Accounting
Wil Holland owns his own web design firm, WEBsign. He is oranized as sole proprietorship,, and he has no formal accounting system in place, Will has a spiral notebook where he records all his business activites chronologically, He knows that he needs a better systembecause it takes him many hours each month to figure out where he stands. Will owns computer equipment used in the business, he has a ching account for the business, he has an insurance policy that he prepays a year, and he advertises regularly in several trade periodicals. Typical business activites include: design fees revenue, buying and using supplies, internet access fees, rent for his studio, receiving cash from clients, electricity, heat and telephone, paying vendors, postage fees, miscellaneous expenses.
Prepare a chart of accounts for WEBsign.
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