Using the List of Accounts Below, Construct a Chart of Accounts

question 142

Essay

Using the list of accounts below, construct a chart of accounts for a merchandising business that rents out a portion of its building, and assign account numbers and arrange the accounts in balance sheet and income statement order
("1" for assets, and so on). Each account number should have three digits. Contra accounts should be designated with a decimal of the account
(100.1 for contra of account 100). Assets and liabilities should be in order of liquidity; expenses should be in alphabetical order.? $$\begin{array} { | l | l | l | } \hline\text { Accounts Payable } & \text { Interest Expense } & \text { Salaries Payable } \\\hline \text { Accounts Receivable } & \text { Land } & \text { Sales } \\\hline \text { Accumulated Depr.-Equip. } & \text { Merchandise Inventory } & \text { Supplies Expense } \\\hline \text { Advertising Expense } & \text { Notes Payable } & \text { Unearned Revenue } \\\hline & & \\\hline \text { Cash } & \text { Office Supplies } & \text { Utilities Expense } \\\hline \text { Cost of Merchandise Sold } & \text { Owner, Capital } & \\\hline \begin{array} { l } \text { Depreciation Expense- } \\\text { Equip. }\end{array} & \text { Owner, Drawing } & \\\hline \text { Equipment } & \text { Rent Revenue } & \\\hline & \text { Salaries Expense } & \\\hline\end{array}$$

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Definitions:

Extracellular

Located or occurring outside a cell or cells, often referring to the space or environment that surrounds cells in a multicellular organism.

Voltage-Sensitive

Voltage-sensitive refers to the property of a molecule, ion channel, or membrane to respond to changes in electrical potential or voltage across it.

Sodium Channels

Ion channels found in the membranes of cells, allowing for the passage of sodium ions, important in the generation and conduction of action potentials in neurons and muscle cells.

Cell Membrane

A partial-permeable barrier encasing the cell's cytoplasm, regulating the movement of materials into and from the cell.