Thank you!

You have been given the following list of accounts and cost centers for a group of physician offices that you manage. The accounts are in alphabetical order. 1. Create a numbering system for a chart of accounts using a 5-digit numbering system that incorporates the main categories of Assets, Liabilities, Equity, Expenses, and Revenues. You will have sub-accounts under these main headings. You will have to determine if the accounts are considered Assets, Liabilities, Equity, Expenses, or Revenues and indicate that in your file. Provide the definition of each (15 of the 50 points). The cost centers represent the various physician office sites and will be indicated by a modifier. As an example (yours should look different), let's assume you have salaries as an expense. Your numbering system states that all expenses have a 5 digit code starting with 30. Salaries are considered expenses and expenses have to start with 30. There are various types of salaries and those would be indicated by 30-100 through 30-199. You could then breakdown salaries by type. such as clerical: 30-101 or physician's assistant: 30-102. You will indicate the three cost centers through a two digit modifier. So, a physician's assistant salary at the Bedford Clinic would be 30-102-01 and a physician's assistant salary at the Simon Clinic would be 30-102-02. Provide a detailed explanation of how you set up your chart of accounts. (10 of the 50 points) The following is the list of accounts and cost centers from which to create your numbering system. You are to create your chart of accounts in Excel. You may want to research some existing charts of accounts to see how to set them up. (25 of the 50 points) Accounts Accounts Payable-Loan Accounts Receivable-Patient Accounts Cash investment account Cash - money market Coding expense Common stock Computer supplies expense (not including software) Dues expense - professional Medicare tax payable Office supplies expense Professional Consulting (PC) revenue Rent Expense Retained Earnings Salaries- management (exempt) Wages - staff (non-exempt) Cost Centers Bedford Clinic Simon Clinic Morgan Physician Group