PowerPoint Project

ACG1001_Part2_Rachel_Suarez.xls

Chart of Accounts

Part 2	ABC Company		Minimum Required Accounts:
	Chart of Accounts		5 Asset accounts
			2 Liabilities accounts
	Account Number	Account Name	2 Equity accounts
ASSETS:			1 Revenue account
	101	Cash	5 Expense accounts
	103	Accounts receivable
	105	Office supplies	Tip:
	107	Prepaid Insurance	Remember the order of account
	109	Prepaid rent	numbering for each category
LIABILITIES:
	201	Account payable
	203	Salaries payable
EQUITY:
	301	ABC Company. Capital
	303	ABC Company. Withdrawals
REVENUE:
	401	Tuition revenue
EXPENSES:
	501	Salaries expenses
	503	Insurance expenses
	505	Rent expenses
	507	Utilities expenses
	509	Depreciation expenses - Equipment