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:
Your four columns should have the following titles:
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:
I have selected Business accounting office
The following would be specific for this business
1. Staff salary
2. Partner's remuneration
3. Accounting Software - Amortization
4. Accumulated Amortization - Accounting Software
5. Revenue - Taxation services
6. Revenue - Accounting Services
Account number | Account title | Normal Balance | Increases with | |
1 | 101 | Cash | Debit | Debit |
2 | 102 | Accounts Receivable | Debit | Debit |
3 | 103 | Office Supplies | Debit | Debit |
4 | 104 | Furniture and Fixtures | Debit | Debit |
5 | 105 | Accounting Software | Debit | Debit |
6 | 201 | Accounts Payable | Credit | Credit |
7 | 202 | Accrued Wages - Staff | Credit | Credit |
8 | 203 | Accrued Wages - Partner | Credit | Credit |
9 | 204 | Accumulated Amortization - Accounting Software | Credit | Credit |
10 | 205 | Accumulated Depreciation | Credit | Credit |
11 | 301 | Revenue - Taxation services | Credit | Credit |
12 | 302 | Revenue - Accounting services | Credit | Credit |
13 | 401 | Staff salary | Debit | Debit |
14 | 402 | Partner Remuneration | Debit | Debit |
15 | 403 | Depreciation | Debit | Debit |
16 | 404 | Amortization | Debit | Debit |
In Excel, create a four column chart of accounts for a fictitious company in your pathway....
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...
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...
Search the internet and find an instance of "Earnings Mismanagement" and "Fraud" in your pathway. In a minimum of 3 paragraphs, tell us: The company name (in the subject line of your post). Why this company interests you. When they did it. Describe in detail what they did and how they got caught. Tell us what the consequences were to the individuals responsible. Cite at least two sources for your information. Examples of businesses in pathways could be: AHCD: Dance,...
Settings 06 Discussion Question Unlocked: Monday, February 24, 2020 12:00 AM EST - Sunday, March 1, 2020 11:00 PM EST. Subscribe Search the internet and find an instance of "Earnings Mismanagement" and "Fraud" in your pathway. In a minimum of 3 paragraphs, tell us: • The company name in the subject line of your post). • Why this company interests you. . When they did it • Describe in detail what they did and how they got caught. • Tell...
My company that i did in the last discussion was Target store, please keep this in mind. there is an example below in the last picture. Discussion 2 (part of chapter 3's work) Available on Saturday, September 12, 2020 6:00 AM EDT until Sunday, September 27, 2020 11:59 PM EDT Subscribe We have learned about four types of adjustments: (1) deferred expenses, (2) deferred revenues, (3) accrued revenues, and (4) accrued expenses. Using the same service business that you identified...
Fixed Asset Discussion: Identify a type of company in your pathway that might purchase fixed assets (see suggestions below). List 5 fixed assets that they might purchase to run their business. Select one depreciable fixed asset. Based on research suggest what the cost, residual value and estimated life might be for that fixed asset. Using your assumptions above, calculate: Straight-line depreciation and book value for each of the first two years Declining Balance depreciation and book value for each of...
In this chapter we were provided a chart of accounts with sixteen accounts in exhibit 2 in the text Prom that chart of accounts select an account (try to pick one that has not been discussed yet), in subject box put the account title you selected, then do the following: Assets. Liabilities. Owner's Equity. Revenues, and Expenses are the five categories (account s) that an account can be classified as. Which category is the account you selected included in? The...
See the Chart of Accounts in exhibit 2 in the book. It lists 16 accounts. From that chart of accounts, select an account, other than cash (try to pick one that has not been discussed yet). In the subject box of the discussion, put the account title you selected. Answer the following questions: 1. Assets, Liabilities, Owner's Equity, Revenues, and Expenses are the five categories (account types) that an account can be classified as. Which category is the account you...
JUUSTIVE See the Chart of Accounts in exhibit 2 in the book. It lists 16 accounts. From that chart of accounts, select an account, other than cash (try to pick one that has not been discussed yet). In the subject box of the discussion, put the account title you selected. Answer the following questions: 1. Assets, Liabilities, Owner's Equity, Revenues, and Expenses are the five categories (account types) that an account can be classified as. Which category is the account...
Presented below is information for Nash Company. 1. Beginning-of-the-year Accounts Receivable balance was $22,500. 2. Net sales (all on account) for the year were $107,600. Nash does not offer cash discounts. 3. Collections on accounts receivable during the year were $82,000. Prepare (summary) journal entries to record the items noted above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered....