Question

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 three digit account number to your accounts following the example chart of accounts.
• Group and title the accounts, as in the example, as Assets, Liabilities, Owner’s Equity, Revenue and Expense.
• In the last two columns, state what the normal balance of the account is (debit or credit), and state how the account is increased (debit or credit).

Your four columns should have the following titles:

• Account number
• Account title
• normal balance
• increases with

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:

• AHCD: Dance, Theater, Film production, Social media, Graphics design or architecture business
• Business: Accounting office, caterer, advertising firm, dry cleaner, restaurant, any business is acceptable
• Education: K-12 tutoring, Child care, Charter schools
• Health Sciences: Dr. or Dentist office, PT office, Hospital, Insurance co,
• IMCT: Engineering Co., Aviation maintenance, Aviation distribution, Supply Chain Management
• Public Safety: Law office, PI, Equipment providers for the industry
• STEM: Engineering Co., Vet. Office, Computer Services co.
• SGSHS: Psychology office, Non-profit agencies, Social Media

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

Answer 1

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