Question

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:

Answer 1

ABC Company
Chart of Accounts
Account Number	Account Name
110	Cash & Cash Equivalent
111	Accounts Receivable
112	Inventory
113	Supplies
114	Land
115	Equipment
116	Accumulated Depreciation_equipment
117	Patent (net)
118	Current Liabilties
119	Accrued Liabilities
120	Salaries & Wages Payable
121	Notes Payable
122	Common Stock
123	Retained Earnings
201	Sales Revenue
202	Interest Revenue
301	Cost of Good sold
302	Salaries & Wages Expenses
303	Supplies expenses
304	Depreciation expenses
305	Insurance expenses
306	Interest Expenses
307	Rent expenses
If any doubt please comment