Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chart of Accounts No. Description Type Account Class ASSET 1000 Current Assets_ H 1010 Cash G Cash 1020 Accounts Reccivable. G Accounts Receivable 1030

image text in transcribed

Chart of Accounts No. Description Type Account Class ASSET 1000 Current Assets_ H 1010 Cash G Cash 1020 Accounts Reccivable. G Accounts Receivable 1030 Merchandise Inventory. G Other Asset 1040 Prepaid Insurance_ G Other Asset 1050 Freight In.... G Other Asset 1060 Total Current Assets_ T 1070 Non-Current Assets_ H 1080 Delivery Equipment____ G Other Asset 1090 Accumulated Amoritization-Delivery_ A Other Asset 1100 Total Delivery Equipment... S 1110 Store Equipment.. G Other Asset 1120 Accumulated Amortization-Store Equi_ A Other Asset 1130 Total Store Equipment.. S 1140 Total Non Current Assets_ 1150 Total Assets LIABILITY 2000 Current Liabilities H 2010 Accounts Payable... G Accounts Payable 2020 Sales Comission Payable G Other Liability 2030 Property Taxes Payable G Other Liability 2040 GST Payable... G Other Liability 2050 Total Current Liabilities 2060 Non-Current Liabilites H 2070 Long-Term Notes Payable... G Long Term Liability 2080 Total Non-Current Liabilites 2090 Total Liabilities. T EQUITY 3000 Equity H 3010 B. Colbat, Capital. 3020 B. Colbat, Drawings... G 3030 Current Earnings 3040 Total Equity.. G Equity X Current Earnings T Owner/Partner Withdrawals REVENUE 4000 Revenue_ H 4010 Sales G Operating Revenue 4020 Sales Returns and Allowences_ G Other Revenue 4030 Total Revenue_ T EXPENSE 5000 Expenses H 5010 GST Charged on Sales_ G Operating Expense 5020 PST Charged on Sales.. G Operating Expense 5030 5040 PST Paid on Purchases_ G Operating Expense Total Expenses_ T Generated On: 2023-11-30

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Human Resource Management

Authors: Robert L. Mathis, John H. Jackson

13th Edition

053845315X, 978-0538453158

More Books

Students also viewed these Accounting questions

Question

Use translations to graph f. f(x) = x-/2 +1

Answered: 1 week ago

Question

How do VPN services differ from common carrier services?

Answered: 1 week ago

Question

What is POTS?

Answered: 1 week ago