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:
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 Chris Clark, Capital | |
32 Chris Clark, Drawing |
Name : | HNY | ||||
Company Name : | HNY & Associates | ||||
Business in Pathway : | Providing Accounting Services | ||||
Chart of Account | |||||
Account | Group | Account Number | Account Title | Normal Balance | Increases with |
Fees Accrued | Revenue | 100 | Fees Accrued | Credit | Credit |
Salary Expense | Expenses | 105 | Salary Expense | Debit | Debit |
Interest Expense | Expenses | 109 | Interest Expense | Debit | Debit |
Electricity Expense | Expenses | 112 | Electricity Expenses | Debit | Debit |
Stationery Expense | Expenses | 114 | Stationery Expense | Debit | Debit |
Referral Fee Expense | Expenses | 115 | Referral Fee Expense | Debit | Debit |
Depreication | Expenses | 120 | Depreciation | Debit | Debit |
HNY's Capital | Owner's Equity | 124 | HNY's Capital | Credit | Credit |
Car Loan | Liabilities - Non Current | 127 | Car Loan | Credit | Credit |
Salary Payable | Liabilities - Current | 129 | Salary Payable | Credit | Credit |
Office Building | Assets - Non Current | 130 | Office Building | Debit | Debit |
Furniture | Assets - Non Current | 135 | Furniture | Debit | Debit |
Investments | Assets - Non Current | 139 | Investments | Debit | Debit |
HSBC Bank A/c. - XXXX | Assets - Current | 142 | HSBC Bank A/c. - XXXX | Debit | Debit |
Fees Receivable | Assets - Current | 144 | Fees Receivable | Debit | Debit |
Cash | Assets - Current | 145 | Cash | 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...
Chart of Accounts 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 order, as illustrated below. Each account number is three digits: the first digit is to indicate the major classification (1 for assets, for example); the second digit is to indicate the subclassification (11 for current assets, for example); and the third...
Transactions Instructions Chart of Accounts Journal Instructions Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Foes Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense. Transactions Oct 1 3 10 Paid rent for the month, $2,800. Paid advertising expense, $500. Paid cash for supplies, $1,300. Purchased office equipment on account, $9,500. Received cash from customers on account, $15,500. Paid creditors on account, $3,180. Paid...
Create a chart of accounts for ABC Company using the Excel below. Part 2 ABC Company Minimum Required Accounts: Chart of Accounts 5 Asset accounts 2 Liabilities accounts Account Number Account Name 2 Equity accounts ASSETS: 1 Revenue account 5 Expense accounts Tip: Remember the order of account numbering for each category LIABILITIES: EQUITY: REVENUE: EXPENSES:
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