Homework Answers
Answer :assets, liabilities, stockholders' equity, revenues, expenses
Balancesheet accounts are listed first in th chart of accounts and then followed by the Income statements accounts.
Balancesheet items are again listed in the order Assets, Liabilities and then Stockholder's equity.
Income statements accounts also are listed in the order in which they are listed in Income statement. ie Revenues and then expenses
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13,900
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32,600
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9,350
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20,000
Equipment
35,500
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Inventory
10,000
Prepaid insurance
1,000
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30,200
Salaries payable
800
Supplies
2,500
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1,200
Vehicles
22,900
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position accounts, in alphabetical order:
Accounts payable
$13,850
Accounts receivable
13,900
Bank loan payable
32,600
Cash
9,350
Common shares
20,000
Equipment
35,500
Income tax payable
1,200
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5,000
Interest payable
300
Inventory
10,000
Prepaid insurance
1,000
Retained earnings
30,200
Salaries payable
800
Supplies
2,500
Unearned revenue
1,200
Vehicles
22,900
A. Classify each account as an Asset, Liability, or
Shareholders’ Equity item.
Accounts payable
$13,850
Accounts receivable
13,900
Bank loan payable
32,600...
create a chart of accounts for ABC company using the excel
template provoded below
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