Chart of accounts Obj. 1 Superior Interiors is owned and operated by Ken Lopez, an interior decorator.
Question:
Chart of accounts Obj. 1 Superior Interiors is owned and operated by Ken Lopez, an interior decorator. In the ledger of Superior Interiors, the first digit of the account number indicates its major account classification
(1—assets, 2—liabilities, 3—stockholders’ equity, 4—revenues, 5—expenses).
The second digit of the account number indicates the specific account within each of the preceding major account classifications.
Match each account number with its most likely account in the list that follows. The account numbers are 11, 12, 13, 21, 31, 32, 33, 41, 51, 52, and 53.
Accounts Payable Land Accounts Receivable Miscellaneous Expense Cash Retained Earnings Common Stock Supplies Expense Dividends Wages Expense Fees Earned.
AppendixLO1
Step by Step Answer:
Corporate Financial Accounting
ISBN: 9781337398176
15th Edition
Authors: Carl Warren, Jefferson Jones