Create a chart of accounts that a merchandising company (a corporation) would use.

• Your chart should have 30 accounts exactly and include the following:
  • 21 regular control accounts. These accounts should come from each major accounting category (assets, liabilities, equity, revenues and expenses) as might be needed for a merchandising company.
  • 5 subsidiary accounts. Your subsidiary accounts should be in the same section of your chart of accounts (e.g., 5 accounts receivable customer subsidiary accounts or 5 inventory item subsidiary accounts or 5 accounts payable vendor subsidiary accounts, etc.).
  • 4 contra accounts:
    • 2 must be contra-asset accounts (1 short-term account and 1 long-term account).
    • 1 must be a contra-liability account.
    • 1 must be a contra-revenue account.
• Your chart of accounts should include
  • Account number
  • Account title
  • Account type (asset, liability, equity, revenue or expense)