On January 1, Cassie Harris and Other Stockholders Established a Catering

question 92

Essay

On January 1, Cassie Harris and other stockholders established a catering service. Listed below are accounts she would like to open in the general ledger. List the accounts in the order in which they should appear in the ledger and propose a two digit account numbering scheme that is consistent with the rules of a proper chart of accounts.
1. Cash
2. Supplies
3. Equipment
4. Accounts Payable
5. Common Stock
6. Wages Expense
7. Rent Expense
8. Truck
9. Utilities Expense
10. Dividends
11. Truck Expense
12. Prepaid Insurance
13. Fees Earned
14. Miscellaneous Expense
15. Insurance Expense
16. Notes Payable
17. Accounts Receivable

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Definitions:

Team Meetings

Gatherings of team members aimed at discussing progress, resolving issues, or planning strategies, crucial for communication and coordination within a group.

Two Bosses

A work situation where an employee reports to two different managers or supervisors simultaneously.

Matrix Structure

An organizational structure that combines two or more types of structures, typically functional and product-based.

Problem Solving

The process of identifying a problem, developing possible solution paths, and taking appropriate actions to resolve the problem.