Q1. In what order are the accounts within a chart of accounts organized?
First (____ / L / SE / Rev / Exp)
Second (A / ____ / SE / Rev / Exp)
Third (A / L / ____ / Rev / Exp)
Fourth (A / L / SE / ____ / Exp)
Last (A / L / SE / Rev / ____)
Q2. Within Doogie’s Chart of Accounts, account numbers for:
a. (A)sset accounts start with (____ / 200 / 300 / 400 / 500)
b. (L)iability accounts start with (100 / ____/ 300 / 400 / 500)
c. (SE)quity accounts start with (100 / 200 / ____/ 400 / 500)
d. (Rev)enue accounts start with (100 / 200 / 300 / ____/ 500)
e. (Exp)ense accounts start with (100 / 200 / 300 / 400 / ____)
Q3. Within Doogie’s Chart of Accounts the account numbers increase by (ones / ____) so that additional accounts can be easily added. For example, if the company received a utility bill, the most appropriate account number for utilities payable would be (201 / ____) and for utilities expense would be (160 / 230 / 370 / 410 / ____).