Question

Week # Assignment Student Name: George Bell, a fitness enthusiast, buys an existing exercise center, Body Firm. Complete the following exercises to begin setting up the accounting function for the company Part 1: Classify each of the following accounts by creating the Chart of Accounts for Body Firm. Fill in the table below with the account numbers. Some categories will have more accounts than others. Cash 111 Capital 134 Land 311 G. Bell, 511 Wages Services 136 Building 411 Income from 223 138 Equipment us Expense Mortgage 519 Miscellaneo 513 Advertising Expense 221 Accounts Payable 512 Utilities 121 Accounts Receivable Expense 312 G. Bell, Withdrawals 514 Repair Expense Assets Liabilities Owner's Equity Revenues Expenses

Answer 1

Part 1

Assets	Liabilities	Owners' Equity	Revenues	Expenses
111 Cash	223 Mortgage	311 G Bell Capital	411 Income from Services	511 Wages
134 Land	221 Accounts payable	312 G Bell Withdrawals		519 Miscellaneous expense
136 Building				513 Advertising expense
138 Equipment				512 Utilities expense
121 Accounts receivable				514 Repair expense

Part 2

Account	Account
111 Cash	311 G Bell Capital
138 Equipment	111 Cash
134 Land	111 Cash
136 Building	111 Cash
134 Land	223 Mortgage
136 Building	223 Mortgage
138 Equipment	221 Accounts payable
513 Advertising expense	111 Cash
513 Advertising expense	111 Cash
519 Miscellaneous expense	111 Cash
519 Miscellaneous expense	111 Cash
519 Miscellaneous expense	111 Cash
111 Cash	411 Income from Services
511 Wages	111 Cash
512 Utilities expense	111 Cash
514 Repair expense	111 Cash
312 G Bell Withdrawals	111 Cash