Question

QWERTYUI Tab Capslk ASDFGHJK Shift Zx . V B N M SPORT each account from the master chart of accounts and determine how that amount is calculated. Table 2 provides a detailed breakdown 850 Table 1 Master Chart of Accounts (All the Revenue and Expense Categories) REVENUE 920 НСА 100 Preseason 110 Account Advertising and sponsorships Season tickets Group tickets Playet contract Bales Skybox rentals Picnic area rentals Miscellaneous income Mall sales 120 130 140 150 160 170 180 200 Game day 210 220 230 1320 1410 Individual ticket sales Merchandise sales Program sales Concession revenue Speed pitch revenue 840 Telephone Dues, subscriptions, fees 900 Taxes 910 Payroll Sales 1000 cost of goods sold 1010 Merchandise and novelty goods 1100 Promotions 1110 Promotional expenses 1200 Travel 1210 Front office travel 1300 Team 1310 Player per diems Player travel 1330 Hotels 1340 Team travel 1400 Advertising Newspaper 1420 Radio 1430 Cable 1440 Outdoor advertising 1450 Cinema 1500 Teas equipment 1510 Uniforms 1520 Bats 1530 Balls 1540 Misc. equipment 1550 Training equipment and supplies 1600 Rent 1610 Stadium 1620 Mall 1630 Player and manager housing 1640 Field manager auto 1700 Concessions 1710 Family day coupons 1720 Skybox food 1730 Picnic area food 1740 Umpires and press box food 1800 consultation 1810 Legal fees 1820 Accounting fees 240 250 нс А + 500 Sales expense 510 520 530 540 600 Salaries 610 620 630 640 Account Printing and brochures Advertising production Radio station access fee Ticket stock Front office Game day starr Interns Player salaries Manager and coaches Commissions 650 700 660 Insurance 710 720 730 Medical insurance Workers' compensation Liability insurance EXPENSES ROO Administrative 810 820 office supplies office hardware Postage Table 2 Detailed Revenue and Expenses Actual Budgeted 830

what revenue category(IRS needs to be added to the master chart of accounts to reflect the new economy (how buisness is conducted) and new technologies?

what expense category needs to be added to master chart of accounts is to reflect the new economy (how business is conducted) and new technologies?

Answer 1

1. Incubation revenue category is to be add as one of the categories that depict the new business and the technologies utilized in setting up a business to generate revenues.

2. Business survival is an expense category to be added in the master of the chart of accounts to help an entity in setting up a business in the initial stages.