Chart of Accounts Current Liabilities Current Assets Accounts Payable 10100 Cash
ID: 2563770 • Letter: C
Question
Chart of Accounts Current Liabilities Current Assets Accounts Payable 10100 Cash 11000 Accounts Receivable 12000 Inventory-Paper 12050 Inventory- Pens 12100 Office Supplies 12150 Shipping Supplies 14000 Prepaid Rent 14100 Prepaid Insurance 21100 21200 Wages Payable 27000 27400Note Payable-Computer Inc. 27500 Interest Payable Note Payable-Wells Fargo Bank Sales Tax Payable Stockholders' Equity 39003 39005Retained Earnings 39007 Common Stock Long-Term Assets 15100 Computer Equipment 7 Dividends Accumulated Depreciation - Computer Equipment Revenue 40000 15000Furniture and Fixtures Sales 17000 Accumulated Depreciation - Furniture and Fixtures Expenses 50000 Cost of Goods Sold 4000 Depreciation Expense Fees 60150 Office Supplies Expense 60400 Credit Card Expense 60500 Legal Expense 61000 Shipping Supplies Expense 62000 Bank Services Fee 62500 Shipping Expense 67000 Insurance Expense 67500Interest Expense 67600 Rent Expense 67700 Wages Expense 67800 Utility ExpenseExplanation / Answer
T - accounts are given below.
10100 Cash Ref Debit Credit Ref 12100 Office supplies 12000 Inventory - Paper 2 60000 9000 3 Ref Debit Credit Ref Ref Debit Credit Ref 6 10000 3000 4 10 450 380 a 11 8000 1900 15 15 4871.25 900 7 450 380 17 2700 2200 18 18 8660 14900 8 Bal. 70 3000 24 29 4330 720 9 2100 29 450 10 10700 9200 950 13 14150 Prepaid insurance Bal. 1500 200 16 Ref Debit Credit Ref 150 19 4 3000 250 f 450 22 12150 Shipping Supplies 6000 23 3000 250 Ref Debit Credit Ref 8500 24 Bal. 2750 7 900 700 b 10700 25 180 26 900 700 521.5 28 17100 Accumulated depreciation - Computer eqpt. Bal. 200 1500 30 Ref Debit Credit Ref 87861.25 58121.5 135 d 39003 Common stock Bal. 29739.75 Ref Debit Credit Ref 0 135 60000 2 135 Bal. 12050 Inventory - Pens 0 60000 Ref Debit Credit Ref 60000 Bal. 12 6000 600 15 15000 Furnitur and fixtures 1300 18 Ref Debit Credit Ref 27400 Note payable - Computer Inc. 1800 24 5 14900 Ref Debit Credit Ref 600 29 28 496.67 5960 5 6000 4300 14900 0 Bal. 1700 Bal. 14900 496.67 5960 5463.33 Bal. 14000 Prepaid rent 60000 Legal expenses 17000 Accumulated depreciation - Furniture Ref Debit Credit Ref Ref Debit Credit Ref Ref Debit Credit Ref 3 9000 2250 g 13 950 150 e 9000 2250 Bal. 6750 950 0 0 150 Bal. 950 150 Bal. 15100 Computer equipment Ref Debit Credit Ref 27500 Sales tax payable 5 5960 50000 cost of goods sold Ref Debit Credit Ref 9 720 Ref Debit Credit Ref i 1361.25 371.25 15 6680 0 15 2500 660 18 Bal. 6680 18 3500 330 29 24 4800 27000 Note payable - Wells Fargo. 29 2700 1361.25 1361.25 Ref Debit Credit Ref 13500 0 0 Bal. 10000 6 Bal. 13500 62500 Shipping expense 0 10000 Ref Debit Credit Ref 10000 Bal. 60100 Advertising expenses 16 200 Ref Debit Credit Ref 21 450 20000 Accounts payable 200 0 Ref Debit Credit Ref 450 0 Bal. 200 22 450 8000 11 Bal. 450 23 6000 6000 12 25 10700 2700 17 60400 Credit Card expenses 450 21 67500 Interest expense Ref Debit Credit Ref 400 27 Ref Debit Credit Ref 26 180 17150 17550 28 24.83 400 Bal. 180 0 24.83 0 Bal. 180 Bal. 24.83 40000 Sales Ref Debit Credit Ref 39007 Dividends 4500 15 60150 Office suplies expense Ref Debit Credit Ref 8000 18 Ref Debit Credit Ref 30 1500 4000 29 a 380 1500 0 0 16500 380 0 Bal. 1500 16500 Bal. Bal. 380 61000 Shipping suplies expense 21200 Wages payable Ref Debit Credit Ref 64500 Dues and registration fee Ref Debit Credit Ref b 700 Ref Debit Credit Ref 1300 c 19 150 700 0 150 0 0 1300 Bal. 700 Bal. 150 1300 Bal. 67600 Rent expense 64000 Depreciation expense 67800 Utility expense Ref Debit Credit Ref Ref Debit Credit Ref Ref Debit Credit Ref g 2250 d 135 27 400 e 150 2250 0 285 0 400 0 Bal. 2250 Bal. 285 Bal. 400 67000 Insurance expense 21100 Interest payable 67700 Wages expense Ref Debit Credit Ref Ref Debit Credit Ref Ref Debit Credit Ref f 250 h 50 c 1300 250 0 50 0 1300 0 Bal. 250 Bal. 50 Bal. 1300