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Attachment B Parent

The document outlines the Chart of Accounts for Accounting Chocolatier 2, categorizing assets, liabilities, owner's equity, revenue, and expenses. It includes specific account numbers and descriptions for each category, as well as sample journal entries for various transactions such as investments, acquisitions, and sales. The entries demonstrate how to record financial activities related to cash, inventory, loans, and expenses.

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2 views

Attachment B Parent

The document outlines the Chart of Accounts for Accounting Chocolatier 2, categorizing assets, liabilities, owner's equity, revenue, and expenses. It includes specific account numbers and descriptions for each category, as well as sample journal entries for various transactions such as investments, acquisitions, and sales. The entries demonstrate how to record financial activities related to cash, inventory, loans, and expenses.

Uploaded by

asraffpro123
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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Accounting Chocolatier 2

Chart of Accounts

ASSETS REVENUE

101 Cash 401 Revenue/Sales


105 Inventories – SOFP 403 Other Revenue
110 Factory Plant 405 Purchase Discount/Discount received
111 Accumulated Depreciation-Factory Plant 407 Inventories - SOPL
115 Machinery
116 Accumulated Depreciation-Machinery EXPENSES
117 Investment 502 Purchase
505 Transportation Expense
LIABILITIES 506 Salary and Wages Expense
507 Utilities Expense
201 Loan 510 Sales discount/discount allowed
515 Depreciation Expense-Factory Plant
OWNER’S EQUITY 520 Depreciation Expense-Machinery

301 Capital
303 Income Summary/Retained Earnings

Sample Entries

Transaction Entry

Investment in company DR---Cash


CR---Ordinary share capital
Acquire factory DR---Factory plant (note which factory in desc)
CR---Cash
Acquire machinery DR---Machinery
CR---Cash
Acquire Shop DR---Shop (note which shop in desc)
CR---Cash
Acquire Secret Recipe DR---Secret Recipe (note which recipe in desc)
CR---Cash
Take a bank loan DR—Cash
CR- A/P- Bank
Buy inventory DR---Purchase (note which inventory in desc)
CR---Cash
Buy inventory (with discount) DR---Purchase (note which inventory in desc)
CR---Discount received
CR---Cash
Sell inventory DR---Cash
CR--- Sales (note which inventory in desc)

1
Sell inventory (with discount) DR---Cash
DR---Discount allowed
CR--- Sales (note which inventory in desc)
Transportation expense DR---Transportation expenses
CR---Cash
Closing stock (raw material) DR---Closing Srock - raw material (note which
inventory in desc)- SOFP
CR---Closing stock - raw material (note which
inventory in desc)- SOPL
Closing stock (finished goods) DR---Closing Srock – finished goods (note which
inventory in desc)- SOFP
CR---Closing stock – finished goods (note which
inventory in desc)- SOPL
Depreciation expense DR---Depreciation expense - Property, Plant and
Equipment (note which PPE in desc)
CR--- Accumulated Depreciation - Property, Plant
and Equipment (note which PPE in desc)

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