Chart of Accounts: Identify the Appropriate Accounts for

School: Southern New Hampshire University - Course: ACCOUNTING 201 - Subject: Accounting

Asset AccountsLiability Accounts Acct # Cash101 Notes Payable Accounts Receivable102 Accounts Payable Prepaid Rent103 Wages Payable Office Furniture104 Office Supplies105 Accumulated Depreciation (contra asset)106This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you.
Equity Accounts Acct #Acct # 201 Owner's Capital301 202 Owner Draws302 203 Revenue Accounts Acct # Service Revenue401 Expense Accounts Acct # Rent expense501 Business License Expense502 Insurance Expense503 Repairs and Maintenance504 Advertising Expense506 Wages Expense507 Utilities Expense508 Depreciation Expense509
A Company General Journal Entries DateAccountsDebitCredit 1-Mar owners capital125,000.00 notes patable125,000.00 1-Mar cash250.00 business license expense250.00 2-Mar Prepaid Rent950.00 Rent Expense950.00 Cash1,900.00 5-Mar Office Furniture2,750.00 Cash15,000.00 Owners Capital17,750.00 6-Mar cash650.00 service revenue650.00 8-Mar Advertising Expense500.00 Accounts Payable500.00 10-Mar Accounts Receivable1,725.00 service revenue1,725.00 15-Mar cash750.00 insurance expense750.00 20-Mar Accounts Payable135.00 utilities expense135.00 20-Mar Rpairs & Maintenance95.00 account payable95.00 22-Mar cash500.00 owners draw500.00 25-Mar Office Supplies215.00 account payable215.00
25-Mar Accounts Receivable350.00 service revenue350.00 30-Mar Accounts Payable500.00 advertising expense500.00 30-Mar cash1,725.00 account receivable1,725.00 31-Mar Wages Expense275.00 Wages Payable275.00 31-Mar Accounts Receivable3,500.00 service revenue3,500.00 31-Mar Depreciaion Expense45.83 Accumulated Depreciation45.83 Total 155,865.83155,865.83

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