do right paints co is a newly organized business with a list of accounts arranged in 551420
EX 6-9 Chart of accounts
Do-Right Paints Co. is a newly organized business with a list of accounts arranged in alphabetical order below.
|
Accounts Payable |
Miscellaneous Administrative Expense |
|
Accounts Receivable |
Miscellaneous Selling Expense |
|
Accumulated Depreciation—Office Equipment |
Notes Payable |
|
Accumulated Depreciation—Store Equipment |
Office Equipment |
|
Advertising Expense |
Office Salaries Expense |
|
Cash |
Office Supplies |
|
Cost of Merchandise Sold |
Office Supplies Expense |
|
Delivery Expense |
Prepaid Insurance |
|
Depreciation Expense—Office Equipment |
Rent Expense |
|
Depreciation Expense—Store Equipment |
Salaries Payable |
|
Income Summary |
Sales |
|
Insurance Expense |
Sales Discounts |
|
Interest Expense |
Sales Returns and Allowances |
|
Jamie Ricardi, Capital |
Sales Salaries Expense |
|
Jamie Ricardi, Drawing |
Store Equipment |
|
Land |
Store Supplies |
|
Merchandise Inventory |
Store Supplies Expense |
Construct a chart of accounts, assigning account numbers and arranging the accounts in balance sheet and income statement order, as illustrated in Exhibit 5. Each account number is three digits: the first digit is to indicate the major classification (“1” for assets, and so on); the second digit is to indicate the subclassification (“11” for current assets, and so on); and the third digit is to identify the specific account (“110” for Cash, “112” for Accounts Receivable, “114” for merchandise Inventory, “115” for Store Supplies, and so on).
We've got everything to become your favourite writing service
Money back guarantee
Your money is safe. Even if we fail to satisfy your expectations, you can always request a refund and get your money back.
Confidentiality
We don’t share your private information with anyone. What happens on our website stays on our website.
Our service is legit
We provide you with a sample paper on the topic you need, and this kind of academic assistance is perfectly legitimate.
Get a plagiarism-free paper
We check every paper with our plagiarism-detection software, so you get a unique paper written for your particular purposes.
We can help with urgent tasks
Need a paper tomorrow? We can write it even while you’re sleeping. Place an order now and get your paper in 8 hours.
Pay a fair price
Our prices depend on urgency. If you want a cheap essay, place your order in advance. Our prices start from $11 per page.