Question
Instructions Review the chart of accounts in Ch 2. In Excel, create a four column chart of accounts for a fictitious company in your pathway.
Instructions Review the chart of accounts in Ch 2. In Excel, create a four column chart of accounts for a fictitious company in your pathway. The company should be a sole proprietor and a service business. In the upper left side of your worksheet list your name, your company name and your pathway. List at least 16 accounts. At least 6 account titles should be customized for your specific company. Assign a three digit account number to your accounts following the example chart of accounts. Group the accounts, as in the example, as Assets, Liabilities, Owners Equity, Revenue and Expense. In the last two columns, state what the normal balance of the account is (debit or credit), and state how the account is increased (debit or credit). Your four columns should have the following titles: Account number Account title normal balance increases with The row for cash could have the following information: 101 Cash Debit Debit Examples of businesses in pathways could be: AHCD: Dance, Theater, Film production, Social media, Graphics design or architecture business Business: Accounting office, caterer, advertising firm, dry cleaner, restaurant, any business is acceptable Education: K-12 tutoring, Child care, Charter schools Health Sciences: Dr. or Dentist office, PT office, Hospital, Insurance co, IMCT: Engineering Co., Aviation maintenance, Aviation distribution, Supply Chain Management Public Safety: Law office, PI, Equipment providers for the industry STEM: Engineering Co., Vet. Office, Computer Services co. SGSHS: Psychology office, Non-profit agencies, Social Media
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