There is no data to enter for this exercise, the worksheet is for you to write out how each account should be listed. Please see first example listed on the worksheet above. The accounts to list out is mentioned in the second highlighted area, in which must be classified first. Hopefully this makes sense. All of the directions are highlighted in yellow.

Assignment Building a Chart of Accounts (complete in EXCEL) Sample account numbering system Sub-Classifications: 1000-1999 Current Fixed (same as property, plant and equipment) Other (includes long term investments and intangibles) 2000-2999 Current Long-term 3000-4999 Classifications: Assets 1000-1099 1100-1199 1200-1299 Liabilities 2000-2099 2100-2199 Equity 3000-3999 4000-4999 Revenue 5000-5999 Expenses 6000-6999 7000-7999 Other 8000-8999 9000-9999 Paid-in Capital (includes capital and withdrawals) Retained Earnings (includes dividends declared) 5000-5999 Revenue 6000-7999 Cost of Goods Sold (cost of sales) Operating Expenses 8000-9999 Other Income and Expenses Other Gains and Losses Classify the accounts in the lists below (abbreviations are fine). Go to the second worksheet and begin organizing your accounts under the appropriate headings. Establish a numbering order that falls in line with the number ranges given above. Complete the worksheet by identifying the normal balance (debit or credit) and on which financial statement each account would be reported. Classify Classify Credit Liability Accounts Payable Accounts Receivable Accumulated Depreciation, Computer Equip. Allowance for Doubtful Accounts Bad Debt Expense Cash Common Stock Computer Equipment Cost of Goods Sold Depreciation Ex, Computer Equip. Dividends Declared Dividends Payable Federal Withholding Taxes Payable FICA Payable Goodwill Interest Expense Interest Income Land Long-term Notes Payable Merchandise Inventory Mortgage Payable Paid-in-Capital in Excess of Par Patents Payroll Tax Expense Petty Cash Prepaid Rent Purchase Returns and Allowances Purchases Purchases Discounts Rent Expense Retained Earnings Salaries Payable Salary Expense Sales Sales Discounts Sales Returns and Allowances Sales Tax Payable Transportation-In Unearned Revenue Chart of Accounts Exercise Make sure to use all the account names from the instruction tab Account Number Normal Balance Financial Statement Account Name Assets Current Cash 1010 Balance Sheet DR Fixed Other LIABILITIES Current LIABILITIES Current Long-term EQUITY Contributed Retained Earnings A B Account Number Normal Balance Financial Statement Account Name REVENUE Sales Revenue EXPENSES Cost of Goods Sold Oneratina Fynenses Chart of Accounts Instructions Worksheet Operating Expenses Other Income and Expenses