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Cycle Project 2

This document shows a chart of accounts for a company with various asset, liability, equity, revenue, and expense accounts. It includes balance sheet accounts like cash, accounts receivable, inventory, and equipment as well as income statement accounts such as sales, cost of goods sold, wages expense, and interest expense. The totals at the bottom show the chart is balanced with equal debits and credits.

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Tanya
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33 views

Cycle Project 2

This document shows a chart of accounts for a company with various asset, liability, equity, revenue, and expense accounts. It includes balance sheet accounts like cash, accounts receivable, inventory, and equipment as well as income statement accounts such as sales, cost of goods sold, wages expense, and interest expense. The totals at the bottom show the chart is balanced with equal debits and credits.

Uploaded by

Tanya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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AcctNo

Name

110

Cash

120

Debit

Credit

$0.00

$1,880.00

Accounts Receivable

$2,000.00

$0.00

140

Inventory

$4,200.00

$0.00

151

Prepaid Insurance

$2,600.00

$0.00

161

Land

$20,000.00

$0.00

162

Building

$50,000.00

$0.00

165

Equipment

$11,400.00

$0.00

166

Vehicles

$18,000.00

$0.00

182

Acc. Dep. Building

$0.00

$13,500.00

185

Acc. Dep. Equipment

$0.00

$5,250.00

186

Acc. Dep. Vehicles

$0.00

$2,000.00

200

Line of Credit

$0.00

$25,000.00

210

Accounts Payable

$0.00

$5,500.00

224

Sales Tax Payable

$0.00

$1,100.00

230

Book Deposits

$0.00

$50.00

241

Notes Payable

$0.00

$3,400.00

310

Capital

$0.00

$47,000.00

311

Drawing

$7,500.00

$0.00

401

Book Sales

$0.00

$187,000.00

405

Sales Discounts

$2,524.00

$0.00

410

Sales Returns

$4,000.00

$0.00

501

Book Purchases

$119,900.00

$0.00

505

Freight In

$2,000.00

$0.00

510

Purchase Discounts

$0.00

$2,044.00

515

Purchase Returns

$0.00

$0.00

601

Wages

$20,000.00

$0.00

611

Utilities

$10,350.00

$0.00

621

Advertising

$11,000.00

$0.00

640

Professional Fees

$1,500.00

$0.00

672

Depreciation - Building

$0.00

$0.00

675

Depreciation - Equipment

$0.00

$0.00

676

Depreciation - Vehicles

$0.00

$0.00

690

Insurance

$1,000.00

$0.00

760

Equipment Rent

$1,000.00

$0.00

770

Repairs and Maintenance

$1,000.00

$0.00

810

Interest Income

$0.00

$250.00

820

Interest Expense

$3,000.00

$0.00

900

Personal Property Taxes

$1,000.00

$0.00

Close

Totals:

$293,974.00

$293,974.00

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