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Chart of Accounts : Assets (1000-1999) 1100 Cash 1200 Accounts Recievable 1300 Direct Materials 1350 Indirect Materials & Factory Supplies 1400 Work In Process 1500
Chart of Accounts : Assets (1000-1999) | |
1100 | Cash |
1200 | Accounts Recievable |
1300 | Direct Materials |
1350 | Indirect Materials & Factory Supplies |
1400 | Work In Process |
1500 | Finished Goods |
1600 | Prepaid Advertising |
1650 | Prepaid Insurance |
1700 | Office Supplies |
1800 | Factory Equipment |
1800.1 | Accumulated Dep. - Factory Equip. |
1850 | Office Equipment |
1850.1 | Accumulated Dep. - Office Equip. |
Liabilities : (2000-2999) | |
2100 | Accounts Payable |
2200 | Salaries Payable |
2300 | Federal Witholding Tax Payable |
2325 | FICA Tax Payable |
2350 | FUTA Tax Payable |
2375 | SUTA Tax Payable |
2500 | Unearned Revenue |
Owner's Equity (3000-3999) | |
3100 | Common Stock ($10 Par) |
3150 | Paid In Cap. in Excess of Pay - Common |
3700 | Retained Earnings |
3900 | Income Summary |
Revenues (4000-4999) | |
4100 | Sales |
4200 | Sales Discounts |
Expenses (5000-599) | |
5100 | Cost of Goods Sold |
5150 | Factory Overhead |
5200 | Sales Salaries Expense |
5225 | Officers' Salaries Expense |
5250 | Office Salaries Expense |
5300 | Rent Expense |
5350 | Advertising Expense |
5400 | Utilities Expense |
5450 | Office Supplies Expense |
5500 | Postage Expense |
5550 | Telephone Expense |
5575 | Insurance Expense |
5600 | Depreciation Expense |
5700 | Payroll Tax Expense |
5800 | Bad Debt Expense |
5900 | Miscellaneous Expense |
What information do I need to create this? I don't understand exactly what it is asking me to do. Also, where do I find the posting reference - is it account numbers?
CREDIT ACCOUNT NUMBER 1100 1200 1300 1350 1400 1500 1600 1650 1700 1800 1800.1 ICE CREAM SYSTEMS Trial Balance January 1, 20- DESCRIPTION DEBIT Cash $117.964.23 Accounts Receiv- able 51,484.00 Direct Materials 64,350.00 Indirect Materials & Factory Supplies 18,772.00 Work in Process 142,695.00 Finished Goods 27,696.00 Prepaid Advertising Prepaid Insurance Office Supplies 342.25 Factory Equipment 246,857.00 Accumulated Depreciation Factory Equipment Office Equipment 38,567.00 Accumulated Depreciation- Office Equipment Accounts Payable Salaries Payable FWT Payable FICA Tax Payable FUTA Tax Payable SUTA Tax Payable Unearned Revenue Common Stock ($10 Par) Paid-In Capital in Excess of Par Common Retained Earnings $708,727.48 99,653.35 1850 1850.1 18.845.66 9,814.00 2100 2200 2300 2325 2350 2375 1,613.11 822.68 1,032.39 1,871.20 2500 3100 350,000.00 3150 3700 32,500.00 192,575.09 TOTALS $708,727.48 PROJECT INSTRUCTIONS 1. Set up the General Ledger accounts, Accounts Receivable, and Accounts Payable accounts. Use the following blank forms (make as many copies as necessary). Insert the beginning balances from the Trial Balance and Schedules of Accounts Receivable and Payable. BALANCE DATE ITEM POST REF. DEBIT CREDIT DEBIT CREDITStep by Step Solution
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