring, Child care, Charter schools
• Health Sciences: Dr. or Dentist office, PT office, Hospital, Insurance co,
• IMCT: Engineering Co., Aviation maintenance, Aviation distribution, Supply Chain Management
• Public Safety: Law office, PI, Equipment providers for the industry
• STEM: Engineering Co., Vet. Office, Computer Services co.
• SGSHS: Psychology office, Non-profit agencies, Social Media

Charts of Accounts:

1. Assets	4. Revenue
11 Cash	41 Fees Earned
12 Accounts Receivable	5. Expenses
14 Supplies	51 Wages Expense
15 Prepaid Insurance	52 Supplies Expense
17 Land	53 Rent Expense
18 Office Equipment	54 Utilities Expense
2. Liabilities	59 Miscellaneous Expense
21 Accounts Payable
23 Unearned Rent
3. Owner's Equity
31 Capital
32 Drawing

Answer 1

Name of the Student : Name of the Company: The Lunch Box Pathway : Restaurant Business Short Description : Our Company runs under a trade name of The Lunch Box which offers different types of cuisines at a very great taste and also at a affordable price. It will be open 24*7 to provide food for the mordern business life of the people at their flexible times. Chart of Accounts Account Account Title Normal Balance Increases with Number Assets 101 Cash Debit Debit Accounts Receivables Debit Debit 104 Supplies Debit Debit Prepaid Insurance Debit Debit 107 Land Debit Debit 108 Office Equipment Debit Debit 102 105 201 Liabilities Accounts Payables Unearned Revenue Credit Credit Credit Credit 301 302 Owners' Equity Mr. John's Capital Mr. John's Drawings Credit Debit Credit Debit 401 404 Revenue Food Revenue - Dine In Food Revenue - Take Out Credit Credit Credit Credit 501 504 505 507 509 510 Expenses Food Consumables Wages Expenses Supplies Expenses Rent Expense Utilities Expense Miscellaneous Expenses Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit Debit