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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

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BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

What account titles would you suggest for the chart of accounts for a city touring company owned by W. Sanders? List the accounts by account category and include an appropriate account number for each.

To determine

Suggest the account titles by account categories for a touring company of WS.

Explanation

Chart of accounts: The chart that lists all the account titles along with their corresponding numbers that are used in the general ledger of a company is referred to as chart of accounts.

Account titles by account categories for a touring company of WS:

Assets (100-199)
Account NumbersAccount Titles
111Cash
113Accounts Receivable
115Supplies
117Prepaid Insurance
124Equipment
  
Liabilities (200-299)
Account NumbersAccount Titles
221Accounts Payable
222Notes Payable
223

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